GTCR Buys Majority Stake Valuing Worldpay at $18.5 Billion (2)

Private equity firm GTCR LLC agreed to buy a majority stake in Worldpay, the Fidelity National Information Services Inc. unit that handles card payments for businesses all over the world, in a deal valuing the target at $18.5 billion.

FIS will receive upfront, net proceeds of about $11.7 billion and retain a non-controlling 45% ownership interest in the new standalone joint venture, according to a statement Thursday. The valuation includes $1 billion contingent on returns realized by GTCR.

The deal is a part of a turnaround plan crafted by Stephanie Ferris, FIS’s newly installed chief executive officer. Ferris has ...