The Italian giant of digital payments, the largest in Europe, worth over 15 billion euros. We are talking about the new subject that will arise from merger between Nexi and Sia, which boast some of the best resources and skills in the field of technology and digital innovation at an international level. The majority shareholder will be Cassa Depositi e Prestiti.
Nexi-Sia, how the merger works
The merger between Nexi and Sia should take place by incorporation of Sia into Nexi on the basis of an exchange ratio for which the shareholders of the group controlled by Cdp will receive 1.5761 Nexi shares for each SIA share, and the current SIA shareholders will receive a about 30% of the capital of the new group, while the current Nexi shareholders will keep about 70%.
While Europe is preparing for the digital euro, the future Italian number one digital transitions group will benefit from revenues of 1.8 billion, an Ebitda of one billion and Operating Cash Flow of 0.8 billion. However, the new group also inherits 3 billion in debts, most of which date back to when Mercury had acquired the former Cartasì company.
Mercury will have a total stake of 23%, while the first shareholder will be Cassa Depositi e Prestiti with 25%, who had invested in SIA as early as 2014; Intesa Sanpaolo will take 7%. Over 40% of the capital would be free float on the market, characterizing the company as a public company.
Nexi-Sia, what we can pay with the new paytech
The new group ranks among the top ten largest stocks listed on the stock exchange in Piazza Affari, settling just behind big names like Enel, Intesa Sanpaolo, FCA, Eni and Unicredit. It will in effect be one new Italian paytech able to cover the entire digital payment value chain and serve all market segments.
With the new operator you can have them issuing and managing cards of any type, mobile payment app, solutions for digital payments B2B, open banking, e-commerce, solutions for the local public transport, interbank networks, digital payment acceptance services for large and small merchants, more sophisticated solutions for omnichannel, and clearing and trading services for the main Italian and international institutions.
Gualtieri satisfied
Leading the group will be Paolo Bortoluzzo, current CEO of the listed group. Thanks to Cdp’s entry into the shareholding structure as anchor investor, the new paytech will be able to continue on its growth path as a large Italian public company and contribute even more decisively, together with its partner banks, to the acceleration of the spread of payments digital in Italy and the digitization and modernization of our country, for the benefit of citizens, businesses and the Public Administration, explained Bortoluzzo.
Also very satisfied Minister of Economy Roberto Gualtieri, which expresses “strong appreciation” for the Sia-Nexi merger, which fielded “a great European champion of digital payments, Italian, which will be able to play a leadership role in this strategic market, but also compete with its industrial strength to our project for the digitization of payments, innovation of the PA, modernization of the country “.
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