FIS approves the sale of Worldpay’s majority interest at a USD 18.5 billion price

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In a deal that values the division at USD 18.5 billion, FIS has agreed to sell 45% of its Worldpay Merchant Solutions business to private equity funds managed by GTCR.

The valuation includes USD 1 billion in consideration that will only be paid if GTCR’s returns reach predetermined levels. As part of Stephanie Ferris’s reevaluation of the company’s asset portfolio, FIS had planned to spin off Worldpay. However, it was revealed earlier this week that the financial behemoth had shifted course and was seeking to divest a majority interest.

The company will receive about USD 11.7 billion in upfront net cash while keeping a non-controlling 45% ownership stake in a brand-new standalone joint venture.

Read More: FIS agrees sale of majority stake in Worldpay at $18.5bn valuation

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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