Alantra advises BBR on its sale to Evertec
Santiago de Chile – Alantra, the global investment banking firm, has acted as exclusive financial advisor to BBR on the sale of 100% of its shares to Evertec (NYSE: EVTC), a leading payment processing company. The transaction is subject to the regulatory approval of the US Federal Reserve System (FED). The purchase price for the shares is $60 million and is subject to customary adjustments.
With the acquisition, Evertec complements its existing product and technology portfolio in Chile while entering the Peruvian market. The transaction strengthens Evertec’s position as a leading payment processing company in Latin America.
Founded in 1995, BBR is a leader B2B technology and payment solution supplier in South America. BBR provides services to companies in Chile, Peru, Argentina, Colombia, and Mexico. The company has clients such as Cencosud, Banco Santander, Intercorp, Enex, among others.
With a track record of more than 25 years, BBR has facilitated commercial, logistical, and financial exchanges between its clients and their ecosystem, successfully promoting the business of its clients.
Evertec Inc. is a leading full-service transaction processing business in Puerto Rico, the Caribbean and Latin America, providing a broad range of merchant acquiring, payment services and business process management services. Evertec owns and operates the ATH® network, one of the leading personal identification number (“PIN”) debit networks in Latin America.
In addition, the company manages a system of electronic payment networks and offers a comprehensive suite of services for core banking, cash processing and fulfillment in Puerto Rico, that process approximately three billion transactions annually.
Evertec also offers technology outsourcing in all the regions it serves. Based in Puerto Rico, the Company operates in 26 Latin American countries and serves a diversified customer base of leading financial institutions, merchants, corporations and government agencies with “mission-critical” technology solutions.