Global Payments Acquires Remaining Interest in Asia-Pacific Joint Venture

Global Payments Inc. (NYSE: GPN), a worldwide provider of electronic transaction processing solutions, announced that it has completed the acquisition of the remaining 44% interest in its merchant services joint venture in Asia-Pacific from The Hongkong and Shanghai Banking Corporation Limited.

In 2006, Global Payments and HSBC formed a joint venture, Global Payments Asia Pacific Limited, to provide payment processing services to merchants in Asia-Pacific, in which Global Payments' ownership was 56%. Under the terms of today's agreement, Global Payments will pay HSBC a total of US$242 million.  Global Payments will continue to be HSBC's preferred strategic partner for card acquiring services in Asia-Pacific, covering 11 markets.

The positive effect of this acquisition is included in the company's existing fiscal 2013 outlook.


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