Apollo Funds Acquires TSS Activities From Worldline

Cleary Gottlieb represented the investment funds managed by affiliates of Apollo (Apollo Funds) in the acquisition and acquisition financing of the Terminals, Solutions & Services (TSS) business line from Worldline.

Following consultation of the works councils of Worldline and TSS, and approval from regulatory and antitrust authorities, Apollo acquired 85% of TSS, with the remaining 15% to be transferred on January 1, 2023.

The acquisition followed a competitive process launched in mid-2021 by Worldline, the France-based leader in payment services. The transaction was announced on February 21, 2022, and closing occurred on September 30, 2022.

Worldline and TSS will sign a partnership agreement cementing the strategic and long-term commercial relationship over the next five years.

Paul, Weiss, Rifkind, Wharton & Garrison LLP also acted as counsel to Apollo Funds.