Reports: JPMorgan close to concluding deal for major stake in Greece-based Viva Wallet
If sealed, the agreement would entail a significant multinational presence in Greece’s budding fintech sector
JPMorgan Chase & Co. is reportedly close to clinching a deal whereby its acquires 47 percent of Greece-based digital banking and payments provider Viva Wallet, following months of negotiations between the two sides.
If sealed, the agreement would entail a significant multinational presence in Greece’s budding fintech sector.
According to sources, JPMorgan’s bid hovers at around 700 million euros, with acquired shares to come from the three main minority shareholders of the company: Hedosophia (24 percent), the Latsis family (13 percent) and Deca (10 percent).
Based on the cited figure, capitalization for Viva Wallet is unofficially calculated at roughly 1.5 billion euros.
Company founder Haris Karonis would retain the remaining 53 percent.
The prospect was alluded to last week by the Greek prime minister’s chief economy adviser, Alexis Patelis, who on his Twitter account referred to two major buyouts by US interests of Greek companies, a development he said was a “vote of confidence” and a herald of more FDIs.
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