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Exclusive: Bain , Advent cancel sale of WorldPay's U.S. unit

WorldPay's private equity owners, Bain Capital LLC and Advent International Corp, have canceled the auction of the payment processing firm's U.S. unit, WorldPay told Reuters on Friday.Several people familiar with the matter said the sale was aimed at raising as much as $1 billion.The buyout firms bought four-fifths of WorldPay from Royal Bank of Scotland Group Plc in 2010 for about 2 billion pounds ($3 billion) and were looking to sell WorldPay's U.S. assets to pay themselves a dividend as well as repay debt.No potential buyer was willing to meet Bain's and Advent's price expectations of $800 million to $1 billion, the sources familiar with the matter said this week. Thomas H. Lee Partners LP, CVC Capital Partners Ltd and Thoma Bravo LLC were among the private equity firms in discussions with WorldPay about a deal, the sources said."Following a strategic review of WorldPay U.S., we have concluded that the growth potential and value of the business will be maximized by remaining part of...

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  5. MARKET SNAPSHOT: U.S. Stocks Little Changed Near Record Highs

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    In one of the largest leveraged buyouts of the year, a group of private-equity firms unveiled on Monday a $6.9 billion takeover of IT management solutions company BM...

  11. Exclusive: Bain , Golden Gate nearing deal to buy BMC - sources

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  1. Cerberus Looking at Grocery Chains for Potential Bids

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