Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Ingenico Group    ING   FR0000125346

INGENICO GROUP

(ING)
  Report
SummaryNewsRatingsCompanyFinancials 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

REFILE-UPDATE 1-Italy's Nexi clinches all-share merger with Nordic rival Nets

11/15/2020 | 04:06pm EST
FILE PHOTO: The logo of Italian payments group Nexi is pictured inside their headquarters in Milan

(Refiles to correct spelling error in first paragraph)

* Deal creates leading European payments firm

* All-paper merger follows 5 bln euro deal with SIA

* Italy's state lender CDP to be main investor in Nexi-Nets-SIA

MILAN, Nov 15 (Reuters) - Italy's largest payments group Nexi on Sunday struck its second tie-up deal in six weeks, agreeing a 7.8 billion euro ($9.2 billion) merger with Nordic rival Nets to create a major European player.

The payments industry has been going through a period of rapid consolidation, and Nexi and Nets' all-share deal follows a long-awaited accord the Italian firm announced in early October to buy domestic rival SIA for 4.6 billion euros in shares.

Nexi said the two transactions would create a group with pro-forma 2020 revenues of 2.9 billion euros and core profit of 1.5 billion. Annual synergies are estimated at 320 million.

The Nets acquisition gives Milan-listed Nexi access to advanced digital payments markets in northern Europe, where the Danish group has a leading presence, as well as exposure to central and eastern Europe which offers growth potential.

Under a binding accord the two companies signed at the end of an exclusivity period, shareholders in Nets will receive newly issued Nexi shares subject to a lockup mechanism of up to 24 months and will eventually own 31% of the Nexi-Nets-SIA group.

With a 17% stake, Italian state lender CDP, currently SIA's controlling shareholder, will be the single largest investor in what will be one of Europe's largest payment services provider.

Nexi said in a statement it expected to close the Nets deal in the second quarter of 2021. The SIA transaction is due to close in the third quarter.

Analysts said Nexi may face challenges in going through two major transactions in quick succession.

Nexi jumped at the opportunity which arose when U.S. group Global Payments pulled out of the race for Nets wary of making an acquisition abroad among a second coronavirus wave, a source close to the matter said.

Nets also took advantage of the fact that rival Worldline was busy with the agreed acquisition of Ingenico , the source said.

Nexi CEO Paolo Bertoluzzo will lead the new group that will remain listed in Milan.

HSBC, Centerview, BofA Securities, Goldman Sachs, Lazard, Credit Suisse, JP Morgan, Deutsche Bank, Morgan Stanley, Barclays, Mediobanca and Citi acted as advisers on the deal. (Reporting by Elisa Anzolin; editing by Valentina Za)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC 1.69% 151.32 Delayed Quote.1.45%
CREDIT SUISSE GROUP AG 0.00% 12.35 Delayed Quote.8.33%
DEUTSCHE BANK AG 0.57% 9.682 Delayed Quote.7.58%
HSBC HOLDINGS PLC -0.06% 403 Delayed Quote.6.44%
INGENICO GROUP 0.00%End-of-day quote.30.99%
LAZARD LTD -2.56% 45.61 Delayed Quote.7.83%
MORGAN STANLEY -1.61% 75.24 Delayed Quote.9.79%
NEXI S.P.A 0.56% 15.335 Delayed Quote.-6.67%
THE GOLDMAN SACHS GROUP, INC. -2.23% 301.01 Delayed Quote.14.14%
WORLDLINE 1.44% 74.5 Real-time Quote.-7.16%
All news about INGENICO GROUP
2020Italy's Nexi clinches all-share merger with Nordic rival Nets
RE
2020A Little-Known Payments Provider Grows Into One of Europe's Most Valuable Fin..
DJ
2020REFILE-UPDATE 1-Italy's Nexi clinches all-share merger with Nordic rival Nets
RE
2020INGENICO : Implementation of the squeeze out with respect to the Ingenico shares..
AQ
2020INGENICO : Implementation of the squeeze out with respect to the Ingenico shares..
GL
2020WORLDLINE : Results of the reopened offer on Ingenico
AQ
2020WORLDLINE : Results of the reopened offer on Ingenico
GL
2020WORLDLINE : Results of the reopened offer on Ingenico
GL
2020ING to appoint Ljiljana Čortan as chief risk officer
AQ
2020ING posts 3Q2020 net result of €788 million
AQ
More news
Financials
Sales 2019 3 370 M 4 070 M 4 070 M
Net income 2019 208 M 251 M 251 M
Net Debt 2019 1 477 M 1 784 M 1 784 M
P/E ratio 2019 29,4x
Yield 2019 -
Capitalization 7 916 M 9 388 M 9 561 M
EV / Sales 2018 1,74x
EV / Sales 2019 2,23x
Nbr of Employees 8 476
Free-Float 3,69%
Income Statement Evolution
Managers and Directors
NameTitle
Marc-Henri J. J. Desportes Chief Executive Officer
P. F. D. Gilles Grapinet Chairman
Michel-Alain Proch Chief Financial Officer
Paula Felstead Chief Technology Officer
Sophie Isabelle Stabile Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
INGENICO GROUP30.99%9 386
FUJIFILM HOLDINGS CORPORATION12.06%23 617
CANON INC.10.31%22 654
BROTHER INDUSTRIES, LTD.9.74%6 001
TECAN GROUP LTD.-2.49%5 685
RICOH COMPANY, LTD.8.42%5 360