Source: Sharecast
People familiar with the matter told Sky that Centerbridge was close to agreeing a deal to purchase roughly 25% to 30% of Ebury, with a transaction potentially being finalised in the coming weeks.
The stake sale was expected to value the company at between £1.3bn and £1.4bn, notably below the roughly £2bn valuation bankers had previously suggested the business could achieve in an initial public offering.
Ebury is majority-owned by Spanish banking group Banco Santander, while private equity firm Vitruvian Partners and the company’s founders also hold significant stakes.
Former Lloyd’s of London chairman Bruce Carnegie-Brown was appointed chair of Ebury about 18 months ago as the company prepared for a potential listing.
According to Sky, selling a minority stake to Centerbridge would likely delay any flotation by at least another year.
Plans for an IPO had already been pushed back after market turbulence triggered by tariffs introduced by Donald Trump last year disrupted listing conditions, while renewed volatility linked to the conflict involving Iran has made a near-term offering difficult.
Other buyout firms, including Advent International and Cinven, were also reported to have explored acquiring a stake in the payments group, Sky said.
Neither Santander, Ebury or Centerbridge had commented on the report by the close of trading on Monday.
Reporting by Josh White for Sharecast.com.