Visa acquired Lithuanian Earthport Payment Services

Ellex Valiunas advised the global payment cards giant Visa indirectly acquiring 100 % of shares of UAB Earthport Payment Services, a payment institution licensed in Lithuania. Having assessed the provided documents and other information, the Bank of Lithuania did not oppose the acquisition, reports Ellex Valiunas.

Visa is a global leader in the payment card sector, and Visa Inc. is a listed company traded on the New York Stock Exchange.

The sole shareholder of UAB Earthport Payment Services is Earthport PLC, a United Kingdom based payment institution. The company was recognized as one of the Fintech Power 50 companies in October 2018. Visa and Mastercard bided for the acquisition of this company.

Ellex Valiunas team advised Visa on all acquisition of payment institution issues, prepared a notice of intention to acquire shares of payment institution and represented the company in the Bank of Lithuania.