Eurazeo is to sell its stake in integrated payments leader, Planet. As part of the transaction Eurazeo will reinvest and co-control the Company with Advent International (Advent).

Under this agreement, Planet is valued at EUR1.8 billion. With this operation, Eurazeo and its affiliates show a total valuation of 2.5x their original investment and approximately 19 per cent IRR.

Planet is a world-class integrated payments business delivering innovative products and digital services across Retail, Hospitality, Food and Beverage, Parking and Financial sectors. The Company provides integrated digital payment services on a unique single platform that offers acquiring, processing, digital wallets, VAT refund and currency conversion services. By partnering with Planet, merchants enhance their customers’ omnichannel experience, while generating additional revenue from Planet’s value-added payments services.

Under Eurazeo and Advent co-ownership, the Company will pursue its development through a combination of organic growth and acquisitions.

Read more/Source: Private Equity Wire