MILAN (Reuters) – The top investor in Nexi has sold 8.8% of the Italian payments group, cutting its holding in a move seen by investors as easing the way for a long-awaited potential merger with rival SIA.
FILE PHOTO: The logo of Italian payments group Nexi is pictured inside their headquarters in Milan, Italy, March 28, 2019. REUTERS/Alessandro Garofalo
Nexi CEO Paolo Bertoluzzo said this month talks with SIA to create an Italian payments giant continued. Sources have told Reuters negotiations will soon focus on key valuation issues.
Mercury UK, a vehicle of private equity firms Advent, Bain Capital and Clessidra, said on Wednesday it had cut its stake in Nexi to 43.3% after selling 55 million shares for 781 million euros.
A banker close to the sale said demand from more than 100 investors, mostly British and U.S., had totalled 2.8 billion euros, with the top 20 buyers accounting for around three quarters of the order book.
Through Nexi investors can bet on Italy’s…
Source Reuters Tech News
Source link
