Majority interest in its insurance business sold by Fiserv Inc
Wed. July 16, 2008; Posted: 06:36 AM
Jul 16, 2008 (M2 EQUITYBITES via COMTEX) --
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PowerRating -- Fiserv Inc (NASDAQ: FISV), an integrated information management systems
and services company, revealed on 15 July that Trident IV, a private
equity fund managed by Stone Point Capital LLC, has completed the
transaction to acquire a 51% interest in Fiserv's insurance business.
Stone Point Capital LLC (http://www.stonepoint.com), a private equity
firm serving as the manager of the Trident Funds, has raised over
USD10bn of committed capital for investments in the insurance and
financial services industries.
Fiserv now has 49% equity interest in the business and received around
USD510m in net after-tax proceeds.
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