KKR Completes Its Buyout of First Data

The New York private-equity firm Kohlberg Kravis Roberts & Co. completed its acquisition of the Denver payment processing company First Data Corp., one of the largest leveraged buyouts in history.

First Data's stockholders will receive $34 a share in cash. The deal was announced in April with a price of about $29 billion. Shareholders approved the transaction July 31.

Michael D. Capellas has become First Data's chairman and chief executive. He succeeded Henry C. "Ric" Duques, who had held the titles since November 2005 and previously had been its chairman from 1992 to 2003 and its CEO from 1987 to 2003.

As a result of the acquisition, which closed Monday, First Data became a privately held company, but KKR has said it wants to take the processor public at some point.

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