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11 天前
BRIEF-Vantiv enters into transaction agreement with Fifth Third Bank
2017年8月8日 / 下午3点27分 / 11 天前

BRIEF-Vantiv enters into transaction agreement with Fifth Third Bank

Aug 8 (Reuters) - Vantiv:

* On August 7, entered into a transaction agreement with Fifth Third Bank - SEC filing​

* Share purchase is conditioned on company publishing a firm offer to acquire Worldpay Group PLC

* Share purchase is subject to termination, if among other things, firm offer to acquire Worldpay Group PLC is not made by August 31, 2017​

* Under ‍agreement Fifth Third Bank agreed to exchange 19.8 million class B units in Vantiv holding for 19.8 million shares of Co's class A common stock​

* Company will purchase newly issued shares of class a common stock directly from Fifth Third Bank at a price of $64.04 per share​

* As a result of share purchase, Fifth Third Bank will beneficially own approximately 8.6% of equity in the Co and Vantiv Holding, LLC

* If acquisition of Worldpay is consummated, Fifth Third will beneficially own 4.9 percent of equity interests in company and Vantiv Holding LLC​

* Executed amendment to co's existing credit facility to permit co to obtain approximately $1.27 billion of additional seven-year term B loans​

* ‍expects to record liability of about $650 million during quarter ending Sept. 30, under co's tax receivable agreement with Fifth Third Bank Source text: (bit.ly/2uCLDF4) Further company coverage:

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