Deals
Private Equity Firm GTCR Buys Majority Stake Valuing Worldpay at $18.5 Billion
- Sale of FIS unit to generate upfront proceeds of $11.7 billion
- Deal is part of CEO Stephanie Ferris’s turnaround plan for FIS
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Private equity firm GTCR LLC agreed to buy a majority stake in Worldpay, the Fidelity National Information Services Inc. unit that handles card payments for businesses all over the world, in a deal valuing the target at $18.5 billion.
FIS will receive upfront, net proceeds of about $11.7 billion and retain a non-controlling 45% ownership interest in the new standalone joint venture, according to a statement Thursday. The valuation includes $1 billion contingent on returns realized by GTCR.