DENVER, March 10 /PRNewswire-FirstCall/ -- First Data Corp. (NYSE: FDC), a
global leader in electronic commerce and payment services, today announced
that its 67 percent interest in GCA Holdings LLC, the parent holding company
of Global Cash Access LLC (GCA), was repurchased as part of a recapitalization
of GCA. GCA is a leading supplier of cash access and customer relationship
marketing technologies to the gaming industry.
M&C International Inc., GCA's founder, now owns slightly more than
95 percent of GCA's parent holding company and Bank of America Corporation
owns the remainder.
"Selling our majority stake in GCA enables us to sharpen our focus on our
core competencies and business segment growth," said First Data Chairman and
CEO Charlie Fote. "At the same time, we can build on our solid six-year
relationship with GCA by continuing to offer First Data services through GCA
to the gaming industry."
GCA will continue to offer First Data products and services to the gaming
industry, including Western Union Money Transfers and TeleCheck check
guarantee services. First Data, Bank of America and M&C International formed
GCA in 1998 to provide cash advance and related services to the gaming
industry.
About First Data
First Data Corp. (NYSE: FDC), with global headquarters in Denver, helps
power the global economy. As a leader in electronic commerce and payment
services, First Data serves approximately 3.5 million merchant locations,
1,400 card issuers and millions of consumers, making it easy, fast and secure
for people and businesses to buy goods and services using virtually any form
of payment. With 30,000 employees worldwide, the company provides credit,
debit, smart card and stored-value card issuing and merchant transaction
processing services; Internet commerce solutions; money transfer services;
money orders; and check processing and verification services throughout the
United States. First Data also offers a variety of payment services in the
United Kingdom, Australia, Canada, Japan, Mexico, Spain, the Netherlands, the
Middle East and Germany. Its Western Union and Orlandi Valuta money transfer
networks include a total of approximately 182,000 agent locations in more than
195 countries and territories.
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SOURCE First Data Corp.
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CONTACT:
Investor Relations, Gary Kohn,
+1-303-967-8276, gary.kohn@firstdatacorp.com, or Media Relations,
Mary Walker, +1-770-857-7188, mary.walker@firstdatacorp.com, both
of First Data Corp.
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