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Bain Capital, Advent expected to buy Concardis for EUR 700 mln

Tuesday 10 January 2017 | 09:31 AM CET

Bain Capital and Advent, private equity firms, are expected to buy Concardis, a German payment group, for about EUR 700 million euros.

Concardis offers card payment terminals as well as payment technology for ecommerce groups and is viewed as a non-core business by its key owners, reuters.com reports.

With a 16% stake, Deutsche Bank is the group's largest shareholder, while smaller stakes are held by Commerzbank, Unicredit as well as savings and cooperative banks.

Concardis is hoping a new owner will invest in new technologies and an expansion of its business. In 2016, Concardis posted core earnings of EUR 33.9 million on sales of EUR 480 million.

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