Fidelity National sells Worldpay for $11.7 billion – Kommersant
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American fintech company Fidelity National Information Services (FIS) agreed on the sale of a majority stake in its Worldpay Merchant Solutions division (the former British payment operator Worldpay) to the GTCR investment fund.
Under the terms of the deal, FIS will give GTCR a 55% stake in Worldpay, for which it will receive an upfront payment of $11.7 billion. At the same time, the American company will own 45% of the shares in a new joint venture with Worldpay, through which the companies will continue cooperation.
GTCR will become the third owner of Worldpay in the last six years. Initially, the company was a division of the Scottish bank RBS, but during the global financial crisis, the bank was forced to seek rescue from the authorities of the country, and in exchange for state aid, RBS had to sell this business. It ended up going to Advent International and Bain Capital for around £2bn.
In mid-2017, the company was bought out by one of the largest US credit card processing companies, Vantiv, for $10.4 billion. In March 2019, Worldpay united with FIS. Then the American company paid about $35 billion for a majority stake in the British payment operator. And Worldpay itself was valued at $43 billion. The current deal values the business at only $18.5 billion.
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