Worldpay delists from London Stock Exchange

In line with previous reports by FinanceFeeds, payments technology company Worldpay Inc (NYSE:WP) today announces its delisting from the London Stock Exchange.

The listing of Worldpay’s shares of Class A Common Stock on the standard segment of the Official List of the Financial Conduct Authority was cancelled with effect from 8:00 a.m. (BST) today. The Shares ceased to be admitted to trading on the Main Market of the London Stock Exchange with effect from the same time.

The shares will continue to be traded on the New York Stock Exchange.

Worldpay’s delisting from LSE is part of its steps toward completing its merger with FIS. As part of the FIS Transaction, Worldpay has agreed to use its reasonable best efforts to take, or cause to be taken, all actions reasonably necessary to cause the Delisting before completion of the FIS Transaction. The FIS Transaction is subject to a number of conditions, including receipt of required shareholder and regulatory approvals.

In its first quarter 2019 report, Worldpay provided an update on how its deal with FIS is progressing.

Based on the Company’s substantial progress toward completing post-merger integration, Worldpay now expects to achieve $250 million in annualized cost synergies by year-end 2019, up from its previous expectation to achieve $200 million in annualized cost synergies by year-end 2020. In addition, Worldpay is increasing its in-year 2019 cost synergies forecast to $180-$190 million from $130-$140 million.