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Article: United States: Global Payments to form JV with HSBC Bank.

Article from:
TendersInfo
Article date:
June 24, 2008
Copyright

Byline: yunus05

Global Payments Inc. (GPN: News, Chart, Quote ), a provider of electronics transaction processing solutions has agreed to form a joint venture with HSBC Bank Plc, a wholly owned subsidiary of HSBC Holdings Plc (HSBA.L: News, Chart, Quote ), to provide payment processing services to merchants in the United Kingdom and Internet merchants globally.

Under the deal, Global Payments agreed to pay US$439 million in cash to HSBC to acquire a 51% majority ownership in the joint venture, while the remaining stake will be controlled by HSBC. The new company will operate under the name HSBC Merchant ...

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