July 21, 2017Blog Posts

Blackstone, CVC make $3.7 billion bid for payments firm Paysafe


A consortium of Blackstone and CVC Capital Partners has made a 2.86 billion pound ($3.71 billion) bid for payments processing company Paysafe Group, joining a growing number of deals in the sector. The 590 pence per share all-cash offer represents a premium of about 9 percent to Paysafe’s closing price on Thursday. Payments companies have become targets for credit card companies and banks seeking to capitalize on a switch from cash transactions to paying by smartphone or other mobile device. Recently, U.S. credit card processor Vantiv made a 7.7 billion pounds bid for Britain’s Worldpay, while Danish payment services firm Nets A/S revealed it had been approached by potential buyers.


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