LONDON, Nov 2 (Reuters) - Barclays Plc said itexpected to make a post-tax profit of about 400 million pounds($618.6 million) when a takeover of Visa Europe by Visa Inc. is completed, which it expects next year.
Visa Inc said on Monday it would acquire former subsidiaryVisa Europe for 16.5 billion euros ($18.2 billion), with thepotential for an additional payment of up to 4.7 billion euros.
The sum will be paid to more than 3,000 members of VisaEurope. Sources have previously told Reuters that Barclays isthe biggest bank active in the Visa Europe network.
The bank said the upfront consideration receivable oncompletion will comprise cash and preferred stock convertibleinto Visa Inc. An additional deferred cash consideration mayalso be payable following the fourth anniversary of closingsubject to an earn-out mechanism, the bank said.
($1 = 0.6466 pounds) (Reporting by Steve Slater, editing by Sinead Cruise)