Blackstone, Hellman & Friedman may jointly bid for Worldpay
Buyout firms Blackstone and Hellman & Friedman are reportedly poised to make a joint bid for British payments processing company Worldpay.
The bid could value Worldpay at £6bn and is expected to be tabled within weeks, Sky News reported.
The report added that a Singaporean sovereign wealth fund could also team up with Blackstone and Hellman & Friedman in a joint bid.
Advent International and Bain Capital, current owners of Worldpay, are preparing the company for a London stock market listing which is likely to propel the firm into the FTSE 100.
To lead the listing of the company, they recently hired Barclays’ deputy chairman Michael Rake as new chairman of Worldpay.
Sources told Sky News that Hellman & Friedman was working “furiously” to come up with an offer that would persuade Advent International and Bain Capital to opt for a deal rather than a flotation.
Apart from Blackstone and Hellman & Friedman, many other private equity firms are also looking to acquire Worldpay despite the listing plans.
An IPO is still the most likely course of action for Worldpay, an undisclosed source familiar with the matter told Reuters.