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Volkswagen Payments is based in Luxembourg but operates in 32 markets globally

Investment Banking Editor

JPMorgan has bought a 75% stake in German car giant Volkswagen's payments business, the second acquisition by the US bank in Europe in the past four months.

The bank said that it had struck a deal with Volkswagen Financial Services to take a controlling 75% stake in its payments platform, and has plans to expand the unit into other industries following the acquisition.

JPMorgan strikes deal for major stake in Volkswagen payments business

Paul Clarke

Volkswagen

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