ING completes acquisition of majority stake in Payvision
13 Mars 2018 - 06:00PM
ING has today completed the acquisition of its 75% stake in
Payvision, a fast-growing, leading international omnichannel
payments service provider.
As announced on 29 January 2018, the acquisition will strengthen
ING's footprint in omnichannel payments services and support the
expansion of our merchant services for business customers, in
particular in the fast-growing e-commerce segment. As a result of
our combined strengths, business customers will strongly benefit
from Payvision's omnichannel payments platform complemented by
ING's lending and working capital solutions and its worldwide
distribution network.
Payvision's founding management team will hold a 25% minority
stake and will continue to lead the company.
As previously announced, the total value of Payvision is EUR 360
million. The acquisition does not have a material impact on ING's
CET 1 ratio.
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Press
enquiries |
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Investor
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Carolien van der
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ING Group Investor
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+31 20 576 6386 |
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+31 20 576 6396 |
carolien.van.der.giessen@ing.com |
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Investor.Relations@ing.com |
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ING
PROFILE ING is a global financial institution with a
strong European base, offering banking services through its
operating company ING Bank. The purpose of ING Bank is empowering
people to stay a step ahead in life and in business. ING Bank's
more than 51,000 employees offer retail and wholesale banking
services to customers in over 40 countries. ING Group shares are
listed on the exchanges of Amsterdam (INGA AS, INGA.AS), Brussels
and on the New York Stock Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING's strategy, which is
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by Sustainalytics. ING Group shares are being included in the
FTSE4Good index and in the Dow Jones Sustainability Index (Europe
and World) where ING is among the leaders in the Banks
industry group. PAYVISION PROFILE
Payvision is a fast-growing, independent international card
acquirer and payments platform, connecting payment service
providers and their global merchants. Founded in 2002 in the
Netherlands, it serves its clients from offices in 10 cities in the
US, Europe, Asia and the Pacific. In 2015 Payvision launched
next-generation Payment Service Provider, Acapture, to address the
omnichannel and cross-border payments needs of merchants.
IMPORTANT LEGAL INFORMATION Certain of the
statements contained herein are not historical facts, including,
without limitation, certain statements made of future expectations
and other forward-looking statements that are based on management's
current views and assumptions and involve known and unknown risks
and uncertainties that could cause actual results, performance or
events to differ materially from those expressed or implied in such
statements. Actual results, performance or events may differ
materially from those in such statements due to a number of
factors, including, without limitation: (1) changes in general
economic conditions, in particular economic conditions in ING's
core markets, (2) changes in performance of financial markets,
including developing markets, (3) potential consequences of
European Union countries leaving the European Union or a break-up
of the euro, (4) changes in the availability of, and costs
associated with, sources of liquidity such as interbank funding, as
well as conditions in the credit and capital markets generally,
including changes in borrower and counterparty creditworthiness,
(5) changes affecting interest rate levels, (6) changes affecting
currency exchange rates, (7) changes in investor and customer
behaviour, (8) changes in general competitive factors, (9) changes
in laws and regulations and the interpretation and application
thereof, (10) geopolitical risks and policies and actions of
governmental and regulatory authorities, (11) changes in standards
and interpretations under International Financial Reporting
Standards (IFRS) and the application thereof, (12) conclusions with
regard to purchase accounting assumptions and methodologies, and
other changes in accounting assumptions and methodologies including
changes in valuation of issued securities and credit market
exposure, (13) changes in ownership that could affect the future
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loss carry forwards, (14) changes in credit ratings, (15) the
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operational, regulatory, reputation and other risks in connection
with climate change, (20) ING's ability to achieve its strategy,
including projected operational synergies and cost-saving
programmes and (21) the other risks and uncertainties detailed in
the most recent annual report of ING Groep N.V. (including the Risk
Factors contained therein) and ING's more recent disclosures,
including press releases, which are available on www.ING.com. Many
of those factors are beyond ING's control. Any forward
looking statements made by or on behalf of ING speak only as of the
date they are made, and ING assumes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information or for any other reason. This
document does not constitute an offer to sell, or a solicitation of
an offer to purchase, any securities in the United States or any
other jurisdiction. |
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