RBS sells WorldPay to Bain Capital

The Royal Bank of Scotland (RBS) has sold its 20 per cent stake in WorldPay to private equity firms Bain Capital and Advent International.

RBS said it expected to record a £160m profit from the sale of the payment processing company in its 2013 results.

RBS sold the the majority of its stake in WorldPay to the two private equity firms in in 2010 for £3bn. The bank was forced to sell WorldPay by European Union regulators as a penalty for its bailout.

After the sale, Advent International and Bain Capital will be the full owners of a company which is the second largest ATM provider in the US.

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