Mastercard to buy part of payments company Nets for $3.19 billion


FILE PHOTO: Mastercard Inc. credit cards are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration/File Photo

(Reuters) – Payments processor Mastercard Inc (MA.N) on Tuesday said it would buy a majority of the corporate services businesses of European payments company Nets for about $3.19 billion.

The deal is expected to close in the first half of 2020, the company said in a statement.

(This story corrects headline to clarify Mastercard is acquiring part of Nets’ business, not the whole company)

Reporting by Bharath Manjesh in Bengaluru

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