LONDON (Alliance News) - Royal Bank of Scotland Group PLC and Barclays PLC on Thursday both said they have agreed to sell their stakes in payments platform operator VocaLink Holdings Ltd to US credit card giant MasterCard Inc.
On Thursday, MasterCard said it has agreed to acquire a 92.4% stake in VocaLink, a payments platform operator, for GBP700.0 million.
RBS said it expects to make a GBP150.0 million pretax gain from the sale of its 21.4% stake in VocaLink. RBS will get its share of the consideration from MasterCard in cash, plus a contingent deferred payout in 2019 subject to VocaLink's performance.
Barclays, meanwhile, will sell the majority of its 15.2% stake in the business for GBP104.0 million. It will retain a 1.5% stake in VocaLink after the sale.
RBS shares were down 0.3% to 194.20 pence, Barclays shares were up 1.0% to 152.41p.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Barclays (BARC)