Travers Smith LLP has assisted in advising Vantiv, Inc. on its £9.3 billion merger with alternative payment platform Worldpay Group Plc.

Working alongside Skadden Arps, Slate, Meagher & Flom (the main corporate advisers on the transaction), Travers Smith advised Vantiv on the employee share schemes aspects of the transaction.

Ohio-based payment company Vantiv’s bid was formally accepted by Worldpay’s board and looks set to go through subject to shareholder and regulatory approval, creating a group with a combined value of more than £22bn.

Worldpay, set up in 1989, was part of Royal Bank of Scotland before being spun out to private equity ownership under EU state aid rules after the bank's £45bn bail-out following the financial crisis.

It was floated on the London stock market in 2015 with an initial valuation of £4.8bn and the new company formed out of the takeover - which will keep the Worldpay name - will retain a secondary listing in the capital, though its main listing will be in New York

The Travers Smith team was led by Tax Senior Counsel Elissavet Grout with support from Tax Associate Kevin Donegan.