Client or Matter Name
Mastercard International, Inc.
Deal Description
We acted as local counsel to Mastercard International, Inc.. in the acquisition by means of a merger of Arcus FI, a company that helps to enable bill pay and cash-in, cash-out services for some of the biggest billers, retailers, fintechs and traditional financial institutions in the U.S. and Mexico, with expansion into Latin America.
Furthermore, Arcus’ platform recently received approval to enable payment processing, settlement and reconciliation via Mexico’s real-time Interbank Electronic Payment System (Sistema de Pagos Electrónicos Interbancarios or SPEI).
Innovation & Additional Comments
The transaction required an active regulatory angle, since Arcus was in the process of being admitted as a participant in SPEI. Arcus is the first money transmitter to be admitted as a participant in a payment system in Mexico.
Through the acquisition, Mastercard accelerates the implementation of electronic payment solutions in Latin America.
Arcus operates subsidiaries in 4 jurisdictions.
Jurisdiction
USA
Mexico
Nicaragua
Dominican Republic
Governing Law
USA
Mexico
Nicaragua
Dominican Republic
Deal Value
Confidential
Deal Duration, Date of Closing / Signing
Closing date on November 23, 2021.
Practice Area
Merger and Acquisitions
Banking Regulation
Team GC
Partner: Daniel Guaida Azar (M&A)
Partner: Jose Victor Torres (M&A)
Partner: Luis Mancera de Arrigunaga (Financial Regulation)
Partner: Cristina Massa (Antitrust)
Associate: Alejandro Ruenes Mata (M&A)
Associate: Jorge Moreno Balcazar (M&A)
Associate: Rafael Fuentes Cataño (Financial Regulation)
Counsel: Juan Carlos Peraza (AML)
Associate: Maria Paula Boustani (Compliance)
Counsel: Patricio Martinez Osorio (Privacy)
Associate: Maria De Las Nieves Hernandez Solano (Privacy)
Counsel: Luis Enrique Cervantes Estevez (Employment)
Associate: Fernando de Buen Ramirez (Employment)
Other Firms Involved
Sidley Austin LLP, as US counsel to Mastercard.
Orrick, Herrington & Sutcliffe, as US counsel to Arcus.
Lenum Advisors, as Mexican counsel to Arcus.
Munguia Vidaurre Law, as local counsel of Arcus in Nicaragua.
Soto Mejia Abogados, as local counsel of Arcus in Dominican Republic.