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Fifth Third, Advent complete processing JV (from Corporate Dealmaker)

Fifth Third Bancorp  (NASDAQ:FITB) and the private equity firm Advent International Corp. have completed their $2.35 billion processing joint venture. As The Deal Pipeline subscribers learned in March, Advent agreed to acquire 51% of the Cincinnati bank's payment processing division for $561 million in cash. Fifth Third loaned $1.25 billion...

Posted on July 1, 2009 10:22 AM

Mystery investor in First Data-BofA JV (from Corporate Dealmaker)

On Monday credit and debit card processor First Data Corp. -- a highly leveraged portfolio company of Kohlberg Kravis Roberts & Co. -- announced the formation of a payments joint venture with Bank of America Corp. (NYSE:BAC).The JV will be based in Atlanta, have 1,000 employees, and it expects to...

Posted on June 29, 2009 2:10 PM