Komerční banka has completed the sale of a 1% stake in Worldline Czech Republic, finalizing its divestment and allowing Worldline to operate independently while continuing their partnership through the KB SmartPay alliance.

Target Information

Komerční banka, a.s., located at Na Příkopě 33/969, 114 07 Prague 1, has announced the completion of the sale of a 1% stake in Worldline Czech Republic, s.r.o. The company, situated at Rohanské nábřeží 670/17, 186 00 Prague 8, was incorporated in 2014 as a wholly-owned subsidiary of Komerční banka, primarily focusing on credit and debit card acceptance services (merchant acquiring). This marked a significant development in the banking sector, as Worldline Czech Republic plays a crucial role in the payment processing landscape.

Since its establishment, Worldline Czech Republic has evolved by acquiring various aspects of Komerční banka's payment acceptance operations. The bank had previously divested a majority of its stake in Worldline Czech Republic, initially selling 80% in September 2016 to foster an alliance, KB SmartPay, aimed at enhancing card payment solutions for merchants in the Czech Republic, followed by an additional 19% in February 2018. Following this latest transaction, Komerční banka holds no shares in Worldline Czech Republic.

Industry Overview in the Czech Republic

The payment processing industry in the Czech Republic has witnessed considerable growth over the last decade, driven by an increased adoption of electronic payment methods. Consumers are increasingly favoring cashless transactions, influenced