Private equity firms Blackstone and CVC Capital Partners have tabled an indicative £2.9bn bid for a FTSE 250 payments company — with dealmaking in the sector showing no signs of cooling.

Paysafe Group, which provides payment processing and other tools to businesses and consumers, said in a statement that it was initially approached by the two firms in May 2017. It has given them permission to conduct due diligence based on an offer of 590 pence per share.