Thomas H. Lee Partners Recaps MoneyGram

Thomas H. Lee Partners will recapitalize payment services company MoneyGram International Inc. in a deal that gives the private equity firm a 55% stake in MoneyGram, Reuters reported. Under the terms of the recapitalization agreement, Thomas H Lee Partners will convert all of its Series B shares into common stock. Goldman Sachs will convert all of its Series B-1 preferred shares into Series D participating convertible preferred stock, Reuters wrote. MoneyGram is based in Minneapolis, Minnesota.

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