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Nexi and Nets in talks for USD 10 bln merger

Monday 2 November 2020 13:57 CET | News

Italy-based payments group Nexi has announced exclusive talks to agree a merger with Denmark-based rival Nets, in a potential deal worth nearly USD 10 billion, according to Reuters.

The deal follows an accord with smaller Italy-based peer SIA. A merger would allow Nexi to gain access to more advanced digital payment countries such as the Nordics where Nets has a forefront position, while also obtaining exposure to Central and Eastern Europe where the industry has still room to grow.

Reportedly, the exclusive talks to get to a binding agreement would last 10 days. A deal would see Nets merged into Nexi in an all-share transaction that would use the same multiples for both groups on expected 2020 core earnings. Apparently, synergies from the merger were estimated at around EUR 150 million.


Source: Link


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Keywords: Nexi, Nets, merger, Italy, Denmark, SIA, digital payments, payments , Europe
Categories: Banking & Fintech
Companies:
Countries: Europe
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Banking & Fintech






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