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RBS sells remainder of WorldPay

by FMAdmin Someone
    RBS sells remainder of WorldPay
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    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.

    Currently pending regulatory approval, the transaction is expected to be completed by the end of the year.

    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.

    Currently pending regulatory approval, the transaction is expected to be completed by the end of the year.

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