SIX Payment Services Sale to Worldline Finalised
SIX, the parent company of SIX Payment Services, has announced the completion of the acquisition of SIX Payment Services by Worldline. As part of this transaction SIX now holds a 27% equity stake in Worldline and will take two seats in the Worldline board of directors. As a result of the acquisition, the former offices of SIX Payment Services are now offices of Worldline but will continue to operate under the ‘SIX Payment Services’ trade name until further notice.
In May 2018 SIX announced a strategic partnership with Worldline in the cards business (merchant acceptance and acquiring, and international card processing). The total consideration consists of 49.1 million newly issued Worldline shares (resulting in a 27% stake) and a cash consideration of CHF338m (€283m), subject to customary net debt/cash and working capital adjustments.