Deals
JPMorgan Agrees to Take 49% Viva Wallet Stake in Fintech Deal
- European payments landscape is big growth area, exec says
- Deal is bank’s first in 2022, following a prolific last year
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JPMorgan Chase & Co. agreed to take a 49% stake in Greek payments firm Viva Wallet, the latest in the bank’s streak of acquisitions and investments as it seeks to stay ahead of the competition.
The deal is subject to regulatory approvals, and financial terms weren’t disclosed. Bloomberg reported in November that JPMorgan was weighing a potential investment in Viva Wallet, and that at the time Viva Wallet was considering seeking a valuation of at least 1.5 billion euros ($1.7 billion).