Nets was acquired by Nexi in a 7.8 billion euros deal.

Denmark Italy M&A 15 November 2020
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Nexi SpA, a Milan, Italy-based payments processor, announced that it acquired the private equity-owned rival Nets A/S, based in Copenhagen, Denmark.

The transaction was an all-share deal that values Nets at €7.8 billion ($9.2 billion), including €1.8 billion of debt.

Nets shareholders will control 39% of the combined entity.

The transaction's rationale is creating the Europe’s biggest payments firm by volume in a quickly consolidating industry. The joint company will be Europe’s biggest payment business by volume, number of customers and earnings before interest, tax, depreciation and amortization. Netherlands based Adyen NA is the continent’s biggest payments company by market value.

Nets was owned by Hellman & Friedman, which delisted it from Nasdaq OMX Copenhagen in 2018 in a deal that included contributions from the largest shareholders Advent International and Bain Capital.