UK based RBS bank said it has sold its remainder of 20% in world leading payment processor, WorldPay, to Advent International and Bain Capital.
In December 2010, RBS sold an 80% stake in WorldPay to Advent and Bain for the amount of £2.025 billion. There is no report on how much the remaining 20% was sold for, but RBS did state to local news outlets that the sale will gain a profit of £160 million in its 2013 earnings. Calculations from English based media sources point towards an approximate amount of £250 million for the transaction.
ATFX Institutional Business Continues to Expand: Adding a New Prime BrokerGo to article >>
Currently pending regulatory approval, the transaction is expected to be completed by the end of the year.