Ashurst and Sullivan take roles with A&O and Skadden on Vantiv's £9.3bn Worldpay acquisition


Ashurst and Sullivan & Cromwell are advising alongside Allen & Overy (A&O) and Skadden Arps Slate Meagher & Flom on the £9.3bn sale of UK payment processor Worldpay to US rival Vantiv.

Ashurst is acting for Morgan Stanley and Credit Suisse International on the deal, which was confirmed yesterday (9 August) after an initial agreement was reached last month.

Morgan Stanley and Credit Suisse are providing financial advice to Vantiv and Bidco – a newly incorporated UK subsidiary of Vantiv.

The Ashurst team is being led by banking partners Mark Vickers and Tim Rennie, and corporate partner Karen Davies. Ashurst also advised the arranging banks when RBS sold Worldpay to Advent International and Bain Capital in 2010.

Sullivan is advising Fifth Third Bank on a share transaction to facilitate the deal, fielding a team including London corporate partner Ben Perry and New York corporate partners Alexandra Korry and Mitchell Eitel.

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

Skadden is acting for Vantiv with a team led by New York based M&A partners Peter Atkins and David Ingles and London M&A partner Scott Hopkins.

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