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Madison Dearborn Partners Completes Acquisition of MoneyGram
MoneyGram International, Inc. (NASDAQ: MGI) (“MoneyGram” or the “Company”), a leading global financial technology company that connects the world’s communities, and Madison Dearborn Partners (“MDP“), a leading private equity investment firm based in Chicago, today announced that funds affiliated with MDP have completed their previously disclosed all-cash acquisition of MoneyGram for $11.00 per share. MoneyGram’s common stock has ceased trading and will be delisted from the Nasdaq stock market.
“Completing the transaction with MDP marks the beginning of a transformative new chapter for the organization,” said Alex Holmes, MoneyGram Chairman and CEO. “With MDP’s support, MoneyGram is uniquely positioned to accelerate our growth strategy, expand our network to reach more consumers worldwide, and advance our position as the leader in cross-border payment technology.”
“We see tremendous opportunity for MoneyGram’s leading financial technology solutions, particularly in light of the continued, rapid digitization of the global economy,” said Brendan Barrett, a Managing Director on MDP’s Financial and Transaction Services team. “MDP looks forward to providing the platform and resources for the MoneyGram team to capitalize on the numerous opportunities ahead and further enhance its market-leading cross-border capabilities.”
Holmes concluded: “We are incredibly appreciative of our employees, agents and partners, who have placed their trust in us and continued to provide innovative solutions to our customers throughout this process. We’re excited to work alongside them and our new investment partners at MDP as MoneyGram builds on its commitment to deliver exceptional products and value to our customers.”
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