Payment giants Worldpay and Vantiv sealed their £9.3 billion merger on Wednesday, one month after the deal hit the headlines.

Vantiv, the US payment processing heavyweight, will merge with UK-based rival Worldpay, in a deal that will see Vantiv shareholders owning 57 percent of the business. Vantiv will pay 397p for each share, plus another £1.3 billion to cover debts.

Worldpay said: “The combination of scale and presence the merger will bring is an exciting step in the creation of a truly global leader in payments.”

The board will consist of four Worldpay and seven Vantiv directors, and the combined company’s global and corporate headquarters will be in Cincinnati, Ohio. Its “international headquarters” will be in London.