Royal Bank of Scotland Group Plc, the U.K.’s biggest government-owned bank, agreed to sell its credit-card payment processing unit to Advent International Corp. and Bain Capital LLC for 1.7 billion pounds ($2.7 billion).
RBS may receive a further 200 million pounds if the buyers’ returns hit certain targets, the Edinburgh-based bank said in a statement today. RBS will keep a 20 percent stake. It will also book a gain from the sale of about 850 million pounds after goodwill, separation and transaction costs, the bank said.
