RBS sells remaining stake in online payment firm
The state-backed lender sold an 80 per cent stake in WorldPay to Advent International and fellow private equity firm Bain Capital three years ago for about £1.7 billion.
Today it said the duo have agreed to buy the remaining 20 per cent interest in the business – which also provides ATM services and payment terminals for retailers – and “a gain on disposal of around £160m is expected to be recorded in our 2013 results”.
The deal is subject to regulatory approval, which is expected by the end of the year.