Popular, Inc. · NASDAQ:BPOP
Popular — Merger or Acquisition (February 2022)
5 slides from Popular's merger presentation, Feb 24, 2022
Slide 1: Popular Agrees to Acquire Key Customer Channels and Renegotiates Commercial Contracts with Evertec
Popular Agrees to Acquire Key Customer Channels and Renegotiates Commercial Contracts with Evertec February 24, 2022 Exhibit 99.1
Slide 2: Cautionary note regarding forward-looking statements
Cautionary note regarding forward-looking statements This presentation contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including without limitation those about Popular, Inc.’s (“Popular” or the “Corporation”) planned acquisition
Slide 3: Transaction summary
Transaction summary Popular has entered into an agreement with Evertec to acquire key customer channels; also renegotiated and extended important service agreements Acquire: Digital banking platform (“Mi Banco”), cash management online application, and other digital customer service applications Ren
Slide 4: Savings from acquisition of channel assets
Savings from acquisition of channel assets MSA CPI reductions MAB Revenue Share / ATH Incentives Income Effect Lost equity income (shares used as consideration) Sub-Total The acquisition of channel assets results in a marginal negative impact of $21 million in Tangible Book Value, representing the n
Slide 5: Summary of transaction benefits
Realize net gain on the sale of Evertec shares with intention to return such gain to shareholders through share repurchases (subject to regulatory approval) Ability to control key channel applications and enable greater innovation Accelerates transformation to our technology target state Enhances fl