Photo: EBURY / Europa Press
Santander and Centerbridge win EU approval for joint control of Ebury
The European Commission found the UK payments transaction would not raise competition concerns.
Banco Santander and Centerbridge Partners have received European Commission approval to take joint control of UK payments company Ebury.
The Commission said Tuesday that the proposed transaction would not raise competition concerns.
Ebury raised about £550 million ($744 million) in April through funding rounds led by Centerbridge. Santander, Vitruvian Partners and 83North also reinvested.
Santander contributed £50 million and retained a 55% stake, remaining Ebury’s majority shareholder.
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Ebury operates in 30 regulated markets and serves more than 27,000 businesses worldwide. The company said its revenue has grown by more than 30% annually since Santander invested in 2020.