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AIB eyes EUR100m Payzone acquisition

AIB eyes EUR100m Payzone acquisition

Allied Irish Banks (AIB) is in exclusive talks to buy local payments outfit Payzone in a deal that could be worth EUR100 million, according to the Sunday Times.

Dublin-based Payzone, which was acquired by Carlyle Cardinal Ireland in 2015 for EUR39 million, operates a consumer payments network with more than 7000 retail agents, offering mobile phone top ups, card transactions, motorway toll and parking payments and bill payment services.

Following up on the Sunday Times story, the Irish Times, citing sources, says that AIB is working on the deal with US giant First Data, with which it operates a card payment processing joint venture.

Negotiations have been ongoing for months, says the Irish Times, and could be completed within weeks, with AIB the majority partner in the First Data partnership.

AIB and Carlyle Cardinal Ireland are refusing to comment on the speculation.

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