Point of negotiations: Customers wearing protective face masks exit a UniCredit SpA bank branch in Milan, Italy. SIA reached an accord to keep UniCredit as its main client, a key sticking point in determining its valuation. — Bloomberg
ROME: Italy’s Nexi SpA agreed to buy SIA SpA in an all-share deal that will create one of Europe’s biggest payment providers.
The transaction, which values closely held SIA at €4.56bil (US$5.3bil) will give Nexi shareholders about 70% of the joint company. The combined business will have annual revenue of about €1.8bil and a market value of more than €15bil, making it one of Italy’s top-10 listed businesses.
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