Visa’s $2.1 Billion Acquisition of Tink

Orrick Herrington & Sutcliffe LLP advised ABN AMRO Ventures on the deal, while White & Case LLP and Cuatrecasas advised Tink.

Visa announced its acquisition of Swedish financial technology start-up Tink for 1.8 billion euros ($2.1 billion), in a deal aimed at bolstering the payment giant’s digital ambitions.

The deal comes after Visa’s bid to buy Plaid, an American rival to Tink, was torpedoed by U.S. regulators. Plaid has since opted to go it alone as an independent company, and was last privately valued by investors at $13.4 billion.

Plaid and Tink both operate in a nascent space known as open banking, which calls on lenders to provide third-party firms with access to coveted consumer banking data, provided they’ve got consent. Open banking has flourished in Britain and the EU thanks to new regulation.

Visa will fund the transaction from cash on hand. The transaction is subject to regulatory approvals and other customary closing conditions.

The Orrick team was led by Shawn Atkinson (Picture) and includes Patrick Driscoll, Stephen Tallon and Hanna Hewitt.

The White & Case team which advised on the transaction was led by partners Henrik Wireklint (Stockholm) and Hyder Jumabhoy (London) and included partners Nicholas Greenacre, Tim Hickman, Jonathan Rogers, Philip Trillmich, Helen Joseph (all London), Tilman Kuhn (Dusseldorf), Laura Hoyland (Berlin), Carl Hugo Parment, Martin Järvengren (both Stockholm) and Carlos Daroca (Madrid), local partner Mathis Rust (Dusseldorf), counsel Carsten Loesing (Frankfurt) and associates Elin Brännström, Marcus Halling, Carl Runesson, Johanna Wagner (all Stockholm), Mark Richardson, Christian Holbrook, Richard Wilson, Alexander Miles-Dinham (all London), Cristina Caroppo (Dusseldorf) and Mathias Bogusch (Frankfurt).

Cuatrecasas advised Tink with a team led by its partner Diana Rivera, which included Jorge Canta, Andrew Ward, Alejandro Negro, Jorge Aranaz, Natalia Tallada, Raúl Pérez, Lucas Peiro de la Rocha, Leticia Prado and Ignacio Hernández Pardo.

Involved fees earner: Andrew Ward – Cuatrecasas; Jorge Aranaz – Cuatrecasas; Jorge Canta – Cuatrecasas; Ignacio Hernández Pardo – Cuatrecasas; Alejandro Negro – Cuatrecasas; Lucas Peiro – Cuatrecasas; Raúl Pérez de Arévalo – Cuatrecasas; Leticia Prado – Cuatrecasas; Diana Rivera – Cuatrecasas; Natalia Tallada – Cuatrecasas; Shawn Atkinson – Orrick Herrington & Sutcliffe LLP; Patrick Driscoll – Orrick Herrington & Sutcliffe LLP; Stephen Tallon – Orrick Herrington & Sutcliffe LLP; Mathias Bogusch – White & Case; Elin Brännström – White & Case; Cristina Caroppo – White & Case; Carlos Daroca – White & Case; Nicholas Greenacre – White & Case; Marcus Halling – White & Case; Tim Hickman – White & Case; Christian Holbrook – White & Case; Laura Hoyland – White & Case; Martin Järvengren – White & Case; Helen Joseph – White & Case; Hyder Jumabhoy – White & Case; Tilman Kuhn – White & Case; Carsten Lösing – White & Case; Alexander Miles-Dinham – White & Case; Carl Hugo Parment – White & Case; Mark Richardson – White & Case; Jonathan Rogers – White & Case; Carl Runesson – White & Case; Mathis Rust – White & Case; Philip Trillmich – White & Case; Johanna Wagner – White & Case; Richard Wilson – White & Case; Henrik Wireklint – White & Case;

Law Firms: Cuatrecasas; Orrick Herrington & Sutcliffe LLP; White & Case;

Clients: ABN AMRO; Tink;

Author: Federica Tiefenthaler