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...This article has been updated to add details on the size of Worldpay’s term loan...
...Chicago-based private equity investor GTCR on Thursday set a new bar for ambition in today’s challenged takeover market with a deal to buy a majority stake in Worldpay from Fidelity National Information...
...There have been signs of increasing activity in recent weeks, however, with GTCR agreeing to buy a stake in Worldpay in a deal valuing the payments company at up to $18.5bn....
...There are signs that it is already happening, with JPMorgan Chase and Goldman Sachs lining up $8.4bn of debt to fund GTCR’s purchase of a majority stake in payments provider Worldpay....
...The giddy increase in Worldpay’s valuation led some politicians to complain that UK taxpayers suffered a raw deal in the original sale in 2010....
...Shares in the company have climbed 36 per cent in the past six months, fuelled by speculation of a takeover and a series of deals in the European payments processing sector, including for the UK’s Worldpay...
...Visa, the payments network, and Worldpay, the transaction processor, were both caught up in the storm and later said Coinbase was not at fault....
...Last year CVC Capital Partners and Blackstone bought British group Paysafe for £3bn, while US processor Vantiv paid £9.3bn for Worldpay....
Consolidation is needed among European payments systems providers
...The fund has also led activist campaigns against Autodesk, the US software company, the American hospital staffing supplier TeamHealth and the payments group Worldpay....
...In early August, Vantiv of the US agreed a £9.3bn deal to acquire Worldpay, its main UK rival....
...Corporate earnings reports out today include Janus Henderson, Michael Kors, Worldpay, Standard Life, Intercontinental Hotels, Paddy Power, Rotork and Pets at Home....
...Advent International has accumulated experience in the electronics payment sector through acquisitions such as RBS Worldpay in the UK and Fifth Third in the US....
...A consortium of US private equity groups has been successful in its £2bn (€2.4bn, $3.1bn) purchase of WorldPay, the payments processing business of RBS of the UK....
...Voice Commerce Group, an unlisted payments company run by Nick Ogden, a founder of part of RBS WorldPay, is understood not to have submitted a bid, in spite of expectations....
...Wednesday is the deadline for offers for a business centred on the WorldPay payments processing operation....
...If RBS’s GMS business, best known for its WorldPay brand, does go to private equity, it will not be the first big asset sale in the banking sector....
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