Aquiline explores sale of global payment provider

October 24, 2013

By Greg Roumeliotis and Jessica Toonkel

NEW YORK, Oct 24 (Reuters) - Private equity firm Aquiline Holdings LLC is exploring a sale of Clear2Pay, a Belgian financial services electronic payments company it invested in four years ago, according to two people familiar with the situation.

New York-based Aquiline has not yet hired a bank to oversee the sale which could fetch around 400 million euros ($552 million), said one of the sources, who wished to remain anonymous because they are not permitted to speak to the media.

Aquiline was not immediately available for comment.

Aquiline invested in Brussels-based Clear2Pay in December 2009. The company, which facilitates payments for banks and financial institutions, has an array of global financial services clients including ING Groep, Banco Santander and Bank of New York Mellon Corp, according to its website.

Possible bidders for Clear2Pay could include technology companies with significant business from banks, like Oracle Corp or SAP AG, or financial services oriented technology providers like Fiserv, the source said.

Oracle, SAP and Fiserv declined to comment.