A&O and Skadden advise on £9bn sale of UK payment processor Worldpay to US rival

Allen & Overy (A&O) and Skadden Arps Slate Meagher & Flom are advising on the £9bn sale of UK payment processor Worldpay to US rival Vantiv.

A&O is advising Worldpay with a team led by corporate partner Duncan Bellamy, who advised the company on its £890m initial public offering (IPO) in 2015. M&A partner Seth Jones is also advising on the sale.

Worldpay confirmed earlier this week (4 June) that it had received acquisition approaches from both Vantiv and JPMorgan Chase in the US.

Yesterday (5 June), Worldpay confirmed it had agreed a £9.1bn deal to be acquired by Vantiv, which is being advised by Skadden.

London-headquartered Worldpay launched in 1989. It processes payments online, in-store and over the phone for hundreds of thousands of merchants.

It was sold by Royal Bank of Scotland to private equity firms Bain Capital and Advent International in 2010. Bain and Advent were advised by Weil Gotshal & Manges on the investment as well as the company’s 2015 IPO.

Worldpay’s in-house legal team is led by group general counsel Ruwan De Soyza, who has held the role since January.

Other law firms Vantiv has worked with in the past include Wachtell Lipton Rosen & Katz, which advised on its $1.65bn acquisition of Mercury Payment Systems from private equity firm Silver Lake Partners in 2014.