Nexi to Buy Nets in a $9 Billion Deal to Create Payment Giant
In this article
Italian payments processorNexi SpA agreed to buy private equity-owned rivalNets 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.
|Nexi Near $9 Billion Nets Deal Amid Payments Sector M&A Boom|
|Nexi Is Said to Pursue Nets in New Blockbuster Payments Play|
|Nexi to Buy SIA in Stock Deal to Form European Payment Giant|
— With assistance by Maria Ermakova
Source: Read Full Article