Intesa Sanpaolo comes out from nexi and is preparing to collect around 600 million euros. Carlo Messina, the CEO of the first Italian bank, yesterday gave the mandate to sell Intesa Sanpaolo's stake in Nexi on the market, which is equivalent to 5,1% of the capital of the digital payments company led by Paolo Bertoluzzo. The MY BAG the bank's stock immediately rewarded, gaining 1,2% yesterday, while sales penalized Nexi, which lost 1,89%.
INTESA SANPAOLO'S SHARE IN NEXI: THREE POSSIBLE BUYERS
The share of Nexi put up for sale by Intesa is highly coveted and, according to what the newspaper Mf Milano Finanza reports today, there are at least three possible buyers in an operation that could have lightning times, namely the hedge fund Marshall Wace, Norges Bank e ubs. Joint bookrunners of the placement are Bofa and JP Morgan.
At current stock market prices, Intesa Sanpaolo's stake in Nexi is worth 640 million but usually, in quick placement transactions, buyers can hope to obtain a 10% discount. In any case, the capital gain that Messina is preparing to collect is around 600 million euros.
THE COMMERCIAL AGREEMENTS REMAIN BETWEEN INTESA AND NEXI
However, Intesa Sanpaolo's exit from Nexi's capital will not cancel the commercial agreements that have existed between the two groups since 2019 and which will certainly remain in existence.
In the next few hours, the operation could already be concluded and it will be interesting to see how the Stock Exchange will react today after yesterday's first reactions in Piazza Affari.
