Nets, a Danish payments processing company, is rumoured to be near a private equity buy-out that would value the company at more than $5 billion.N
Nets, a Danish payments processing company, is rumoured to be near a private equity buy-out that would value the company at more than $5 billion.
Nets connects banks, businesses, the public sector, merchants and consumers via an international network facilitating digital payments. Headquartered in Copenhagen, Denmark, the company spreads across the Nordic region, mainly in Denmark, Norway, Finland and Swedan, with presence in Estonia and plans to expand in other Baltic countries, as the company explained on their website.
Nets chief executive Bo Nilsson said earlier that Nets is enjoying “considerable interest” from potential buyers from other payment processing companies and private equity groups, as finextra.com wrote in a recent publication.
The Nets board reportedly arranged a meeting last week to decide on a buyer following an auction that has drawn an interest of the market. US company Hellman & Friedman is said to be taking a leading position, as finextra.com wrote in their report, while quoting the Financial Times.
If the deal is completed on the reported terms and Nets` shares are valued at $5.01 billion, it would be the largest European buy-out in more than four years. According to finextra.com, the deal will surpass the recent acquisition of German pharma company Stada that was bought for $4.1 billion.
Recently, the payment processing space reportedly witnessed US-based Vantiv`s acquisition of UK-based Worldpay for $10.35 billion. The deal was finalised in August, as finextrta.com reported.
In 2014, Nets was purchased by a consorium of private equity companies and then listed in Denmark in 2016. Rumours of a buy-out in the last three months have helped to increase Nets share price by 16% in such a short period, as finextra.com noted in their article.