Fifth Third Sells Worldpay Shares, Sees Pretax Gain of About $200 Million
June 27 2018 - 5:06PM
Dow Jones News
Fifth Third Bancorp Inc. (FITB) sold 5 million Worldpay Inc.
(WP) Class A shares and expects to record a pretax gain of about
$200 million in the second quarter.
Fifth Third now owns about 3.3% of Worldpay's equity through its
ownership of about 10.3 million Class B Units.
In 2009, Fifth Third spun off Fifth Third Processing Solutions,
which was later rebranded as Vantiv. Vantiv bought Worldpay Group
for roughly $10 billion and changed its name to Worldpay.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
June 27, 2018 16:51 ET (20:51 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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