nexi, Europe's largest payments company, may be the target of some wooing private equity interested in buy it and then proceed to delisted. This seems to be one of the reasons why the stock shines on the stock market this morning, recording a rise of even more than 7%, the best of the Ftse Mib. Initially, the stock was suspended from trading with an intraday high of 9,528 euros, then readmitted. In the middle of the session it marks a +4,69% to 9,29 euros in a session that sees the Ftse Mib index up by 0,66% before the mid-August break.
Silver lake among the various interested in Nexi
In recent months, Nexi has received several "unsolicited" offers from potential buyers, including private equity firm Silver Lake, according to Reuters. Contacts with the managing director Paolo Bertoluzzo were allegedly interrupted at the end of March due to the distance between the parties on the subject of prices.
Il Nexi stock has lost 54% in the last 12 months, in a downward trend that has also involved competitors, and at current prices the group becomes quite attractive. In Piazza Affari Nexi is capitalizing today around 12,3 billion.
Already at the end of July Nexi, which is also owned by Poste Italiane and Cassa Depositi e Prestiti, had seen a good upsurge in the wake of the'exploits of Worldline (+13,8% at 41,6 euros per share in Paris) after the accounts exceed the estimates and the confirmation of the 2022 guidance (revenues expected to increase between 8% and 10%).
Talks continue between European and North American payment companies and potential buyers
According to a report byMediobanca Studies Area, 88% of the turnover in the PayTech sector is the prerogative of 15 companies, all from the United States – Worldline is growing in Europe, while Nexi is in fourth place.
While it's unclear whether potential buyers of Nexi will knock again (Nexi and Silver Lake have not commented on the rumors) talks between European and North American payment companies and potential buyers are heating up again, bankers and industry insiders say. sector, says Reuters. The gap in price expectations it is narrowing as company executives resign themselves to the idea that shares, hit by the general decline in the technology sector following the rate hike, will not return to their previous peaks soon.
“Payment companies are basically defensive and well positioned for an inflationary environment, so if public investors don't recognize the true value of some of these names, there will be private investors who will,” he said Jeff Paduch, managing partner of Advent International. Paduch is a board member of Nexi, but declined to comment on any aspect of the Italian company's operations.
Global Payments' operation on EVO Payments may have triggered the fuse
The $4 billion deal Global Payments su EVO Payments of August 1 has led the way and could trigger a chain reaction. Fiserv and Fis they could follow Global Payments' lead and execute targeted trades, while large deals remain difficult, according to sources cited by Reuters. Instead, BTRS Holdings, listed in the United States between October 2020 and November 2021, is considering several options, including a potential sale, it told Reuters last month. Also Paya Holdings is looking to sell following its Nasdaq debut in 2020.
