Worldline picks BNP Paribas to sell India payments unit: report

French payments firm Worldline has roped in BNP Paribas to assist the company with the sale of its India operations, Mint reported, citing people in the know.

The company is planning its restructuring strategy to refocus global operations and improve financial performance, following which it has decided to sell the India operations, according to the business daily.

The potential transaction, which remains in the early stages, is reportedly expected to be valued at over $200 million.

“The sale is expected to happen through an auction process among a wide buyer pool, including strategic players in the payments space in India,” a person familiar with the matter told Mint.

Domestic companies such as Razorpay and PayU are seen as likely candidates that could benefit from acquiring the business to expand their business, the report added.

Worldline’s India unit offers B2B payment services to banks and large enterprises and has a presence in multiple cities including Mumbai, Hyderabad, Bengaluru, and New Delhi.

The business is one of several under review as part of Worldline’s global repositioning.

Founded in 1970, Worldline operates globally across markets including Europe, Japan, the US, and India.

In February, the company initiated a turnaround strategy to streamline operations, reduce costs, and improve free cash flow.