Akin Gump Advises Piraeus Bank in €300 Million Sale of Merchant Acquiring Unit
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(London) - Akin Gump has advised Piraeus Bank on the successful completion of the €300 million sale of the Bank’s merchant acquiring unit to Euronet Worldwide and the formation of a long-term strategic partnership between the Bank and Euronet Worldwide.
The transaction was the first of its kind in the Greek market and involved the carve-out and sale of Piraeus Bank’s merchant acquiring business unit, as well as the formation of a long-term sales and distribution partnership. Euronet Worldwide will act as Piraeus Bank’s long-term partner for the provision of merchant acquiring services to Piraeus Bank customers.
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Akin Gump corporate partner Gavin Weir led the team advising Piraeus Bank: “We congratulate our client, Piraeus Bank on successfully forming this partnership with Euronet Worldwide. This historic transaction was the first of its kind in the Greek market, and Akin Gump is proud to have supported the Bank to a successful closing.”
Alongside Mr. Weir, the Akin Gump team included corporate counsel Christopher Beardmore on M&A aspects, and partners Davina Garrod and Scott Pettifor advising on antitrust matters.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East.
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