Ellex advised First Data Baltics Corporation in sale of First Data companies in the Baltic States to Worldline
Atos has announced that its subsidiary Worldline has achieved the completion of the agreement with First Data Corporation announced on July 25th, 2017, for the acquisition of 100% of the share capital of First Data’s fully owned subsidiaries in Lithuania, Latvia and Estonia (First Data Baltics).
Ellex has acted as a local legal adviser in the Baltic States for First Data Corporation in the € 73 million divestment of subsidiaries, financed by available cash.
‘’Investment of such size is a clear testimony of continuous interest and commitment of foreign capital to our region and its main magnet – IT companies. The Baltics is definitely back on radar screen of serious players as more transactions are in pipeline." comments Sven Papp, partner and head of corporate and M&A practice group of Ellex in Estonia.
With a revenue of € 23 million in 2016, First Data Baltics currently employs 200 employees and is the leading financial processor in the Baltics. It provides services to the main Baltic banking groups and a large range of outsourcing services to some banks in the wider Nordic region.