FTC clears First Data’s buy of BluePay

First Data received regulatory approval to buy BluePay Holdings Inc, a Nov. 14 notice on the Federal Trade Commission website shows.

New Omaha Holdings LP is listed as buying BluePay, the FTC notice said. New Omaha is KKR’s investment vehicle for First Data.

Early-termination notices appear on the FTC site after the regulator has conducted an antitrust review of a deal. First Data is a KKR portfolio company.

Last month, First Data mistakenly revealed that it was in talks to buy BluePay for $760 million. First Data yanked the announcement but later confirmed its discussions for BluePay, which is backed by TA Associates.

The BluePay auction was one of the summer’s most anticipated deals. The Naperville, Illinois, company processes $14 billion in transactions annually. It has been up for sale since June. BluePay was expected to fetch $700 million to $800 million.

TA acquired BluePay in 2013 for more than $200 million, Buyouts reported at the time.

KKR has owned First Data since 2007. In September, the New York buyout shop filed to sell 85 million shares of First Data in a secondary. KKR retained 48 percent of the common stock after the offering and 89 percent of voting power, an SEC filing said.

First Data, KKR and BluePay did not return calls or message for comment.

Action Item: Contact BluePay CEO Bala Janakiraman at +1 866-739-8324

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