M/10/042 – Elavon / Bank of America, N.A.
Transaction details
The Competition Authority has cleared the proposed transaction whereby U.S. Bank National Association, and its subsidiaries Elavon Financial Services Limited, and U.S. Bank Trust National Association would acquire certain businesses from Bank of America, N.A. and its subsidiaries Bank of America (GSS) Limited, and Bank of America National Trust Delaware.
| Notification date | Decision date |
|---|---|
| Wednesday December 8, 2010 | Thursday, December 23, 2010 |
| Parties Involved | Business activities |
|---|---|
| Elavon Financial Services Limited | Wholly-owned by USB, Elavon Ireland is active in end-to-end payment processing services to merchants and financial institutions in Europe. Elavon Ireland's payment products are supported by credit and debit card processing, electronic check services, gift cards, dynamic currency conversion, multi-currency support, and cross-border acquiring. |
| Bank of America N.A. | Bank of America provides securitisation trust and administration services. |
| Economic sector | Media merger |
|---|---|
| Securitisation trust and administration services. | No |
| Submissions from third parties due by: | |
|---|---|
| Phase 1 | Phase 2 |
| Saturday, December 18, 2010 | |
| Current status: Completed |
|---|
| Cleared (Phase 1) |
| Authorised Officer Assigned | Contact Details |
|---|---|
| Andrew Rae | Tel: 01-804 5420, email: ar@tca.ie |
Media enquiries: MKC Communications: 01 7038600
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