LONDON (Reuters) – Five bids, including four from private equity firms, have been selected to move through to the second round of the auction for Royal Bank of Scotland’s (RBS.L) payment processing business, people familiar with the matter said on Tuesday.
Canada’s biggest card payment processor, Moneris Solutions, buyout firms CVC [CVC.UL], joint suitors Advent International and Bain Capital, TPG and Warburg Pincus make up the bidding group, the sources said.
The Global Merchant Services (GMS) unit, which includes the WorldPay business, is expected to fetch 2.5 billion to 3 billion pounds ($4 billion to $4.8 billion), industry sources have said.
The bidders have declined to comment or were not immediately available. RBS declined to comment.