French payment processor Worldline SA closed the acquisition of Swiss financial services firm SIX Group AG's payment service unit, with approval received from shareholders.
The transaction will see Worldline issue 49,066,878 new shares, equivalent to an approximate 26.9% stake, to SIX Group, which will also receive cash consideration of CHF338 million. The acquisition, with a value estimated at €2.30 billion at announcement, covers SIX Payment Services (Europe) SA, SIXPayment Services (Luxembourg) SA and SIX Payment Services AG.
The meeting also appointed SIX Group Chairman Romeo Lacher and Giulia Fitzpatrick to serve as SIX Group's representatives on Worldline's board. SIX Group CFO Daniel Schmucki will serve as censor of the Worldline board.