Paysafe Group Ltd. has planned to go public by merging with a white-check company, headed by the billionaire Foley and funded by Blackstone Group Inc. and CVC Capital Partners.
At $9 billion, MultiPlan Inc.’s $11 billion merger with the Churchill Capital Corp is one of the biggest blank-check merger this year. United Wholesale Mortgage and III will awaiting an expected $16 billion partnership with Gores IV Inc.
The investors that have decided to engage in a private placement through Foley’s vehicle are as described in Monday’s declaration, Fidelity National Title Insurance Co., Dan Loeb’s Third Point LLC, Suvretta Capital Management and Hedosophia. Established Paysafe partners will be the major participants in the joint venture, including their private equity and management.
London-based Paysafe — acquired by Blackstone and CVC in 2017 for around $4 billion — provides payment processing services that allow businesses to accept online credit cards, cash and direct-debit transactions. There are also wireless wallet and prepaid cards. The business operates through brands such as Income Access, Paysafecard, Skrill and Ne teller.
In an IPO in August, II raised $ 1.47 billion. His stock closed at $10.62 Friday, which was $1.95 billion in market value.
