TPG Targets Nexi’s Digital Banking Division in €1B Deal
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TPG, a firm specializing in alternative asset management, has made a binding offer of approximately €1 billion for the digital banking solutions unit of Italy’s Nexi SpA, according to Bloomberg sources.
The informants indicated that, after months of negotiations, a binding offer has now been submitted, giving the payments firm until mid-December to decide whether to proceed with the transaction.
Nexi, which had previously attempted to divest parts of its digital banking assets, confirmed it received an offer from TPG for certain assets within the digital banking group. However, TPG declined to comment.
The two companies had already explored a potential deal earlier this year, but discussions eventually slowed. With the new offer and deadline, a decision is now expected.
Have a happy Monday, and I'll be back with more FinTech industry updates tomorrow!
Cheers,
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