LONDON (Alliance News) - Bank of America Merrill Lynch Thursday said two private equity firms that are invested in London-listed Worldpay Group PLC have sold all of the shares they put up for sale under a placing, selling a 13.8% stake in the company for GBP740.0 million.
Advent International Corp and Bain Capital LLC made 275.0 million shares that they held in Worldpay available for sale under a placing launched on Wednesday, with Barclays Bank PLC, Goldman Sachs International, Merrill Lynch International and Morgan Stanley & Co International acting as joint bookrunners.
Early Thursday, it was revealed that all of those shares were sold at a price of 269.0 pence per share, raising GBP740.0 million in total. None of those proceeds will be going to Worldpay.
Worldpay shares closed at 282.54 pence per share on Wednesday, 5% higher than the placing price.
Following the transactions, Advent and Bain hold 564.5 million shares in Worldpay, leaving them with a 28.2% combined stake.
Originally, only 250.0 million shares, equal to a 12.5% stake, were made available for sale but the amount of shares available was increased later Wednesday.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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