Equita SIM, wholly owned by Equita Group, and Nexi have signed a transfer agreement concerning the business branch relating to the exercise of the Brokerage & Primary Market and Market Making activities currently carried out by Nexi.
The Branch, characterized by a balance sheet with balanced assets and liabilities, includes among others: legal relations and 13 employees related to the exercise of the Activities; financial assets held for trading underlying the market making activity.
The consideration for the acquisition, agreed at 900 thousand euros, will be settled by Equita in cash at the closing and will be financed with its own funds. The completion of the transaction is subject to the usual contractual clauses, typical of similar sales transactions.
Through the transaction, Equita SIM will access business segments complementary to its business, thanks to the acquisition of approximately 80 retail and institutional banking customers, further consolidating its position in the equity and bond brokerage market. Furthermore, the acquisition of Nexi's Market Making activities will allow Equita SIM to increase operations in the bond segment, characterized by a limited degree of risk.
It is expected that, following the complete integration into Equita SIM starting from 2019, the transaction will contribute to the consolidated income statement of Equita Group with net revenues exceeding 5 million euro, expressing a pre-tax profitability of over 20%.
