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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. 

Lithuanian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

More information on Cobalt can be found at www.cobalt.legal

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