Advent and Bain land Worldpay exclusivity

Advent International and Bain Capital have reached exclusivity in what is set to be the largest buyout in Europe so far this year

Royal Bank of Scotland is in exclusive talks with Advent International and Bain Capital for the sale of its Global Merchants Services division, people familiar with the situation said Friday.

The buyout duo beat off TPG and Clayton Dubilier & Rice in the final stages of a hotly-fought auction for the payment processing business which initially attracted a raft of both private equity and trade players.

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