Santander Buys Mexican Payment-Solutions Company for Close to $85 Million
February 24 2020 - 9:44AM
Dow Jones News
By Cristina Roca
Banco Santander SA said Monday that it has agreed to buy
payment-solutions company Elavon Mexico for 1.6 billion Mexican
pesos ($84.48 million).
The Spanish bank will own 49% of the company through its
Santander Mexico subsidiary and the remaining 51% through Santander
Merchant Platform Solutions. Elavon Mexico is currently Banco
Santander Mexico's strategic partner and operates its merchant
acquiring business in the country.
The decision is in line with Santander's plans to speed up its
growth in global payment initiatives, the company said.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
February 24, 2020 09:29 ET (14:29 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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