27th Nov 2013 11:09
LONDON (Alliance News) - Royal Bank of Scotland Group PLC Wednesday said it has sold the rest of its stake in the WorldPay global payments business to the private equity owners, and will book a gain of about GBP160 million in its 2013 results as a result.
In a statement, the bank said it had sold the stake of about 20% to Advent International and Bain Capital. It expects to get regulatory approval for the deal by the end of the year.
RBS sold the bulk of its former credit card processing unit to the private equity companies for GBP1.9 billion in 2010, one of a series of disposals forced on it in return for getting a state bailout during the financial crisis.
RBS shares were up 0.3% at 330.8 pence Wednesday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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