Bank of Valletta plc – Receipt of proceeds from Visa Europe transaction

As announced in the Bank’s Commentary on its latest interim Financial Statements, Visa Inc. was in the process of acquiring the entire share capital of Visa Europe, in which Bank of Valletta plc is a Principal member and shareholder.

On the 21 June 2016, this acquisition was completed, and has 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.

 The Bank’s share of proceeds from this acquisition is as follows:

Cash consideration €22,041,822

Value of shares in Visa Inc. €7,099,455

Total Consideration €29,141,277

To view the official announcement click here.