M&A

M&A

ICICI Bank to sell entire 19% stake in ICICI Merchant Services

Economic Times   ICICI Merchant Services  

Publicly listed ICICI Bank is to sell the entire 19% stake in fellow Mumbaai-based ICICI Merchant Services Pvt Ltd (IMSPL) to its US-based JV partner, Fiserv (formerly First Data).ICICI Merchant Services , a joint venture between ICICI Bank and First Data, was formed in 2009 to handle merchant acquiring services, with First Data holding 81% and ICICI Bank 19%.