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Dutch fintech heavyweight Mollie BV has struck a deal to acquire U.K.-based payments provider GoCardless for €1.1 billion ($1.28 billion), setting the stage for a sweeping European payments network serving more than 350,000 merchants and reshaping competition across the region’s financial rails.

Regulatory Approval Pending for 2026 Completion

Mollie, backed by private-equity titan Blackstone Inc., said Thursday the takeover hinges on regulatory approval, with both sides projecting the transaction will close by mid-2026. If finalized, the merger will fuse two fast-growing players into one of Europe’s largest unified bank-payments platforms.

Legal and Financial Advisers Mobilize Across Multiple Jurisdictions

Mollie is being advised by Ashurst LLP, led by technology M&A partner Chris Grey, while Weil Gotshal & Manges LLP guides Blackstone Growth under private-equity partner Simon Lyell.

Parent company Groupay Inc., which owns the Google-backed GoCardless, is represented by Linklaters LLP, with corporate partners Fionnghuala Griggs, Elena Rubinov and Marleen Wessel steering the deal. BofA Securities and Lazard Inc. are acting as GoCardless’ financial advisers.

Clifford Chance LLP is also advising GoCardless in the transaction.