FIS in the sale of a majority stake in its Worldpay Merchant Solutions business to GTCR in a deal valuing Worldpay at $18.5 billion
On July 6th, 2023, FIS® (NYSE: FIS) announced that it has accelerated its previously announced separation plan to create two highly focused global companies with greater strategic flexibility by entering into a definitive agreement to sell a majority stake in its Worldpay Merchant Solutions business to private equity funds managed by GTCR. The transaction values Worldpay at $18.5 billion, including $1 billion of consideration contingent on the returns realized by GTCR exceeding certain thresholds. FIS is retaining a 45% equity interest in Worldpay.
Wachtell, Lipton, Rosen & Katz is serving as legal advisor to FIS.