Hellman & Friedman takes private Danish payment processor Nets from the Copenhagen Stock Exchange.

Denmark Exit 15 February 2018
Share on FacebookShare on Twitter

Evergood 5 AS, a company formed by a group of investors led by American private equity company Hellman & Friedman, announced its final shareholder acceptance standing at 94.1% to take private the Danish payment processor Nets.

In 2017, Hellman & Friedman made a DKK 33.1bn ($5.3 billion) bid for Nets, marking what could be one of the largest European private equity takeovers in recent years.

Nets, based in Copenhagen and led by chairman Inge Hansen, was valued at DKK 30bn on its introduction to Nasdaq OMX Copenhagen in 2016, double what Advent International, Bain Capital and Danish pension fund ATP had paid for it two years before.

Nets’ largest shareholders Advent International and Bain Capital will reinvest as part of the deal, taking a combined stake of 16%. Singaporean sovereign wealth fund GIC will also own a minority stake.