From: AltAssets
US private equity house Hellman & Friedman is in exclusive talks to sell European payments company Nets Group to Italy’s Nexi in a deal which could value the company’s equity at about $8bn.
Hellman and Nexi are hoping to wrap up a deal within the next 10 days according to a statement from Nets.
The Wall Street Journal provided the $8bn buyout figure, citing unnamed people it said were familiar with the matter.
The buyout house picked up Nets in a $5.3bn deal three years ago from Advent International, Bain Capital and Danish pension fund ATP.
Since then Nets has grown its business organically and through strategic M&A, including add-ons of Concardis Payment Group, Dotpay/eCard, P24, and PeP.
Last year Nets generated revenues of about €1bn and adjusted EBITDA of around €400m. The company provides payment cards, bank account services and payment solutions for merchants.
Copyright © 2020 FinTech Global