Worldline has outlined a plan to secure €500m (approximately $576m) from a group of French banks to support its business transformation.
The capital raising will take place in two phases: an initial reserved share placement of €110m to Bpifrance, Crédit Agricole, and BNP Paribas.
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This will be followed by a rights issue worth €390m, which will be open to all shareholders.
The participating banks have committed a total of about €135m to the rights issue.
The reserved capital raise and the rights issue are anticipated to be concluded by the first quarter of 2026.
Once the fundraising is completed, Bpifrance is set to hold a 9.6% stake in the payments firm, Credit Agricole 9.5%, and BNP Paribas 7.9%.
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By GlobalDataWorldline’s backer and Switzerland’s stock exchange operator SIX Group stated it will not take part in the capital raise.
As a result, SIX anticipates an estimated impairment of SFr 550m ($678m) on its holding and will treat the stake as a financial investment going forward.
Worldline has outlined new long-term goals, targeting a compound annual growth rate of 4% from 2027 to 2030 and about €1bn in earnings before interest, taxes, depreciation, and amortisation (EBITDA), supported by an estimated €210m in annual savings from its transformation programme and an organic contribution of roughly €150m.
The European firm expects positive free cash flow as early as 2027.
Worldline plans to divest its mobility business, North American activities, and electronic data management unit, aiming to generate up to €400m in cash proceeds from these sales.
Worldline CEO Pierre-Antoine Vacheron said: “To accompany our strategic transformation while strengthening Worldline’s financial structure at this pivotal moment, the board of directors has approved a €500m capital increase.
“I am grateful for the commitment of our existing reference shareholders Bpifrance, Crédit Agricole SA and BNP Paribas to participate in the capital increase, a vote of confidence in our company.
“Support of key European financial institutions operating in our main geographies demonstrates the importance of Worldline in the European economy and a strong support to our strategic plan ahead. All our renewed executive team is committed to a stronger Worldline, back to growth and substantial cash flow generation.”
