Private Equity Firm Madison Dearborn To Buy MoneyGram For Around $1.8 Bln Cash

(RTTNews) - Cross-border P2P payments and money transfer company, MoneyGram International, Inc. (MGI), and Madison Dearborn Partners, LLC or MDP, a private equity firm, said on Tuesday that they have inked a deal to allow MDP to buy all outstanding shares of MoneyGram, for $11 per share or around $1.8 billion in cash.

Upon completion of the transaction, MoneyGram will become a private company and MoneyGram shares will no longer be listed on any public market.

Following the transaction, expected to be completed in the final quarter of 2022, MoneyGram shareholders will receive $11 per share of the MoneyGram common stock they own.

MDP will also be refinancing the company's outstanding debt, which was $799 million as of December 31, 2021.

In post-acquisition, it is also expected that MoneyGram will continue to operate under the MoneyGram brand and be led by Alex Holmes and the company's existing leadership team.

MoneyGram will maintain its headquarters in Dallas, Texas.