PaymentsSource – 8/7/15: Payments processor First Data, purchased by private equity firm KKR in 2007 for $29.8 billion through a leveraged buyout, recently filed a registration with the SEC for an initial public offering. Many Wall Street analysts have pegged First Data as the next big thing. However, that’s quite contrary to the debt-saddled company those same analysts criticized just a few years ago. Ultimately, First Data looks ready for a second public life. First Data is expected to bring about a turnaround after going public, giving KKR the opportunity to cash in on its investment. The IPO should help alleviate the company’s debt burden, enabling improved cash flow and profitability, thereby helping First Data compete more effectively.
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