Our Bank Regulatory Group represented First Data Corp., the world's largest provider of electronic commerce and payment services, in its sale to an affiliate of Kohlberg Kravis Roberts & Co. (KKR). To close the transaction, our attorneys had to procure numerous regulatory approvals involving over 50 jurisdictions within an aggressive timeframe. Leveraging their strong relationship with the various state banking regulators, our attorneys procured the necessary change-in-control approvals and non-objections on an expeditious basis. In addition, the team devised a novel and complex solution to a potential federal law barrier to the transaction: converting First Data's industrial bank into a trust company.