SAN JUAN, Puerto Rico--(BUSINESS WIRE)--
EVERTEC, Inc. (NYSE: EVTC) today announced that its operating
subsidiary, EVERTEC Group, LLC and the selling shareholders of Processa
S.A.S agreed to extend the period in which the transaction must close
before each party has the right to terminate the purchase agreement.
This period, which was set to end on December 28, 2015, has been
extended to March 31, 2016. The purchase agreement provides for EVERTEC
to acquire 65% of the share capital of Processa S.A.S., a Colombian
payment processor company that is based in Bogotá. The transaction is
subject to customary closing conditions, including receipt of US federal
bank regulatory approval. The Company is awaiting regulatory approval.
Receipt of US federal bank regulatory approval is dependent on factors
outside the control of EVERTEC. There is no assurance that such approval
will be obtained prior to March 31, 2016 or at all.
About EVERTEC
EVERTEC, Inc. (NYSE: EVTC) is the leading full-service transaction
processing business in Latin America, providing a broad range of
merchant acquiring, payment processing and business solutions services.
The largest merchant acquirer in the Caribbean and Central America - and
one of the largest in Latin America - EVERTEC serves 19 countries in the
region from its base in Puerto Rico. The Company manages a system of
electronic payment networks that process more than 2.1 billion
transactions annually, and offers a comprehensive suite of services for
core bank processing, cash processing and technology outsourcing. In
addition, EVERTEC owns and operates the ATH® network, one of
the leading personal identification number (“PIN”) debit networks in
Latin America. The Company serves a diversified customer base of leading
financial institutions, merchants, corporations and government agencies
with “mission-critical” technology solutions. For more information,
visit www.evertecinc.com.
Forward-Looking Statements
This announcement may contain certain forward-looking statements within
the meaning of the “safe-harbor” provisions of the Private Securities
Litigation Reform Act of 1995. Statements that are not historical facts,
including revenue and earnings estimates and management's expectations
regarding future events and developments, are forward-looking statements
and are subject to significant risks and uncertainties. Important
factors that may cause actual events or results to differ materially
from those anticipated by such forward-looking statements include the
following: the effect of current domestic and worldwide economic
conditions, including sovereign insolvency situations, and future
performance and integration of acquisitions including PROCESSA, and
other risks detailed in the Company’s SEC filings, including the most
recently filed Form 10-K, as applicable. The Company undertakes no
obligation to revise any of these statements to reflect future
circumstances or the occurrence of unanticipated events.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151228005288/en/
EVERTEC, Inc.
Kay Sharpton, 787-773-5442
Investor Relations
IR@evertecinc.com
Source: EVERTEC, Inc.