TPG and Clayton Dubilier solo for WorldPay-sources

LONDON, July 16 (BestGrowthStock) – The bidding field for Royal Bank
of Scotland’s (RBS.L: ) payment processing business has widened to
three ahead of Monday’s final offer deadline, people familiar
with the matter said on Friday.

Private equity firms TPG [TPG.UL] and Clayton, Dubilier &
Rice have opted to work alone on potential offers for WorldPay
after on-off talks failed to produce a consortium bid, the
people said.

Solo status puts both firms in a weaker position than
frontrunners Advent International and Bain, which have been
working together since the early stages of the process.

It remains unclear whether TPG and CD&R will both be in a
position to submit final bids. Given the size and complexity of
the business, RBS had encouraged the two private equity firms to
team up.

RBS’s Global Merchant Services (GMS) unit, which includes
the WorldPay business, is expected to fetch 2.5 billion pounds
to 3 billion pounds ($3.84 billion to $4.61 billion), industry
sources have said.
($1=.6503 Pound)
(Reporting by Simon Meads, Steve Slater and Victoria Howley;
editing by Simon Jessop)

TPG and Clayton Dubilier solo for WorldPay-sources