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JP Morgan indications deal for stake in fintech Viva Wallet for over $800 million- source By Reuters

© Reuters. SUBMIT PICTURE: An staff member strolls past the Viva Wallet logo design at the head office of the business in Athens, Greece February 8, 2022. REUTERS/Costas Baltas

ATHENS (Reuters) -JP Morgan has actually signed an offer to purchase a 48.5% stake in Athens-based payments fintech Viva Wallet for more than $800 million, an individual with understanding of the matter informed Reuters on Saturday.

The source, who spoke on condition of privacy, stated the offer was anticipated to be revealed early next week.

Both JP Morgan and Viva Wallet decreased to comment.

JP Morgan revealed in January that it had actually consented to get a stake in Viva Wallet.

The stake is to be obtained from Viva Wallet’s minority investors, consisting of the Latsis household workplace, which holds about 13% of the company, British fund Hedosophia with about 24% and Deca Investments with about 10%.

Cloud-based Viva Wallet, which runs in 23 nations throughout Europe, supplies card approval services through its POS application, add-on Google (NASDAQ:) play gadgets and sophisticated payment systems in online shops.

Blake

News and digital media editor, writer, and communications specialist. Passionate about social justice, equity, and wellness. Covering the news, viewing it differently.

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