Covington Represents Seller Group in Sale of Stake of Argentinian Payments Company

Covington Represents Seller Group in Sale of Stake of Argentinian Payments Company

March 23, 2022

NEW YORK—Covington advised the seller group in the sale of a 49% ownership stake in Prisma Medios de Pago, Argentina's largest payments processing company, to Advent International. Covington previously advised the group in the 2019 sale of a controlling stake in Prisma to Advent International.

Prisma is Argentina's leading payments processing company. Established in 2014 through the merger of Visa Argentina and Banelco, Prisma brings together more than 30 years of experience in the local payments market. The company provides payment technology solutions, enabling connections between financial institutions, merchants and consumers by developing high-quality and secure solutions across the whole payments value chain.

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. Advent has been operating in Latin America for 22 years. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media, and telecom.

Sergio Urias led the Covington team, with M&A support from Brent Little, Thomas Lopez, and Global Visiting Lawyer Reginald Horn.