Wednesday, November 25,  6:54 am

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With its shares yet to recover from a five-year slide, Fifth Third Bancorp has agreed to sell 51% of its payment processing division to private equity firm Advent International Corp. in a deal that values the unit at about $2.35 billion.

In a statement released on Monday, the two companies said the Cincinnati bank will contribute the assets and operations of its merchant and financial institutions processing businesses to a new company to be called Fifth Third Processing Solutions LLC.

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