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FIS will receive upfront, net proceeds of about $11.7b and retain a non-controlling 45% ownership interest in the new standalone joint venture. The valuation includes $1b contingent on returns realized by GTCR. The deal is a part of a turnaround plan crafted by Stephanie Ferris, FIS’s newly installed chief executive officer.
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“This new separation path for Worldpay positions Worldpay for immediate and long-term success,” Ferris said. “It will allow Worldpay to focus on the distinct needs of its payments clients.”
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