FIS - Buyout firms explore bid for majority-stake in FIS's Worldpay unit - FT

2023-07-01 15:53:39 ET

Buyout firms are exploring purchasing a majority stake in Fidelity National Information Services ( NYSE: FIS ) Worldpay unit at a valuation of more than $15 billion.

Private equity firm Advent, which was previously part of consortium that owned Worldpay, is evaluating making an offer, according to a Financial Times report on Friday. Chicago-based PE firm GTCR has also studied a bid.

The report comes after Fidelity National ( FIS ) announced in February that it planned to spin off its Merchant Solutions business , known as Worldpay. Fidelity National purchased Worldpay for about $35 billion in 2019.

The payment technology company in December announced it started a comprehensive review of its strategy, businesses, operations, and structure as part of a cooperation agreement with shareholder D.E. Shaw .

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