Visa acquires majority stake in Prosa

Santamarina and Steta, SC, led by the partners Sergio Chagoya y Diego Ostos and by the senior associate Elias Zaga, with the support of Bernardo Aguado, Redy Martinez y Esteban Soto, acted as external legal advisor to Promotion and Operation, S.A. de C.V. ("Prose"), its parent company, Controladora Prosa, SA de CV, and its shareholders Banorte, HSBC, Invex, Santander and Scotiabank, in the acquisition by visa of a share package representing 51% of the share capital of Prosa, a leading company in the payments ecosystem in Mexico, which is considered the largest in Latin America and among the 10 largest payment processing companies in the world.

Prosa has more than 200 clients belonging to a wide variety of sectors, such as credit institutions, fintechs, aggregators, department stores and retailers, among others. This operation is subject to obtaining various authorizations from the competent Mexican authorities.

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