RBS sells remaining stake in online payment firm

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Royal Bank of Scotland today said it expects to book a £160 million profit on the sale of its remaining stake in online payment processing business WorldPay.

The state-backed lender sold an 80 per cent stake in WorldPay to Advent International and fellow private equity firm Bain Capital three years ago for about £1.7 billion.

Today it said the duo have agreed to buy the remaining 20 per cent interest in the business – which also provides ATM services and payment terminals for retailers – and “a gain on disposal of around £160m is expected to be recorded in our 2013 results”.

The deal is subject to regulatory approval, which is expected by the end of the year.

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