Linklaters and Weil Gotshal & Manges bagged the leading roles on the £2bn sale of a majority stake in RBS’s Global Merchant Services arm to private equity houses Advent International and Bain Capital.
The consortium of private equity houses has taken an 80.1 per cent stake in the business, which includes the UK bank’s WorldPay and Streamline card operation systems. RBS will retain the remaining 19.1 per cent in the business.
The consortium was advised by a Weil team led by London private equity partner Marco Compagnoni in one of the largest private equity transactions of the year so far.
Linklaters acted for longstanding client RBS on the sale side, led by corporate partner Matthew Middleditch.
For the buyers, Norton Rose advised on regulatory aspects, with partner Jonathan Hebst leading. Kirkland & Ellis partner Stephen Gillespie advised the consortium on financing arrangements.