ING BANK SLASKI S.A. Further to current report no. 36/2015 of 23 December 2015, the Management Board of ING Bank Śląski S.A. ("Bank") hereby give notice that they received the information regarding the allocation of settlement of the Visa Europe Limited (Visa Europe) takeover by Visa Inc. The transaction will close in Q2 2016. The transaction (Visa Europe) is valued at EUR 18.37 billion, which is payable as up-front consideration comprising EUR 12.25 billion in cash, and EUR 5 billion in Visa Inc. preferred stock, and a deferred cash payment of EUR 1.12 billion (the "Deferred Payment"), to be paid 3 years after the closing date.
As a Visa Europe member, ING Bank Śląski S.A. will be one of the transaction beneficiaries. Pursuant to the information received, the impact of the transaction closing on ING Bank Śląski S.A. is as follows:
EUR 33.1 million in cash,
12,030 Series C Visa Inc. preferred stock,
a percentage of the Deferred Payment totalling 0.2553478580% of the amount, subject to potential adjustments, if any.
Legal grounds: Article 56 section 1 item 1 of Act on Public Offering and Terms and Conditions of Introduction of Financial Instruments in the Organised Trading System and Public Companies.
ING Bank Slaski SA published this content on 17 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 June 2016 14:19:41 UTC.
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