trending Market Intelligence /marketintelligence/en/news-insights/trending/nIvopKG0su33GJ0_K24jjg2 content esgSubNav
In This List

Italy's Intesa Sanpaolo agrees to sell payment systems business to Nexi

Blog

The evolving world of central bank digital currencies

Blog

Insight Weekly: US stock market downturn; Chinese bank earnings; Europe's big tech bills

Blog

Expand Your Perspective Uncover Insights on Key Markets with Differentiated Data

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds


Italy's Intesa Sanpaolo agrees to sell payment systems business to Nexi

Italian bank Intesa Sanpaolo SpA agreed to sell its payment systems business to Nexi SpA for €1 billion, the bank said in a statement.

Intesa will transfer the business comprising 380,000 points of sale, or retail outlets, to a Nexi unit and in return receive shares in the subsidiary.

It will then sell those shares to Nexi and use some of the cash consideration to acquire a 9.9% stake in Nexi from Mercury UK Holdco Ltd. for €653 million.

The transaction is expected to complete in 2020, subject to customary and regulatory approvals. The sale is expected to result in a net capital gain of roughly €900 million in the 2020 consolidated income statement of Intesa.

Nexi said in a separate statement the transaction would generate an increase in group EBITDA of about €95 million and a high teens increase in cash earnings per share starting from 2020.