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Ellex Advises Visa on Acquisition of Earthport Payment Services in Lithuania

Ellex Advises Visa on Acquisition of Earthport Payment Services in Lithuania

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Ellex Valiunas has advised global payment cards giant Visa on its indirect acquisition of 100% of the shares of UAB Earthport Payment Services, a payment institution licensed in Lithuania. 

Visa is an American financial services corporation, headquartered in Foster City, California, and listed on the New York Stock Exchange. It was founded in 1958.

The sole shareholder of Earthport Payment Services is Earthport PLC, a United Kingdom-based payment institution. 

According to Ellex, both Vida and Mastercard bidded to acquire Earthport Payment Services. Upon assessment of the submitted documents and other information, the Bank of Lithuania did not oppose the acquisition.

The Ellex Valiunas team advised Visa on issues related to the acquisition of the payment institution, prepared a notice of intention to acquire shares of a payment institution, and represented the company before the Bank of Lithuania. The firm's team was led by Partner Ieva Dosinaite, supported by Senior Associate Povilas Junevicius and Associate Domantas Gudonis.

Ellex did not reply to our inquiries about the deal. 

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