Private equity firm, Advent International, is buying a $2.35 billion stake in Fifth Third Bancorp’s processing business, AltAssets reports. The transaction will give Advent a controlling stake in Fifth Third’s merchant acquiring and financial institutions businesses.

Morgan Stanley and Weil, Gotshal & Manges acted as financial and legal advisor, respectively, to Advent. Credit Suisse acted as exclusive financial advisor to Fifth Third on the deal.

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