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- Komerční banka announces the sale of the majority stake in Cataps, s.r.o
Komerční banka announces the sale of the majority stake in Cataps, s.r.o
Prague, 30 September 2016 – Komerční banka, a.s., with its registered office at Na Příkopě 33/969, 114 07 Prague 1, registration No. 45317054, entered in the register of companies maintained with the Metropolitan Court of Prague, section B, file No.1360 (Komerční banka), announces that it has today concluded the sale of its 80% stake in the subsidiary Cataps, s.r.o. (Cataps) to Worldline SA/NV, incorporated under the laws of Belgium, with registered office at Haachtsesteenweg 1442, 1130 Brussels, Belgium, registered with the company registry of Brussels under the number 0418.547.872 (Worldline). Komerční banka announced on 23 February 2016 that it has signed agreement with Worldline for the sale.
Cataps was established in 2014 as a 100% subsidiary of Komerční banka. The company has assumed activities of Komerční banka in credit and debit card payment processing services (merchant acquiring). These activities represent approximately 1% of consolidated revenues of Komerční banka.
The price of the transaction was set at CZK 727 million. The sale was approved by the competent authorities. The transaction will not have a significant impact on KB Group’s capital adequacy.
„The requirements of clients for services of merchant acquiring and for integration of the related information with their own business and financial data management systems have been rapidly advancing. In alliance with Worldline, the European leader in electronic payments, we will together be able to offer merchants the most advanced and innovative services and products in this area, The cooperation with Worldline brought already in August the first fruit to KB’s clients, MojeMobilní karta (MyMobile card) – a modern method of contactless payments via mobile phone using the Host Car Emulation technology.”
„Komerční banka and Worldline are both serving the card payment industry for several decades providing payment services and bringing innovation to the European market. At Worldline, we are delighted to welcome this new alliance with Komercni banka, a renowned market leader in the Czech Republic market. This alliance will bring the best assets of the two partners to the retailer community, adding the Worldline rich payment and digital retail product portfolio and scalable processing systems to the wide distribution network of Komerční banka, in order to satisfy the fast growing demand of Czech merchants for electronic payments and associated services.”
KOMERČNÍ BANKA is one of the best run universal banks in Central Europe. It provides comprehensive services to clients in the areas of retail, corporate and investment banking. The Komerční banka Group’s 8,434 employees serve 2.4 million clients, who can use an extensive network of 396 business points throughout the country. Komerční banka currently operates 773 ATMs and 1.4 million of its clients use one of direct banking channels. KB is a part of the Société Générale Group.
WORLDLINE [Euronext: WLN] is the European leader in the payments and transactional services industry. Worldline delivers new-generation services, enabling its customers to offer smooth and innovative solutions to the end consumer. Key actor for B2B2C industries, with over 40 years of experience, Worldline supports and contributes to the success of all businesses and administrative services in a perpetually evolving market. Worldline offers a unique and flexible business model built around a global and growing portfolio, thus enabling end-to-end support. Worldline activities are organized around three axes: Merchant Services & Terminals, Mobility & e-Transactional Services, Financial Processing & Software Licensing. Worldline employs more than 7,300 people worldwide and generated 1.15 billion euros revenues in 2014. Worldline has successfully completed the GRI Content Index Service for its Corporate Social Responsibility report in accordance with the GRI-G4 comprehensive option. Worldline is an Atos company. worldline.com