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Worldpay to hire banks for its 6 billion pound London float - source

Reuters

(Reuters) - The backers of payment processing company Worldpay are set to hire six banks to lead the company's London stock market listing, valued at around 6 billion pounds, a source familiar with the matter said on Friday.

Advent International and Bain Capital, which bought Worldpay from Royal Bank of Scotland (RBS.L) in 2010, are close to hiring Goldman Sachs (GS.N), Morgan Stanley (MS.N) and Bank of America Merrill Lynch (BAC.N) as global coordinators for the share sale, the source said, declining to be named since the matter is private.

Sky News reported the news on Thursday, adding that the company was set to hire Barclays (BARC.L), Credit Suisse (CSGN.VX) and UBS (UBSG.VX) as bookrunners on the deal.

Worldpay has also tapped investment bank Lazard (LAZ.N) as an adviser to prepare for a flotation.

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The company will have to look out for a new chairman to substitute for current chairman John Allan, who is set to step down from his role later this year, according to the company's website.

Worldpay processes 26 million transactions daily and its half-yearly underlying revenue of 1.73 billion pounds ($2.66 billion) was up 6.1 percent in the period ended June, 2014.

Morgan Stanley and Worldpay declined to comment. Goldman Sachs, Bank of America Merrill Lynch, Barclays, UBS and Credit Suisse could not be reached immediately for a comment.

(Reporting by Rishika Sadam in Bengaluru and Freya Berry in London; Editing by Chris Reese and David Evans)