Payment processing group will be catapulted into FTSE 100 at valuation of about £4.5bnAdvisers to Worldpay,the UK payments processing group chaired by Sir Mike Rake, bear said they had secured enough financial support for its flotation to travel ahead. The float, or which will value the group at about £4.5bn,will be the largest this year in London and will catapult the company into the FTSE 100 where it will rank close to J Sainsbury. The group, owned by private fairness firms Advent and Bain, or had hoped for a valuation as high as £5.2bn but volatile markets bear forced bankers on the deal to consider selling the group more cheaply.
Continue reading...
Source: theguardian.com