Banco Santander (NYSE:SAN)
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2 Months : From Feb 2020 to Apr 2020
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 firstname.lastname@example.org; @_cristinaroca
(END) Dow Jones Newswires
February 24, 2020 09:29 ET (14:29 GMT)
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