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

INGENICO GROUP

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Worldline offers EU concessions over $9.2 billion Ingenico deal

09/10/2020 | 05:13am EST

French payments company Worldline has offered concessions in a bid to gain EU antitrust approval for its 7.8-billion-euro (7.07 billion pounds) acquisition of rival Ingenico, a European Commission filing showed on Thursday.

The move by Worldline, once part of Atos, could help it stave off a full-scale, four-month investigation by the EU competition enforcer.

The Commission, which did not provide details in line with its policy, extended its deadline for a decision to Sept. 30.

It is now expected to seek feedback from rivals and customers before deciding whether to accept the concessions, demand more or launch an investigation.

EU antitrust regulators typically prefer asset sales to address competition concerns.

Reuters reported on Sept. 7 that Worldline may have to resort to such a move to secure EU approval to buy Ingenico.

The sector has seen a wave of mergers and acquisitions led by U.S. rivals seeking to build up their share of digital transactions.

By Foo Yun Chee


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ATOS SE 2.09% 76.36 Real-time Quote.2.74%
INGENICO GROUP 0.00%End-of-day quote.30.99%
WORLDLINE 2.11% 78.26 Real-time Quote.23.93%
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Financials
Sales 2019 3 370 M 4 032 M 4 032 M
Net income 2019 208 M 249 M 249 M
Net Debt 2019 1 477 M 1 767 M 1 767 M
P/E ratio 2019 29,4x
Yield 2019 -
Capitalization 7 915 M 9 386 M 9 468 M
EV / Sales 2018 1,74x
EV / Sales 2019 2,23x
Nbr of Employees 8 476
Free-Float -
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Managers
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