Fiserv’s $2.2 Billion Secondary Offering


Simpson Thacher represented New Omaha Holdings L.P., an affiliate of Kohlberg Kravis Roberts & Co. L.P. (the “Selling Stockholder”), in the offering. Davis Polk advised the representatives of the several underwriters.

The secondary offering of 20,125,000 shares of Fiserv, Inc.’s (“Fiserv”) common stock, included the full exercise of the underwriters’ option to purchase additional shares, by the Selling Stockholder for proceeds of approximately $2.2 billion. The Selling Stockholder received all proceeds from the offering.

Fiserv is a leading global provider of payments and financial services technology solutions, serving clients around the globe, including banks, credit unions, other financial institutions and merchants. Fiserv is publicly traded on the NASDAQ Global Select Market and part of the S&P 500 Index. In July 2019, Fiserv acquired First Data, a global leader in commerce-enabling technology and solutions for merchants, financial institutions and card issuers.

The Simpson Thacher team included Richard Fenyes (Picture), Tony Rim and Elise Quinones (Capital Markets); Jonathan Lindabury and Mimi Cheng (Derivatives); Jennifer Nadborny (Public Company Advisory Practice); and David Blass (Investment Adviser).

Davis Polk advised BofA Securities, Inc., Citigroup Global Markets Inc., KKR Capital Markets LLC, as representatives of the several underwriters with partner Byron B. Rooney, counsel Elliot M. de Carvalho and associate Amber Leary. The tax team included partner Michael Farber and associate Erin van Wesenbeeck. Associate Samantha Lefland provided intellectual property advice.

Involved fees earner: Elliot de Carvalho – Davis Polk & Wardwell; Michael Farber – Davis Polk & Wardwell; Amber Leary – Davis Polk & Wardwell; Samantha Lefland – Davis Polk & Wardwell; Byron Rooney – Davis Polk & Wardwell; Erin van Wesenbeeck – Davis Polk & Wardwell; David Blass – Simpson Thacher & Bartlett; Mimi Cheng – Simpson Thacher & Bartlett; Richard Fenyes – Simpson Thacher & Bartlett; Jonathan Lindabury – Simpson Thacher & Bartlett; Jennifer Nadborny – Simpson Thacher & Bartlett; Elise Quinones – Simpson Thacher & Bartlett; Tony Rim – Simpson Thacher & Bartlett;

Law Firms: Davis Polk & Wardwell; Simpson Thacher & Bartlett;

Clients: Bank of America Securities; Citigroup Global Markets Ltd; KKR Capital Markets Limited; New Omaha Holdings;

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Author: Ambrogio Visconti