MILAN (Reuters) -Italy's Nexi has received an offer from U.S. private equity fund TPG for several assets in its digital banking solutions business, the payments group said on Friday. The board will
Nexi Receives $1 Billion Offer from TPG for Digital Banking Assets
MILAN (Reuters) -Italy's Nexi has received an offer from U.S. private equity fund TPG for several assets in its digital banking solutions business, the payments group said on Friday.
The board will look at the offer, Nexi said in a statement, reacting to a report by Bloomberg about the TPG approach.
Shares in Milan-listed Nexi rose as much 5% to 5.31 euros on Friday following the report, which said the offer, valid until mid-December, was worth 1 billion euros and targeted the digital banking solutions unit.
The stock had plunged to its record low on Thursday.
In its statement Nexi, whose second-largest investor is Italian state lender CDP with a 19.4% stake, did not include the value of the bid and said the offer was subject to some conditions.
Nexi had been in talks to sell the business unit to Italian infrastructure fund F2i for 700-800 million euros in 2023 but parties were unable to find an accord, two sources familiar with the matter previously said.
(Reporting by Francesca Landini and Elvira Pollina, editing by Gavin Jones and Louise Heavens)
