February 25, 2020 |
Spanish bank Santander said on Monday that its Mexican division has agreed to buy the local operations of the US credit card transactions processing company Evalon for MXN1.6 billion ($84 million).
Through the agreement, Santander México will acquire 49% of Evalon México, while Santander Merchant Platform Solutions (SMPS) will purchase 51%, the Spanish bank said in a press release.
The transaction is subject to regulatory approval, but it is expected to close "in the next few weeks," US Bancorp,
Spanish bank's local branch agrees to pay $84 mln for the payment processing company