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Visa amends terms of Visa Europe deal

VisaInc. amended its merger agreement with Visa Europe Ltd. to, among other things,remove the contingent consideration of up to €4 billion, plus compoundedinterest at a rate of 4.0% per annum.

Under the amendment, Visa will now pay aggregate up-frontcash consideration of €12.25 billion, including the €11.5 billion up-front cashconsideration announced in the original agreement, plus additional up-front cashconsideration of €750 million, at the closing of the transaction.

The amendment also provides that the company will pay anadditional €1.0 billion in cash, plus compounded interest at a rate of 4.0% perannum, on the third anniversary of the closing.