July 6, 2016Blog Posts

Vantiv, Warburg Pursue RBC and BMO’s U.S. Payments Unit

Bloomberg:

Payments processor Vantiv Inc. and buyout firm Warburg Pincus are among suitors seeking to buy a U.S. payments business owned by Royal Bank of Canada and Bank of Montreal, according to people familiar with the matter.

Moneris U.S., a division of Canadian payments processing giant Moneris Solutions Corp., could fetch as much as $600 million in a sale, the people said, asking not to be identified as the process is private. The unit has also drawn interest from rival payments processors Cielo SA, based in Brazil, and First Data Corp., among more than a half-dozen potential bidders, the people said.

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