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Personal finance observation, musing and decisions in a journey toward financial independence by 36 with at least $1 million.

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Visa Is Contemplating IPO





First Goldman Sachs, then Mastercard. Now Visa is planning to put itself for sale too. As a good franchise, it may be a nice investmen at the right price.

From WSJ:

Visa said it is positioning itself for what will likely be a major initial public offering in coming months as the credit-card brand echoes the move this year by rival MasterCard Inc.

Visa will restructure its international branches through a series of mergers and emerge as a new stock corporation owned by Visa members.

"The global corporation intends to begin the IPO process and list its shares on a major stock exchange," Visa said. "It is expected that a majority of the shares in the reorganized company will be sold to the public."

As part of the restructuring, the board of Visa Inc. will be comprised of a majority of independent directors. A search for independent directors and a chief executive for Visa Inc. is under way, the company said.

With 3,564 employees in the U.S., Visa links more than 13,000 financial institutions, 6.3 million merchant acceptance locations and 500 million cards. The firm was incorporated in Delaware in 1970 as National BankAmericard Inc. and changed its name to Visa in 1976.

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