K&P advised NBG on the signing of agreement to form a Joint Venture partnership with EVO

Athens, 22 December 2021- Karatzas & Partners have advised National Bank of Greece on the signing of a definitive agreement to form a Joint Venture partnership with EVO Payments, Inc., a leading payment technology and services provider for its Merchant Acquiring Business.

NBG’s Merchant Acquiring Business will form the basis of a new company and EVO will acquire 51% of its share capital for a cash consideration of €158m, valuing NBG’s Merchant Acquiring Business at €310m.

In addition, there will be a long-term exclusive distribution agreement where NBG will offer to its merchants the market-leading, card acceptance solutions of NewCo, through the proprietary products and processing platforms of EVO. It is significant that all transaction documents are governed by Greek law.