Mayer Brown advises Management in connection with £1.7 billion buy-out of global payments processing unit from RBS
16 August 2010
16 August 2010 - Leading international law firm Mayer Brown advised the Management team of RBS’ global payments- processing unit in connection with the private equity backed £1.7 billion buy-out of that business. The buying entity was backed by Advent International Corp. and Bain Capital LLC with RBS also retaining a stake and a conduit to distribute WorldPay products across its corporate banking network.
The deal which was signed on Friday 6 August is expected to close in the fourth quarter and followed an auction process lasting several months. It is the largest private equity deal in the UK for almost three years and the second-largest leveraged buyout announced in Europe this year.
The Mayer Brown team advised Management in connection with their ongoing service terms and their equity investment into the bidding vehicle.
The Mayer Brown team was lead by Employment partner Nick Robertson, supported by Corporate partners Michael Wallin and Henrietta Walker and associates Katherine Fairbairn (Employment) and Leah Brand (Corporate).
Nick Robertson, partner in Mayer Brown's Employment group, said: "This was a fantastic opportunity to advise the key Management team on the terms of the acquisition and their long term involvement with the bidding vehicle.
“The transaction showcased our top class Employment and Corporate teams who advised on complex arrangements in an extremely tight timescale once exclusivity had been granted to the preferred bidder."
For further information:
Marketing Manager, London
+44 20 3130 8547