Bank of Valletta has made €29,141,277 from the sale of Visa Europe to to Visa Inc.
The bank was a Principal member and shareholder in Visa Europe.
The sale was completed on June 21 and triggered the distribution of cash and preferred stock to the shareholders of Visa Europe, with a deferred cash payment, including interest, to follow in three years’ time.
Bank of Valletta’s share of proceeds from this acquisition was: Cash consideration €22,041,822; Value of shares in Visa Inc. €7,099,455. Total Consideration €29,141,277
The bank said it will be retaining this money within its reserves, in order to strengthen its regulatory capital.