Allied Irish Banks PLC has secured European antitrust approval to form a merchant acquiring joint venture with First Data Corp., a unit of the New York private-equity company Kohlberg Kravis Roberts & Co.
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The European Commission, the 27-nation European Union's antitrust regulator in Brussels, said Friday that the venture "wouldn't significantly impede effective competition."
The venture, AIB Merchant Services, will be based in Dublin and will provide acquiring services for merchants in Ireland, England, and other countries in Europe.
