Payment giant Nexi in talks to buy Nets Group

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.

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