Visa Updates S-4 Registration Statement
Visa Inc. has filed with the SEC Amendment No. 5 to the Visa Inc. Form S-4 Registration Statement. Visa filed its original S-4 on June 22, 2007.
Update: Visa announced today that its registration statement on Form S-4 filed in connection with its proposed restructuring was declared effective by the United States Securities and Exchange Commission (SEC) on September 13, 2007.
Visa will now proceed with securing the required approval of member financial institutions for the restructuring. The restructuring contemplates a series of transactions by which Visa International, Visa USA and Visa Canada will become subsidiaries of a single stock corporation, Visa Inc. Visa Europe will remain a membership association and will become a licensee of, and own a minority interest in, Visa Inc. The boards of directors of Visa International, Visa USA, Visa Europe and Visa Canada have approved the restructuring agreement.
"We're grateful for the SEC's timely review of our registration statement, and we will immediately begin the member approval process in anticipation of closing the restructuring as soon as possible," said Joseph W. Saunders, Chairman and CEO.
Add your comment... (note that all comments are reviewed before they're published)