Nexi to Buy Nets in a $9 Billion Deal to Create Payment Giant
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Italian payments processor Nexi SpA agreed to buy private equity-owned rival Nets A/S creating one of Europe’s biggest payment providers.
The all-share deal values Copenhagen-based Nets at 7.8 billion euros ($9.2 billion), including 1.8 billion euros of debt, the companies said in a joint statement Sunday.
Nets shareholders to receive 406.6 million newly issued Nexi shares, resulting in a pro-forma ownership of 39% in the combined entity.
The two firms wrapped up weeks of talks with a deal that will generate about 170 million euros of synergies per year. The transaction is supported by key shareholders of Nexi and Nets, which will remain invested in the combined group.
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— With assistance by Maria Ermakova
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