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FinTech Futures: Top five stories of the week – 7 July 2023

July 7, 2023

FIS has signed a definitive agreement with US-based private equity firm GTCR to sell a majority stake in its Worldpay merchant business.

GTCR will acquire 55% of Worldpay, with FIS set to receive $11.7 billion in upfront net proceeds. FIS will retain a non-controlling 45% ownership interest in the firm, with the company’s board of directors unanimously approving the transaction.

The deal values Worldpay at $18.5 billion, including $1 billion of consideration contingent on the returns realised by GTCR exceeding certain thresholds.

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