Retail Decisions - Sale of Australian businesses

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Slaughter and May is advising Retail Decision ("ReD") on the sale of its Australian businesses to Wright Express Corporation, the US fleet and corporate card specialists, for €243 million.

Retail Decisions provides payment processing and payment fraud prevention services. The Australian businesses being sold comprise ReD Fuel and ReD Prepaid.

Proceeds from this transaction will be used to repay all of Retail Decision's debt and to make a distribution to shareholders. Palamon and its co-investors, Morgan Stanley Alternative Investment Partners and AlpInvest Partners, will receive a payment equivalent to substantially all of the initial investment and will retain their controlling ownership in the company.

Following the sale of the Australian businesses, ReD will consist of a payment fraud prevention and processing business active in Europe, the Americas, Asia-Pacific and South Africa.

David Wittmann (partner); Financing: Sarah Paterson (partner), Andrew McClean (partner)