RBS to sell stake in credit card firm

Royal Bank of Scotland today sold a majority stake in the UK's biggest credit card payment firm.

RBS to sell stake in credit card firm
Fri, 06 Aug, 2010 - 16:15

Royal Bank of Scotland today sold a majority stake in the UK's biggest credit card payment firm.

The deal to sell 80.01% of its WorldPay business to a team led by private equity giants Advent International and Bain Capital values the division at £2.025bn (2.43bn) and will result in a gain of around £850m (1.02bn)to RBS, boosting its balance sheet.

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CourtsBusinessHeathrowPlace: UKPlace: EuropePerson: Bruce Van SaunOrganisation: RBSOrganisation: Royal Bank of ScotlandOrganisation: WorldPayOrganisation: Advent InternationalOrganisation: Bain CapitalOrganisation: RBS Global Merchant ServicesOrganisation: SantanderOrganisation: Advent
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