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Further to the announcement dated December 7th, 2021, Eurobank, having received all necessary approvals, announces the completion of the spin-off of its merchant acquiring business (“Business”) to Cardlink Payment Institution S.A. (“Cardlink One”) a licensed payment institution and the transfer of 80% of Cardlink One’s shares to Worldline while Eurobank will retain the remaining 20%.

The transaction is expected to contribute ca. 80 bps to Eurobank’s Group CET I ratio (based on Q1’2022 ratios). The cash consideration for the 80%, after certain adjustments, amounted to ca. € 254m. The transaction also entails additional conditional payments, referral fees and customary minority protection rights.

As part of the transaction, Eurobank also entered into a long-term commercial partnership with Worldline aiming to leverage its strong banking network as a key commercial channel to distribute Worldline products in Greece. The combination of Worldline’s global scale, best-in-class technologies and expertise with Eurobank’s strong market position and distribution network, will allow Worldline to deliver value added and innovative merchant acquiring products and services to Eurobank customers and the market.