RBS Gets 3 Bids In Final Round Of Worldpay Auction - Sources

20th Jul 2010 09:25

By Marietta Cauchi and Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Royal Bank of Scotland Group PLC (RBS) has received three bids in the final round of the auction for its Global Merchants Services division, people familiar with the situation said Tuesday. Advent International Corp. and Bain Capital LLC have submitted a joint bid; while U.S. buyout houses TPG Inc. and Clayton Dubilier & Rice Inc., which until Friday were working on a joint bid, have submitted independent offers, the people told Dow Jones Newswires. Final bids were due by close of business Monday. The unit is being sold by the 83%-government owned bank as part of a disposal program forced on it after being bailed out by the state. It hired UBS AG (UBS) to run the auction earlier this year and is keen to complete a deal by Aug. 6, when it reports its first-half results. Global Merchant Services' biggest asset is RBS Worldpay, which processes credit-card payments in 40 different countries. The unit was expected to attract up to GBP2.5 billion. -By Marietta Cauchi and Patricia Kowsmann, Dow Jones Newswires; +44 207 842 9241; [email protected] (END) Dow Jones Newswires July 20, 2010 04:25 ET (08:25 GMT)