4 Firms Assist As Zip Inks $403M Deal For Fellow Fintech Co.

Law360 (June 2, 2020, 3:27 PM EDT) -- Australia's digital payment company Zip has agreed to buy the remaining shares of QuadPay that it didn't already own for about $403 million, the companies said Tuesday, in a deal guided by four law firms that stands to create a single fintech business worth $1 billion.

The stock deal, guided by Skadden Arps Slate Meagher & Flom LLP, Arnold Block Leibler, DLA Piper and Gilbert + Tobin, sees Zip Co., an Australian digital retail finance and payments company, buying 86% of shares in point-of-sale lender QuadPay Inc., according to a statement. Once the deal is finalized, QuadPay shareholders are expected to own about 23.3% of...

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