PARIS (Agefi-Dow Jones)–Payment specialist Worldline announced on Monday that it has completed the sale of its Terminals, Solutions & Services business to investment funds managed by Apollo.
All relevant authorities have approved the acquisition by the Apollo funds, Worldline said in a statement.
The divested business will now operate “exclusively under the Ingenico name”, Worldline said.
Worldline has completed the sale and contribution of approximately 85% of Ingenico shares to the Apollo funds, with “the sale of the remaining approximately 15% expected to take place on January 1, 2023, in accordance with the planned timetable”, the group said.
“The disposal price for Worldline is based on a current fair enterprise value of approximately €2.3 billion, including approximately €1.7 billion of initial value and up to €0.9 billion of euros of preference shares”, recalled the group.
“Net of realization price adjustments and net of tax, Worldline will receive total proceeds of approximately €1.4 billion and will remain exposed to Ingenico’s future value creation via preference shares for an amount ranging from up to €0.9 billion (approximately €0.6 billion fair value at signing date),” Worldline added.
-Alice Doré, Agefi-Dow Jones; +33 (0)1 41 27 47 90; [email protected] ed: VLV
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October 03, 2022 01:16 ET (05:16 GMT)