March 21 (Reuters) - Mint Corp MIT.V
* THE MINT CORPORATION: ACQUISITION OF A UAE FINANCIAL COMPANY
* HAS ADVANCED USD $5.45 MILLION AS A DEPOSIT TO SECURE RIGHT TO ACQUIRE UAE CENTRAL BANK LICENSED FINANCIAL COMPANY
* DEAL FOR $27.25 MILLION
* GFI AND GLOBAL BUSINESS SERVICES FOR MULTIMEDIA HAVE EACH AGREED TO PROVIDE USD $7.5 MILLION OF FUNDING TO ACQUIRE FINANCIAL COMPANY
* EXPECTS THAT ACQUISITION WILL FACILITATE LAUNCH OF A LENDING PROGRAM TO PAYROLL CARDHOLDERS
* ACQUISITION OF THE UAE FINANCIAL COMPANY WILL OCCUR THROUGH A HOLDING COMPANY FORMED IN UAE
* DIRECTORS OF THE FINANCIAL COMPANY HAVE STEPPED DOWN IN FAVOUR OF NOMINEES OF GFI AND GBS
* GBS AND GFI WILL EACH HOLD A 25% BENEFICIAL OWNERSHIP INTEREST IN THE HOLDING COMPANY FORMED IN THE UAE
* GFI OWNS ABOUT 76% OF OUTSTANDING COMMON SHARES OF MINT; GBS OWNS 49% BENEFICIAL INTEREST IN MINT GROUP
* HOLDING COMPANY AND FINANCIAL COMPANY WILL BOTH HAVE A BOARD OF 5 DIRECTORS, 3 OF WHOM TO BE APPOINTED BY GBS, 2 TO BE APPOINTED BY GFI Source text for Eikon: ID:nCCN471lv1 Further company coverage: MIT.V