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    BARC   GB0031348658

BARCLAYS PLC

(BARC)
  Report
Delayed London Stock Exchange  -  11:35 2022-12-08 am EST
156.80 GBX   -0.41%
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Sabadell in talks with Worldline, Nexi and Fiserv for payments deal -sources

09/21/2022 | 05:19pm EST
FILE PHOTO: The Banco Sabadell logo can be seen behind leaves on top of a building outside Madrid, Spain

By Pamela Barbaglia, Jesús Aguado and Andres Gonzalez

LONDON/MADRID (Reuters) - Spanish bank Sabadell has received indicative bids from France's Worldline, Italy's Nexi and U.S. firm Fiserv for its payments arm, with a deal valued at up to 400 million euros ($393.64 million), three sources said. Sabadell received the non-binding offers last week and is expected to shortlist a group of final bidders in early October, the sources said, speaking on condition of anonymity.

The Spanish lender will review the offers at a board meeting in late September and then move to the final stages of the auction, allowing bidders to carry out due diligence on the unit, the sources said. Sabadell, Worldline, Nexi and Fiserv declined to comment.

The sale, which is being handled by Barclays, has only addressed industry players including U.S. giant PayPal and rival firms Fidelity National Information Services Inc (FIS) and Network International, while private equity funds were not invited to bid, two of the sources said.

PayPal, FIS and Network International were not immediately available for comment.

In Spain, Sabadell has a strong presence on the payments front and accounts for close to 16.3% of the country's overall revenue generated at the point of sale (POS).

Its payments arm, which is mainly focused on consumer lending, has core earnings of about 25-30 million euros, one of the sources said.

The business reported sales of 21.6 billion euros in the first half of 2022 and is a source of stable and profitable income for the bank as payments transactions tend to carry a higher interest than mortgages.

The sale is expected to be finalized in December and will result in the winner striking a long-term partnership with Sabadell, which will retain an exclusive right to commercialize loans or financial transactions.

($1 = 1.0162 euros)

(Reporting by Pamela Barbaglia, Jesus Aguado and Andres Gonzalez; additional reporting by Valentina Za, Julien Ponthus and David French; editing by Deepa Babington)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BANCO DE SABADELL, S.A. -0.40% 0.8564 Delayed Quote.45.29%
BARCLAYS PLC -0.41% 156.8 Delayed Quote.-15.81%
FIDELITY NATIONAL INFORMATION SERVICES, INC. 1.50% 69.79 Delayed Quote.-36.12%
FISERV, INC. 0.97% 101.46 Delayed Quote.-3.31%
NETWORK INTERNATIONAL HOLDINGS PLC -1.90% 320 Delayed Quote.11.64%
NEXI S.P.A 0.23% 7.82 Delayed Quote.-44.23%
PAYPAL HOLDINGS, INC. -0.27% 74.22 Delayed Quote.-60.54%
WORLDLINE 1.40% 42.7 Real-time Quote.-14.08%
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Analyst Recommendations on BARCLAYS PLC
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Financials
Sales 2022 25 115 M 30 696 M 30 696 M
Net income 2022 4 988 M 6 096 M 6 096 M
Net Debt 2022 - - -
P/E ratio 2022 5,31x
Yield 2022 4,59%
Capitalization 24 873 M 30 400 M 30 400 M
Capi. / Sales 2022 0,99x
Capi. / Sales 2023 0,95x
Nbr of Employees 81 600
Free-Float 99,7%
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Technical analysis trends BARCLAYS PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 156,80 GBX
Average target price 233,64 GBX
Spread / Average Target 49,0%
EPS Revisions
Managers and Directors
C. S. Venkatakrishnan Group Chief Executive Officer & Director
Angela Anna Cross Group Finance Director & Executive Director
Nigel Paul Higgins Group Chairman
Mark Ashton Rigby Group Chief Operating Officer
Laura Padovani Global Head-Compliance Services
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