First Data merger with KKR affiliate on track to close in September

By Lisa Kerner

Charlotte, N.C., Aug. 21 - First Data Corp. said it has received all required domestic and international regulatory approvals in its pending acquisition by an affiliate of Kohlberg Kravis Roberts & Co. for $34 per share.

"Achieving this milestone is a critical step for First Data and KKR," First Data chief executive officer Ric Duques said in a company news release.

"We continue to work closely together to ensure a smooth transition and expect to close the transaction by the end of September."

The merger transaction, valued at about $29 billion, was announced on April 2.

Denver-based First Data provides electronic commerce and payment solutions for businesses.

Kohlberg Kravis Roberts, a private equity firm specializing in management buyouts, has offices in Menlo Park, Calif., New York, London, Paris, Hong Kong and Tokyo.

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