RBS sells remaining WorldPay stake to Advent, Bain Capital

By Reuters

Nov 27, 2013 08:04 AM EST

Royal Bank of Scotland said it sold its remaining stake of about 20 percent in WorldPay to the payment processing firm's majority shareholders, private equity firms Advent International and Bain Capital.

RBS, which is majority owned by the British government, said it would record a profit of 160 million pounds ($259 million) on the disposal in its 2013 results.

The British bank sold its majority stake in WorldPay to the two U.S.-based private equity firms for 3 billion pounds in 2010 as part of an EU-mandated asset sale after its state bailout in 2008. 

The deal makes Bain Capital and Advent International the owners of WorldPay, the second-largest provider of ATM services in the United States.

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