Visa to buy out Visa Europe for €21.2bn

Visa, the world’s largest payments network, yesterday said it struck a deal to acquire Visa Europe in a transaction valued at as much as €21.2bn to unify the brand globally after eight years as separate companies.

The transaction includes a €16.5bn upfront consideration and the potential for an additional €4.7bn payable following the fourth anniversary of the completion of the deal, the companies said.

The purchase ends years of speculation among analysts about whether the companies, which split in 2007 ahead of the US firm’s initial public offering, would reunite.