MoneyGram International Inc said it signed a recapitalization agreement with certain parties including affiliates of Thomas H. Lee Partners , following which the private equity firm would own about 55 percent of the payment services company. Under the terms of the recapitalization agreement, THL and its co-investors will convert all of their Series B Preferred into common stock, and Goldman Sachs will convert all of its Series B-1 preferred shares into Series D participating convertible preferred stock, a non-voting equivalent to common stock. The agreement provides that THL and its co-investors will get about 28.2 million additional common shares and $140.8 million in cash.
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