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Article: MoneyGram Completes Comprehensive Recapitalization with Investor Group Led By Thomas H. Lee Partners, L.P. and Goldman Sachs.
- Article from:
- Business Wire
- Article date:
- March 25, 2008
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Copyright informationCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MINNEAPOLIS -- MoneyGram International, Inc. (NYSE:MGI) today announced that it has successfully completed the transaction with an investment group (the "Investors") led by Thomas H. Lee Partners, L.P. (THL) and Goldman, Sachs & Co. (Goldman Sachs), to provide for a comprehensive recapitalization of the Company. Components of the recapitalization include the following:
* The Investors, which include affiliates of THL and affiliates of Goldman Sachs, have purchased $760 million of Series B and Series B-1 Preferred Stock, convertible into 79% of the common equity of the Company at an initial conversion price of $2.50 per share.
* The Company has also received $500 ...
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