(CercleFinance.com) – Worldline announces the finalization of the sale of its Terminals, Solutions & Services (TSS) business line to the Apollo funds, as announced on February 21. From now on, the independent company will operate exclusively under the Ingenico name.
The payment services group has contributed around 85% of Ingenico shares to investment funds managed by Apollo, with the disposal of around 15% remaining to take place on January 1, 2023, in line with the planned timetable.
The transaction, finalized after its approval by the competent authorities, will simplify the structure of the group and allow it to focus more on its payment services activities thanks to the sale proceeds.
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 through preferred shares for an amount of up to to 0.9 billion.