Significant value creation opportunities for Nexi shareholders, with run-rate recurring cash synergies estimated at c.€170 million p.a., in addition to c.€150 million p.a. estimated for the SIA merger. The RWP on Nexi reflects its announced merger with SIA S.p.A. (SIA), its main competitor in Italy. When the SIA purchase is complete, Nets’ stake in Nexi … The acquisition is estimated to be 15-20% Cash EPS Accretive at anticipated full run-rate synergies. Italy’s Nexi NEXI 3.14% SpA agreed late Sunday to amass crosstown fintech rival SIA SpA for about €4.6 billion, equal to virtually $5.Four billion, in a inventory deal that creates a European big within the fast-consolidating funds sector. The acquisition will be entirely funded through a share exchange that will see SIA's shareholders receiving a 30% stake in Nexi's enlarged share capital, with existing shareholders retaining the other 70%. Nexi-SIA will be a leader in Europe, handling payments for roughly 2 million merchants, managing 120 million cards and processing more than 21 billion transactions a year. 20221 Cash EPS accretion >25% expected for Nexi shareholders, assuming closing of both Nets and SIA … Nexi Chief Executive Officer Paolo Bertoluzzo has rapidly expanded the company through acquisitions, announcing his pursuit of Nets just days after agreeing to the milestone acquisition of Italy’s SIA SpA for 4.6 billion euros. •Strategic combination of Nexi and Nets structured as an all-share cross-border merger on the basis of equivalent 2020 EBITDA multiples with Nets’ shareholders receiving 407m new Nexi shares •Based on Nexi share price as of 13 November, Nets’ Enterprise Value … Nexi is a tremendous success story, evolving from a traditional interbank utility to become a modern and vast fintech champion in Italy. The deal—that can lead to an organization with an estimated mixed market capitalization of round €15 billion—marks the top of monthslong negotiations. The acquisition of SIA would solidify Nexi’s market leadership position and infrastructure in Italy as well as fueling an international expansion ambition supported by SIA’s strong position in pan-European instant payments. CEO Paolo Bertoluzzo told analysts Nexi expected to conclude the Nets deal in the second quarter and the SIA merger in the third, creating a major European player next to France’s Worldline, itself fresh from the acquisition of Ingenico. https://www.crunchbase.com/acquisition/nexi-ac43-acquires-sia--a70b3fa1 Italian payments providers Nexi and Sia are set to finalise a €15bn merger that will create one of Europe’s largest fintech groups, according to three people involved in the negotiations. The joint company Nexi-SIA enters into italian’s top 10 publicly traded businesses, valued at 15 billions € The 2 italian paytech companies Nexi and SIA have merged and the new organization will become one of the 10 largest traded companies in Italy, with annual revenue of 1,8 billion €, a market value of more than 15 billion € and over a 70% market share in Italy. The European Commission (EC) has granted an unconditional authorization for the $9.28 billion ( €7.8 billion) acquisition of Denmark’s Nets by Italy’s Nexi.
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