November 28, 2024 07:40 GMT
TECHNOLOGY: Italian Media Reports On Interest In Nexi’s Interbank Network
TECHNOLOGY
NEXIIM Ba1/BB+[P]/BB+
Seems to be a sub-component of the DBS division which was previously speculated on as an acquisition target though the last reporting on this was around a year ago. No deal size given.
- Corriere della Serra reports that Italian state lender CDP (14.5% owner of Nexi) is considering the acquisition of Nexi's National Interbank Network (RNI), seen as strategic financial infrastructure for interbank connectivity. RNI is a component of the network services unit of the Digital Banking Solutions division which also provides ATM management, clearing and digital corporate banking.
- Nexi was reported to have been in talks with F2i on the sale of the Digital Banking Solutions division for EUR 800mn this time last year but did not reach an agreement. In 2023 the division generated EUR 383mn in operating revenue and EUR 151mn in EBITDA compared to group figures of EUR 3.3bn and EUR 1.7bn. Group net financial debt was EUR 5.2bn as of 9M24 with 2.8x EBITDA leverage.
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