ANZ Enters JV with European Payments Company Worldline
December 14 2020 - 5:21PM
Dow Jones News
By Alice Uribe
SYDNEY--Australia and New Zealand Banking Group Ltd. has formed
a joint venture with European payments company Worldline to provide
payments technology and merchant services in Australia.
The Australian bank said Tuesday the tieup involves the
formation of a newly created merchant acquiring group, with ANZ and
Worldline holding a 49% and 51% interests, respectively.
"We have a proven track record of partnering with global leaders
in specialist fields if it means providing a better service to our
customers," said Mark Hand, ANZ Executive Australia Retail and
Commercial.
ANZ estimated that completion of the transaction will increase
its Level 2 CET1 capital ratio by 5 basis points. The transaction
is expected to complete in late 2021 and is subject to approvals
and card scheme arrangements.
Write to Alice Uribe at alice.uribe@wsj.com
(END) Dow Jones Newswires
December 14, 2020 17:06 ET (22:06 GMT)
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