Visa to buy Visa Europe in deal worth up to 21.2b euros

Visa Inc said on Monday it would acquire former subsidiary Visa Europe for 16.5 billion euros ($18.19 billion), with the potential for an additional payment of up to 4.7 billion euros.

The upfront payment comprises 11.5 billion euros in cash and preferred stock convertible into Visa Inc class A common stock valued at 5 billion euros.