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Stock impact report

Corpay Completes Mastercard’s Minority Investment in Cross-Border Business

Corpay, Inc. (CPAY) 
Company Research Source: Business Wire
Transaction values Corpay Cross-Border Business at approximately $13 billion ATLANTA--(BUSINESS WIRE)--Corpay, Inc. (NYSE: CPAY), the corporate payments company, today announced that it has completed Mastercard’s (NYSE: MA) $300 million minority investment into Corpay’s cross-border business.In April, Mastercard announced the $300 million investment at an approximately $13.0 billion enterprise valuation (inclusive of the recently closed Alpha Group PLC transaction) for a ~2.3% equity stake.In combination with the investment, Mastercard and Corpay signed a new commercial partnership aimed at bringing Corpay cross-border services to Mastercard’s financial institution customer base.Corpay also continues to increase its use of Mastercard Move in additional geographies for time-sensitive, real-time transactions.“We’re thrilled to close this minority investment, establish a new cross-border partnership targeting FIs, and extend our longstanding card issuing relationship with Mastercard,” Show less Read more
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