Davis Polk is advising First Data Corporation on the formation of a joint venture with FLEETCOR Technologies Inc. The new joint venture combines the gift card businesses of both companies. First Data will own 57.5% of the joint venture and FLEETCOR will own 42.5%. The transaction is subject to regulatory approval and other customary closing conditions.

First Data is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. FLEETCOR is a leading global provider of fuel cards and workforce payment products to businesses.

The Davis Polk corporate team includes partners Marc O. Williams and Brian Wolfe and associate Darren M. Schweiger. Michael N. Sohn and partner Jesse Solomon are providing antitrust and competition advice. Partner Frank J. Azzopardi and counsel David R. Bauer are providing intellectual property and technology advice. Partner Michael Mollerus is providing tax advice. Partner Jeffrey P. Crandall and counsel Cynthia Akard are providing executive compensation advice. Members of the Davis Polk team are based in the New York, Washington DC and Northern California offices.

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