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Nexi Buys Nets in $9.2 Billion Deal to Create Payment Giant

  • Italian company’s expansion extended to cover Nordic region
  • Nexi CFO sees potential for further growth by acquisitions
Bloomberg business news
WATCH: CEO Paolo Bertoluzzo discusses Nexi’s agreement to buy private equity-owned rival Nets.Source: Bloomberg
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Italian payments processor Nexi SpA agreed to buy private equity-owned rival Nets A/S, creating the Europe’s biggest payments firm by volume in a quickly consolidating industry.

The all-share deal values Copenhagen-based Nets at 7.8 billion euros ($9.2 billion), including 1.8 billion euros of debt, the companies said in a joint statement Sunday. Nets shareholders will receive 406.6 million new Nexi shares, initially resulting in 39% of the combined entity.