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KG Law Advises Evo on Acquisition of Majority Interest in Merchant Acquiring Spin-Off from National Bank of Greece

KG Law Advises Evo on Acquisition of Majority Interest in Merchant Acquiring Spin-Off from National Bank of Greece

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Kyriakides Georgopoulos has advised Evo Payments on the acquisition of a 51% stake in merchant acquiring business spin-off from the National Bank of Greece.

Closing is expected in 2022, pending regulatory approval.

According to the firm, "the transaction structure contemplates the creation of a merchant acquiring joint venture through a spin-off of NBG’s merchant acquiring business into a new entity, and Evo will acquire a 51% interest in the new entity."

Evo Payments is a provider of payment technology integrations and acquiring solutions.

"We are very excited to expand our international footprint into Greece by forming a long-term marketing alliance with NBG," Evo Payments CEO James Kelly commented. "NBG will be a trusted partner as we bring our proprietary solutions to the market and increase card acceptance. The Bank’s market-leading brand recognition and significant customer base will enable us to grow the merchant portfolio as we work together to deliver strong revenue growth."

"The establishment of our relationship with Evo is a great step forward for the National Bank of Greece as it seeks to capitalize on the attractive payments opportunity in the market," NBG CEO Paul Mylonas added. "We are equally pleased to form this alliance and leverage Evo’s proven payments expertise as we enhance our merchant acquiring products and services and increase the value of the business."

The KG team was led by Partners Konstantinos Vouterakos and Konstantinos Issaias and included Partners Anastasia Dritsa, Elina Georgili, and Ioanna Kyriazi, Senior Associate Zaphirenia Theodoraki, and Associates Thanasis Misirlis, Faye Mylonaki, Matina Roma, Alexandros Kourtis, Natalia Soulia, and Despina Korovesi.

Kyriakides Georgopoulos did not respond to our inquiry on the matter.

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