Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Paysafe Reaches $9 Billion Deal to Go Public With Foley SPAC

Dec. 7, 2020, 12:35 PM

Paysafe Group Ltd., the online payments firm backed by Blackstone Group Inc. and CVC Capital Partners, agreed to go public by merging with a blank-check firm led by billionaire Bill Foley.

The deal with Foley Trasimene Acquisition Corp. II values Paysafe at about $9 billion including debt, the companies said in a statement Monday. The special purpose acquisition company will raise $2 billion in a private placement to help fund the transaction.

Bloomberg News first reported last month that talks about a deal were underway. At $9 billion, it is among the largest blank-check mergers this year, behind ...