U.S. Bancorp to Sell Elavon Mexico Operations to Santander
February 24 2020 - 10:14AM
Dow Jones News
By Michael Dabaie
U.S. Bancorp said its Elavon subsidiary agreed to sell its
Mexico-based operations to Santander.
The deal is expected to close in the next few weeks, U.S.
Bancorp said. All Elavon team members in Mexico, as well as
operations and customer relationships, will transition to Santander
as part of the deal. Elavon provides payment processing solutions
and services.
Santander Group said it would acquire Elavon Mexico for about
$86 million.
Elavon Mexico operates Banco Santander's merchant acquiring
business in Mexico, a relationship which dates back to 2010,
Santander said.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
February 24, 2020 09:59 ET (14:59 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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