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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Enel S.p.A.    ENEL   IT0003128367

ENEL S.P.A.

(ENEL)
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Enel S p A : X forges an agreement with MEG for the acquisition of CityPoste Payment and strengthens its presence in the payment services market

12/03/2020 | 07:15am EST

ENEL X FORGES AN AGREEMENT WITH MEG FOR THE ACQUISITION OF CITYPOSTE PAYMENT AND STRENGTHENS ITS PRESENCE IN THE PAYMENT SERVICES MARKET

  • Thanks to this operation, Enel X increases contact channels with its customers and gains access to the network of approximately 850 CPP sales points throughout Italy
  • The acquisition will enable Enel X to manage up to 20 million transactions a year, from bills to various payments to public administrations through the pagoPA hub

Rome, December 3rd, 2020 - Enel X has sealed a deal with Mail Express Group (MEG) to acquire - subject to authorization from Banca d'Italia - a 100% stake in the share capital of CityPoste Payment (CPP), Italian fintech company that offers consumers broad access to payment services, on both physical and digital channels, and enables them to make numerous types of transactions in favour of private entities and public administrations.

With this agreement, Enel X will be able to count on a network of about 850 physical CPP sales points all over Italy, joining the approximately 6,000 served by Paytipper, thus increasing new customer acquisition methods and promotional channels for its products and services.

The partnership will enable Enel X to manage up to 20 million transactions a year, from bills to various payments to public administrations through the pagoPA hub.

"With the purchase of CPP, Enel X strengthens its presence in the country, offering a payment service that complements Enel X Pay's full digital service," said Francesco Venturini, CEO of Enel X. "A choice that responds to multi-channel logic, to more effectively meet the needs of a vast group of customers, from young and older generations."

"Mail Express Group is a financial and real estate group holding company operating in various commercial sectors, ranging from the postal market (the subsidiary Mail Express Poste Private was the first private Italian operator, which today boasts a significant presence on the domestic market), to publishing, logistics services, financial services, etc.," explains Bachisio Ledda, Sole Director and majority shareholder of Mail Express Group S.r.l., absolute majority shareholder of CPP. "We are very pleased about this operation. In fact, we are sure that by joining Enel Group, CPP will be better able to express its potential, making an important contribution towards the pursuit of strategic goals."

"This deal is placed within an increasingly fast and competitive economic context marked by major growth in the volume of digital payments," adds Fernando Marsilii, Chief Executive Officer of CPP, assisted by advisors of PwC. "This factor increasingly drives the search for economies of scale also through the strengthening of one's market share."

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With this acquisition, Enel X continues with its strategy to increase its presence in the world of financial services, a position already consolidated thanks to numerous strategic operations made over the past two years, including:

  • a license from Italy's Electronic Money Institution granted to the subsidiary Enel X Financial Services in December 2018, which, thanks also to agreements with technological partners Tink and Sia, made the market launch possible, in October 2020, of Enel X Pay, the Group's first Italian digital financial product;
  • the acquisition of a majority stake in the payment institute PayTipper S.p.A.

Enel X is Enel's global business line dedicated to the development of innovative products and digital solutions in the sectors where energy is showing the highest potential for transformation: cities, homes, industry, and electric mobility. The company is a global leader in the advanced energy solution sector, managing services such as demand response for more than 6 GW of total capacity at a worldwide level and 116 MW of storage capacity installed worldwide, as well as a leading player in the electric mobility sector, with around 140,000 public and private EV charging points made available around the globe. Since its creation, innovation and sustainability have been at the centre of Enel X's strategy, with the circular economy - the perfect combination of these two elements - applied to many Enel X products and services.

Cityposte Payment (CPP) is a payment institute, authorized in June 2011 by Banca d'Italia to offer payments services pursuant to points 1), 2), 3) and 5) of letter b) of art. 1, section 1 of the Italian Legislative Decree 11/10. More specifically, CPP provides payment services, both via digital channel (its own platform) and physical channel, namely its network of sales points. The services offered by CPP include the payment of bills, of passive and active MAV/RAV, PagoPA payments, the opening of payments accounts, the issue of debit cards (national and international), a range of acquiring services, etc..

Mail Express Group (MEG) is a financial and real estate group holding company operating, through its companies, in various different commercial sectors, ranging from the postal market (the subsidiary Mail Express Poste Private was the first private Italian operator, which today boasts a significant presence on the domestic market), to publishing, logistics services, financial services, etc..

Enel X

Media Relations

T +39 06 8305 5699 ufficiostampa@enel.comenelx.com

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This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Enel S.p.A. published this content on 03 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 December 2020 12:14:03 UTC


© Publicnow 2020
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Sales 2020 78 644 M 95 702 M 95 702 M
Net income 2020 4 895 M 5 957 M 5 957 M
Net Debt 2020 49 235 M 59 914 M 59 914 M
P/E ratio 2020 17,4x
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Average target price 9,46 €
Last Close Price 8,35 €
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Francesco Starace Chief Executive Officer, Director & GM
Michele Alberto Fabiano Crisostomo Chairman
Alberto de Paoli Chief Financial Officer & Head-Administration
Anna Chiara Svelto Independent Director
Cesare Calari Independent Director
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