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Evertec Deal To Buy Colombia’s Processa Apparently Delayed By US Regulators

Posted On December 29, 2015
By : Loren Moss
Comment: Off
Tag: bogotá, colombia, credit card processor, evertec, evertec group, nyse:evtc, procesa, processa, usa

Evertec, Inc. (NYSE: EVTC) today announced that its operating subsidiary, Evertec Group, LLC and the selling shareholders of Processa S.A.S agreed to extend the period in which the transaction must close before each party has the right to terminate the purchase agreement.

This period, which was set to end on December 28, 2015, has been extended to March 31, 2016. The purchase agreement provides for Evertec to acquire 65% of the share capital of Processa S.A.S., a Colombian payment processor company that is based in Bogotá.

The transaction is subject to customary closing conditions, including receipt of US federal bank regulatory approval. The Company is awaiting regulatory approval. Receipt of US federal bank regulatory approval is dependent on factors outside the control of Evertec. There is no assurance that such approval will be obtained prior to March 31, 2016 or at all.

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About the Author
Loren Moss is the founder and publisher of Finance Colombia. He has over 20 years of international business experience, including over a decade of experience in securities, insurance, and commercial real estate, at the institutional and international level.
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