Intesa Sanpaolo: strategic agreement with Nexi relating to the acquisition of activities in Croatia
INTESA SANPAOLO: STRATEGIC AGREEMENT WITH NEXI
RELATED TO THE ACQUISITION OF COMPANIES IN CROATIA
Turin, Milan June 17, 2022 – Intesa Sanpaolo announces that it has further strengthened its partnership with Nexi, an international leader in merchant acquiring, in order to broaden the areas of collaboration. The latest agreement will allow the development of the activities of both partners in Croatia.
The agreement, which follows transactions that involved the sale to Nexi by Intesa Sanpaolo and UBI of their respective acquisition businesses, provides:
- the sale to Nexi of the acquisition activity of PBZ Card doo, a Croatian subsidiary of the Intesa Sanpaolo group which falls within the scope of the International Subsidiary Banks Division;
- the expansion of the exclusive long-term partnership linked to the acquisition of merchants, in place in the context of the previous transactions, which positions Nexi as the exclusive partner of Intesa Sanpaolo, while the latter maintains its direct relations with its customers and distributes the services of acquisition of Nexi.
Intesa Sanpaolo Group will receive gross consideration of €180 million for the sale of the PBZ Card doo acquisition business. Completion of the transaction, expected by the end of the year, is subject to obtaining the usual authorizations from the competent authorities.
The transaction allows Intesa Sanpaolo to derive greater value from the acquisition activity that is conducted internally today, and provides an additional focus on distribution within the International Subsidiary Banks Division.
Deloitte Financial Advisory assisted Intesa Sanpaolo as industry 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.
Intesa San Paolo
Intesa Sanpaolo is the leading Italian banking group – serving families, businesses and the real economy – with a significant international presence. Intesa Sanpaolo’s distinctive business model makes it a European leader in wealth management, protection and advisory, with a strong focus on digital and fintech. An efficient and resilient bank, it benefits from its 100%-owned product factories in asset management and insurance. The Group’s strong ESG commitment includes the granting of 115 billion euros in impact loans by 2025 to communities and for the green transition, and 500 million euros in contributions to support the most deprived,
position Intesa Sanpaolo as a global leader in terms of social impact. Intesa Sanpaolo has committed to reaching Net Zero by 2030 for its own emissions and by 2050 for its loan and investment portfolios. A committed patron of Italian culture, Intesa Sanpaolo has created its own network of museums, the Italy Galleryplace of reception of the artistic heritage of the bank and place of prestigious cultural projects.
International Subsidiary Banks Division
Intesa Sanpaolo benefits from a widespread international presence through the banks of the International Subsidiary Banks division, which manages 11 commercial banks, with a combined total of more than 900 branches and 7 million customers, in 12 countries in Central and East and Middle East and North. Africa. Through the Division’s banks, the Intesa Sanpaolo Group ranks first in Serbia, second in Croatia and Slovakia, fourth in Albania, fifth in Bosnia and Herzegovina, Egypt and Slovenia, and sixth in Moldova and Hungary.
Intesa San Paolo
Corporate and investment banking and areas of governance [email protected]