Santamarina Steta

Visa acquires a majority participation in Prosa

Santamarina y Steta, S.C., led by Partners Sergio Chagoya and Diego Ostos and by Senior Associate Elías Zaga, with key support from Bernardo Aguado, Redy Martínez and Esteban Soto, acted as special external legal counsel to Promoción y Operación, S.A. de C.V. (“Prosa”), its holding company, Controladora Prosa, S.A. de C.V., and its shareholders Banorte, HSBC, Invex, Santander and Scotiabank, in the acquisition by Visa of the 51% share capital stock of Prosa, a leading company in the payments ecosystem in Mexico, which is considered the largest in Latin America and ranked among the 10 key payment processing companies in the world.

Prosa has more than 200 clients across a wide range of sectors, such as banks, fintechs,aggregators, department and retail stores, among others. The transaction is subject to the approval of the Mexican competent authorities.

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