The Spanish creditor will consider bids at a board meeting at the end of September and then move on to the final stages of the auction, allowing bidders to do a due diligence on the unit, it said. the sources. Sabadell, Worldline, Nexi and Fiserv declined to comment.
The sale, which is managed by Barclays, was only directed at industry players, including US giant PayPal and rivals Fidelity National Information Services Inc (FIS) and Network International, while investment funds private parties were not asked to bid, two of the sources said.
PayPal, FIS and Network International were not immediately available for comment.
In Spain, Sabadell has a strong presence on the payments front and accounts for nearly 16.3% of the country’s overall point-of-sale (POS) revenue.
Its payments arm, which is mainly focused on consumer loans, has core revenues of around 25-30 million euros, one of the sources said.
This activity recorded a turnover of 21.6 billion euros in the first half of 2022 and constitutes a stable and profitable source of income for the bank, since payment transactions tend to carry a higher interest than mortgages. .
The sale is expected to be finalized in December and the winner will enter into a long-term partnership with Sabadell, which will retain exclusive rights to market loans or financial transactions.
($1 = 1.0162 euros)