Fidelity National Sells 55% Stake In Worldpay To GTCR For $11.7B Net Proceeds; Retains 45% Stake
Portfolio Pulse from Nabaparna Bhattacharya
Fidelity National Information Services (FIS) has agreed to sell a 55% stake in its Worldpay Merchant Solutions business to private equity funds managed by GTCR, valuing the business at $18.5 billion. FIS will retain a 45% stake and receive net proceeds of approximately $11.7 billion. The deal is expected to close by Q1 2024. FIS also previewed its Q2 2023 results, expecting to be above the mid-point of its revenue guidance.
July 06, 2023 | 12:55 pm
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FIS is selling a majority stake in Worldpay to GTCR, but will retain a 45% stake. The deal will bring in $11.7 billion in net proceeds for FIS.
The sale of a majority stake in Worldpay to GTCR will bring in significant proceeds for FIS, while allowing it to retain a substantial stake in the business. This could provide a boost to FIS's financial position and flexibility, potentially leading to a positive impact on its stock price in the short term.
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