INTESA SANPAOLO: STRATEGIC AGREEMENT WITH NEXI
RELATED TO ACQUIRING BUSINESS IN CROATIA
Turin, Milan 17 June 2022 – Intesa Sanpaolo announces that it has further strengthened its partnership with Nexi, an international leader in merchant acquiring, in order to expand the areas of collaboration. The latest agreement will enable the development of both partners’ activities in Croatia.
The agreement, which follows the operations that involved the sale to Nexi by Intesa Sanpaolo and UBI of their respective acquiring activities, foresees:
- the transfer to Nexi of the acquiring business of PBZ Card d.o.o., a Croatian subsidiary of the Intesa Sanpaolo Group that falls within the perimeter of the International Subsidiary Banks Division;
- the expansion of the exclusive long-term partnership related to merchant acquiring, in place as part of the previous transactions, which positions Nexi as the exclusive partner of Intesa Sanpaolo, while the latter maintains its direct customer relationships and distributes Nexi acquiring services.
The Intesa Sanpaolo Group will receive a gross consideration of €180 million for the sale of the PBZ Card d.o.o. acquiring business. Completion of the operation, expected by the end of the year, is subject to obtaining the usual authorizations from the competent authorities.
The operation allows Intesa Sanpaolo to gain enhanced value from the acquiring activity that is carried out internally today, and ensures additional focus on distribution within the International Subsidiary Banks Division.
Deloitte Financial Advisory assisted Intesa Sanpaolo as industrial advisor and for financial due diligence activities. Studio PwC TLS Avvocati e Commercialisti acted as legal, regulatory and tax advisor. Mediobanca Banca di Credito Finanziario acted as sole financial advisor.
Corporate & Investment Banking and Governance Areas
Last updated 17 June 2022 at 17:10