A five-strong shortlist of bidders, which includes surprise package Moneris, has emerged for the Royal Bank of Scotland's WorldPay payment processing business, according to Reuters.
Citing sources, the wire says the competition is now between Canadian card payment processor Moneris Solutions and four private equity bids - from CVC, TPG, Warburg Pincus and a joint effort by Advent International and Bain Capital.
Due diligence is now scheduled to take between six and eight weeks before binding offers are submitted. A deal could then be struck for the $2.5 billion-rated unit by June or July, says Reuters.
Last week Voice Commerce CEO and WorldPay founder Nick Ogden admitted defeat in his efforts to buy the business back. He expressed concern over a possible private equity firm acquisition, fearing it would see the unit split up.
Five bidders on RBS WorldPay shortlist: sources - Reuters