Global Payments to buy Worldpay in $24bn deal

Payments provider Global Payments has announced a $24.2 billion cash-and-stock acquisition of rival Worldpay from GTCR, less than two years after GTCR acquired a majority stake in Worldpay. Under the deal, GTCR will receive 59% of the value in cash, retaining a 15% stake in Global Payments post-transaction, while FIS will control Worldpay’s issuer solutions arm valued at $13.5 billion. This deal significantly increases the value of GTCR’s initial investment, which was made with over $5 billion in equity and $8 billion in debt, effectively doubling its stake’s worth.