The strategic combination will be executed as an all-share merger whereby Nets’ shareholders will receive about 406.6 million new Nexi shares, resulting in a pro-forma ownership of 39% in Nexi + Nets (or 31% when considering Nexi + Nets + SIA). MILAN (Reuters) - Italy’s Nexi and SIA agreed a long-awaited merger on Monday to create a dominant domestic payments group with 1.8 billion euros ($2 billion) in revenue and ambitions to expand in Europe. The board of directors, chaired by Michaela Castelli, will retain 13 advisors. Subject to certain conditions, the merger is set to be completed by the summer of 2021. Nexi is focused on the Italian market, whereas SIA has generated a third of its revenue overseas. In particular: Thanks to the combination of two highly complementary models, the new company, will be able to compete with a wide range of best-in-class solutions entirely developed in-house. (Credit: Marcus Qwertyus/Wikpedia.) The combination between Nexi and Nets would be carried out in the context of the quickly developing consolidation of the European and global digital payments sector, as already framed as part of the announced merger with SIA. The deal values Sia’s equity at €4.5bn including €700m of net debt, corresponding to a 13.6x of 2019 EV/EBITDA multiple including run-rate synergies which is ~€4.6bn Equity Value of SIA implied at Nexi current share price. En octobre 2020, Nexi annonce la fusion de ses activités avec SIA, une entreprise italienne concurrente, pour créant un nouvel ensemble avec un chiffre d'affaires de 1,8 milliard d'euros [3]. Nexi CEO Paolo Bertoluzzo said in an official statement that the merger will create “a large Italian PayTech company leader in Europe […] with scale and capabilities to play an increasingly leading role in Italy and at an international level in a market, like the European one, that sees strong consolidation trends.”. The Company is specialized in the payment technology field offering digital services and infrastructure to banks, individuals, businesses, institutions and the public administration. In merger negotiations, Bank of America, Mediobanca and HSBC acted as advisors for Nexi, with JPMorgan and Rothschild representing SIA. That is why Bitcoin Profit App aims to provide all traders and investors... Tether, regulated or not?Newcomers to the crypto space are quickly confronted with a popular distinction between regulated stablecoins and unregulated stablecoins. Mercury-backed Nexi to merge with SIA in a $5.3bn deal. ( Log Out / Both companies have just entered Nexi Open. As reported earlier this year, consolidation in the digital payments sector has been strengthening. In merger negotiations, Bank of America, Mediobanca and HSBC acted as advisors for Nexi, with JPMorgan and Rothschild representing SIA. Nexis private equity owners Advent, Bain Capital and Clessidra will own 23% of the newly created fintech group. The parties aim to Italian payments firms Nexi
and SIA are exchanging confidential information as they explore a possible tie-up to create an Italian powerhouse in the sector, three sources familiar with the matter said. Both Nexi and SIA are based in Milan, and talks are reported to have taken over 18 months, beset by lingering indecision over governance terms and valuations. New laws and regulations will try to promote digital payments in the Italian scenario with Nexi in pole position to help and promote the relative benefits. From a geographical perspective, the revenues are primarily from the Italian market accounting for 68% but with an increasing market position in Western and Eastern Europe accounting respectively 15% and 17%. Responsive provides banks, insurers and private managers with hybrid advisory solutions and Next Best Action. Wells Fargo Advisors headquarters in St. Louis, Missouri. In 2019, saw a rise in SIA’s revenues of €728 million, with a growth of €114 million (+15.65%). #ADA is a direct competitor to #Ethereum and even though... Did you know there is a different way to drive donor engagement and raise funds for non-profit organizations? Moreover, CDP interest in the merger reflects the Italian government’s effort to promote digital payments in the Italian market still dominated by cash transactions. Nexi-Sia-Nets: the digital payments blockbuster BSCM would like to thank FactSet for providing charts and data. Nexi shareholders will maintain a 70% holding in the combined group, in what is in effect a takeover. View today's stock price, news and analysis for Nexi S.p.A. (NEXI). In 2015 the bank was acquired by a consortium composed of Bain Capital, Advent International and Clessidra SGR. As concerning the timeline: The Signing of Merger Agreement is expected by December 2020, subject to confirmatory due diligence Closing expected by summer 2021, subject to customary closing conditions including regulatory bodies, Antitrust authorities and shareholders’ approvals. Change ), You are commenting using your Facebook account. It will become strongly competitive in terms of digital innovation, technology and efficiency, essential characteristics in order to assist the entire banking and digital payments system in Italy and in Europe. All-share transaction, with 1.5761 newly issued Nexi shares for each SIA existing share. After last month’s wedding with Sia, the group led by Paolo Bertoluzzo is hence preparing to become the number one in Europe surpassing France-based group Worldline and keeping the pace of worldwide digital payments consolidation. Mercury to sell a 13.4% stake in Nexi after SIA deal announcement. Executives at Nexi and SIA have met in the past few weeks and have asked advisors to look into potential synergies, as well as to come up with a fair valuation for the latter, insiders noted, asking not to be identified as the Change ), You are commenting using your Google account. Change ), You are commenting using your Twitter account. Milano, 11 feb. (askanews) – E’ stato firmato l’accordo definitivo per la combinazione di Nexi con Sia. Details. Che sia vicina, vista la novità francese, la fusione tra Nexi, quotata da marzo 2019 a Piazza Affari e con una capitalizzazione di circa 5,7 miliardi, e Sia, che da poco a debuttato sul listino di Milano? Private equity firms will own a total of 36%. Nets shareholders to receive 406.6 million newly issued Nexi shares, resulting in a pro-forma ownership of 39% in Nexi + Nets (or 31% when considering Nexi + Nets + SIA). In order to fill monetization deficiencies in business models, fintech firms could start to merge to exploit synergies. Nexi S.p.A.'s €500 Million Senior Unsecured Equity-Linked Notes Offering The international fintech companies Cred (Israeli) and Responsive (Canadian) have joined Nexi Open, the open banking ecosystem of Italian PayTech Nexi. ただ、ネクシのSIA買収完了後はこの比率が31％に低下。ネクシは1カ月前に国内同業のSIAを買収し、欧州の業界最大手の一角に浮上したばかりだった。 イタリアの決済プロバイダー Nexi（ネクシー）とSiaは150億ユーロの合併を It was indeed founded in 1939 under the name of Istituto Centrale delle Banche Popolari Italiane (ICBPI) from six Italian banks. The Italian government played a crucial role in the deal through Cassa Depositi e Prestiti (CDP), the government’s unit to implement public policy mandates and it is nonetheless Nexi’s largest shareholder.