TITLE

Advent Buys Stake In Fifth Third Unit

AUTHOR(S)
Davis, Avram
PUB. DATE
April 2009
SOURCE
Mergers & Acquisitions Report;4/6/2009, Vol. 22 Issue 14, p33
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on private equity firm Advent International's acquisition of a 51% interest in the transaction processing business of Fifth Third Bancorp. Approximately 561 million U.S. dollars would be paid by Advent for the stake in the venture, which would be named Fifth Third Processing Solutions. A 49% stake would be retained by Fifth Third. According to Advent managing partner David Mussafer, additional acquisitions would be pursued by the company to further develop the venture.
ACCESSION #
44127708

 

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