21 April 2015

Advent and Bain in talks to buy Nordic payments firm Nets - Reuters

18 March 2014  |  4608 views  |  1 credit card

Advent International and Bain Capital are in exclusive talks to buy Nordic payments company Nets for more than EUR2 billion, according to Reuters.

The private equity firms teamed up with Danish state-owned pension fund ATP to win an auction, beating out three rival bidders - Permira in partnership with Canada Pension Plan, Atos, and a consortium led by Nordic Capital - says Reuters, citing sources.

Nets is privately owned by shareholders, with many of Scandinavia's biggest banks holding significant stakes. The group was established through a merger in 2009 of Denmark's PBS Holding and Norway's Nordito and now employs 2800 people in five countries and handles around a third of all Nordic card transactions.

The acquisition would be the second time that Advent and Bain have teamed up to buy a major European payment processor. In 2010 the firms paid £2 billion for an 80% stake in WorldPay, which the Royal Bank of Scotland was forced to sell under EU bail-out conditions.

Nets, Advent and Bain have not commented on the Reuters report.

Comments: (1)

A Finextra member | 18 March, 2014, 14:45

If it's true and the deal comes off, it'll be great news. WorldPay had been starved of investment by RBS and have since made consderable headway since acquired by Advent and Bain in 2009.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

14 August, 2012
01 December, 2010
09 September, 2010
06 August, 2010
16 March, 2007

Related company news


Top topics

Most viewed Most shared
BBVA buys UX firm Spring Studio
7207 views comments | 34 tweets | 17 linkedin
UK banks covering up cybercrime losses - C...
7201 views 14 comments | 26 tweets | 14 linkedin
PayPal exec wants to replace passwords wit...
5742 views comments | 38 tweets | 16 linkedin
World Bank reports big drop in numbers of...
5386 views 10 comments | 37 tweets | 16 linkedin
Digital and core renewal to drive bank IT...
5273 views comments | 33 tweets | 28 linkedin

Featured job

Find your next job