Dewey & LeBoeuf has represented Alfa Bank, one of the largest Russian private banks, on the sale of its merchant acquiring business to United Card Service (UCS), a Russian subsidiary of Global Payments Inc., the leading international payment processing company.
The transaction was structured as an asset sale and involved the referral of the existing acquiring clients and transfer of POS-terminals to UCS. The parties also entered into a 10-year cooperation arrangement, with Alfa Bank retaining its role as settlement bank for payments processed by UCS, and agreeing to refer clients for merchant acquiring services to UCS.
Moscow Partner Dmitry Gubarev and Counsel Alexei Matsuev led the Dewey & LeBoeuf team.
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