U.S. Bancorp Reaches Agreement to Sell 50.1 Percent Stake in Elavon do Brasil to Stone Pagamentos, S.A.
23 April 2016 - 3:09AM
Business Wire
Minneapolis-based U.S. Bancorp (NYSE: USB), the fifth largest
commercial bank in the United States, and the parent company of
Elavon, Inc., has sold its 50.1 percent majority stake in São
Paulo-based, Elavon do Brasil (EdB) to Stone Pagamentos, S.A, a
local market, privately-held merchant acquirer.
Following the transaction, Elavon do Brasil will continue to
provide the same exceptional service that merchant customers have
come to expect as it transitions its operations to Stone.
Financial terms of the agreement were not disclosed. The
transaction will have no material impact to U.S. Bancorp.
About U.S. BankMinneapolis-based U.S. Bancorp, with $429
billion in assets as of March 31, 2016, is the parent company of
U.S. Bank National Association, the fifth largest commercial bank
in the United States. The Company operates 3,133 banking offices in
25 states and 4,936 ATMs and provides a comprehensive line of
banking, investment, mortgage, trust and payment services products
to consumers, businesses and institutions. Visit U.S. Bancorp on
the web at www.usbank.com.
About Elavon, Inc. (www.elavon.com)Elavon is an
independent card payments specialist owned by U.S. Bancorp, the
fifth-largest bank in the United States, and provides end-to-end
payment processing solutions and services to more than 1.3 million
customers in the United States, Europe, Canada, Mexico, Brazil and
Puerto Rico. As the number one provider for airlines and a top five
provider for hospitality, healthcare, retail, and public
sector/education, Elavon’s innovative payment solutions are
designed to solve pain points for businesses from small to
enterprise-sized.
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version on businesswire.com: http://www.businesswire.com/news/home/20160422005940/en/
Media ContactMr. Dana E. Ripley, 612-303-3167U.S. Bank
Corporate CommunicationsDana.ripley@usbank.comorInvestor
ContactJennifer Thompson, 612-303-0778U.S. Bank Investor
RelationsJen.thompson@usbank.com
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