21st Jul 2016 12:23
LONDON (Alliance News) - Royal Bank of Scotland Group PLC on Thursday said it expects to make a GBP150.0 million pretax gain from the sale of its stake in VocaLink Holdings Ltd to US credit card giant MasterCard Inc.
On Thursday, MasterCard said it has agreed to acquire a 92.4% stake in VocaLink, a payments platform operator, for GBP700.0 million.
RBS holds a 21.4% stake in VocaLink and said it will get its share of the consideration from MasterCard in cash, plus a contingent deferred payout in 2019 subject to VocaLink's performance.
RBS shares were up 0.2% to 195.10 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
RBS.L