ANZ has completed its previously announced acquisition of Worldline’s 51% stake in Worldline Australia, which operates as ANZ Worldline.
The completion gives ANZ full ownership of the merchant payments business.
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The deal was first announced in April, when ANZ said it had agreed to acquire Worldline’s 51% share for an enterprise value of A$89m ($63.4m) on a 51% basis. ANZ also flagged an estimated implied equity value of approximately A$30m on a 51% basis, and an estimated impact of approximately 6bps on Level 2 CET1 at completion.
In an update confirming close, ANZ linked the transaction to its strategic priorities.
“The acquisition aligns to the ANZ 2030 strategy, strengthening our direct relationship with our customers and reinforcing the bank’s position as the transactional bank of choice,” it said.
ANZ and Worldline formed the joint venture in 2022 to provide payment acceptance services for merchants across Australia. ANZ Worldline offers in-store, online and integrated payment solutions for small business, commercial and institutional customers.
Around 270 ANZ Worldline employees will transfer to the ANZ Group as part of the acquisition.
The bank added that customers should not expect operational disruption during the integration process. It said customers will continue to use ANZ Worldline services and products “as they do today”.
In a separate statement, Worldline also confirmed the completion of the transaction.
The payments services and technology provider has been divesting assets.
Earlier this year, Worldline agreed to sell its Indian business to BillDesk as it focuses on core payment activities in Europe.
Worldline said combined net cash proceeds from announced divestments are estimated at €590-640m, with the funds directed to “strengthening the group’s financial profile” and “enhancing strategic flexibility”.
“Worldline’s management remains focused on executing the North Star 2030 transformation plan with the aim of restoring the group’s revenue growth and strong free cash flow generation,” the company said.
