Weil, Kirkland Rep Bain-Advent Duo In $3.2B RBS Sale

Law360, New York (August 6, 2010, 12:32 PM EDT) -- The Royal Bank of Scotland Group PLC is set to sell off a controlling stake in its global merchant services business to private equity firms Advent International Corp. and Bain Capital LLC in a deal valued at up to $3.2 billion.

Under the terms of the deal, revealed Friday, the equity duo will hold an 80.01 percent majority stake in the new GMS group, while RBS will hold a minority stake of 19.99 percent, according to RBS.

The $3.2 billion enterprise value of the transaction includes...
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