RBS Gets Three WorldPay Bids

(Reuters) – Royal Bank of Scotland (RBS.L) received three bids for its $4 billion payment processing business WorldPay by Monday’s deadline, a person familiar with the matter said.

All interested parties are private equity firms. As expected, Advent International and Bain have teamed up, while TPG has also bid and so has Clayton, Dubilier & Rice, the source said. The Advent/Bain consortium is seen as the front runner.

RBS is being forced to sell the global merchant services (GMS) unit, which includes the WorldPay business, by European Union regulators as a cost of taking state aid. The business is expected to fetch between 2.5 billion pounds and 3 billion pounds (($3.8 billion and $4.6 billion), industry sources have said. ($1=.6541 Pound) (Reporting by Steve Slater and Simon Meads; Editing by Hans Peters)