Greece’s “unicorn” Viva Wallet has signed a deal with American banking giant JP Morgan, with the latter acquiring approximately 49 percent of the online bank, according to greekreporter.com.
Specifically, JP Morgan will acquire the Viva Wallet shares controlled by three funds: Hedosophia (24 percent), the Latsis family (13 percent) and Deca (10 percent).
Top Viva Wallet shareholders Haris Karonis and Makis Antypas maintain the majority stake of 51 percent and will continue to run the company, the newspaper Naftemporiki reports.
“Unicorn” is a term used in the venture capital industry to describe a private startup company with a value of over $1 billion.
According to media reports, JPMorgan valued Viva Wallet Holdings at $2 billion, with the American giant paying close to half of that for the share acquisition.
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