DENVER - (08/10/04) -- First Data Corp. said it paid a $40million dividend to shareholders of its NYCE electronic fundstransfer network, including $25.5 million to itself, just beforeselling the network in May to Marshall & Ilsley's MetavanteCorp. First Data acquired its stake in NYCE in August 2002 for $353million and sold the stake to Metavante for $389 million. The otherfour shareholders in NYCE, banking giants HSBC, Citibank, JP MorganChase, and Bank of America, received $55.25 million each for their9% shares in the network. First Data was required to sell itsinterest in NYCE under a settlement of an antitrust suit with theDepartment of Justice, which allowed First Data to complete itsacquisition of Concord EFS, parent of the Star Systems EFTnetwork.
First Data Got NYCE Payout
August 10, 2004, 1:00 a.m. EDT 1 Min Read
