Ingenico Group, a French payments-processing company, has joined the race to buy Worldpay Ltd. ahead of a planned initial public offering by the U.K. rival, according to a person familiar with the matter.
Ingenico has submitted an offer that would value Worldpay, which is owned by buyout firms Advent International Corp. and Bain Capital, at more than 6 billion pounds ($9.2 billion), said the person, who asked not to be identified because talks are private. Ingenico dropped 9.2 percent to 109.85 euros at 1 p.m. in Paris, giving the company a market value of 6.7 billion euros ($7.6 billion).
The bid would put Ingenico in competition with Germany’s Wirecard AG. A team of private-equity firms Blackstone Group and Hellman & Friedman are also interested, people familiar with the matter said earlier this week.
A decision on a winning bidder could come next month, the people said. Advent and Bain may also choose to proceed with an IPO, they said. Sky News reported Ingenico’s bid on Friday.
Representatives for Ingenico, Worldpay, Advent and Bain declined to comment.
London-based Worldpay, which last month named Barclays Plc Deputy Chairman Michael Rake as its next chairman, has approached banks about refinancing its debt before the potential IPO, people with knowledge of the matter have said.
Founded in 1980, Ingenico competes with companies including Worldline SA, Vantiv Inc. and Global Payments Inc. It bought Amsterdam-based GlobalCollect in an 820 million-euro deal last year.
Advent and Bain Capital bought Worldpay from Royal Bank of Scotland Plc in 2010 for 1.7 billion pounds. The company, which processes in-store, mobile and online payment transactions, reported Ebitda of 375 million pounds last year, on revenue of 3.6 billion pounds, according to its website.