Blackstone and CVC’s £2.96 billion acquisition of Paysafe

Linklaters has advised a consortium of banks on the financing of the acquisition of Paysafe Group Plc by Blackstone and CVC.

Paysafe is a leading global provider of end to end payment solutions. With over 20 years of online payment experience, a combined transactional volume of US$48 billion in 2016 and over 2,300 staff located in 12 global locations, Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world.

Linklaters advised Credit Suisse AG, London Branch, Credit Suisse Securities (USA) LLC, Jefferies Finance LLC, Morgan Stanley Bank International Limited, BMO Capital Markets Corp. and Deutsche Bank AG, London Branch as arrangers of a $2,090,000,000 first lien facility, a $500,000,000 second lien term facility and a $175,000,000 revolving credit facility, to finance the acquisition of Paysafe Group Plc by Blackstone and CVC.

The £2.96 billion public-to-private takeover was implemented by way of an Isle of Man scheme of arrangement, which became effective on 20 December 2017 with the consideration being paid to shareholders and the transaction completing on 3 January 2018.

The Linklaters team was led by Head of Leveraged Finance Adam Freeman (picture) and Banking partners Robert Burt and Ed Aldred and Corporate partner Iain Wagstaff.

 

Involved fees earner: Adam Freeman – Linklaters; Robert Burt – Linklaters; Edward Aldred – Linklaters; Iain Wagstaff – Linklaters;

Law Firms: Linklaters;

Clients: Credit Suisse; Deutsche Bank London branch; Jefferies; Morgan Stanley; Credit Suisse Securities Limited; BMO Capital Markets;