(CercleFinance.com) – The stock gained more than 3% last night at the close of the markets after the rumor about a possible takeover of Nexi. Nexi shares gained more than 13% yesterday in Milan. According to Bloomberg, CVC would be interested in a takeover of Nexi. Several PE funds could join in this operation according to the press agency.
‘ Nexi today capitalizes €7.55bn for a 2023e DN of €5.09bn (2.9x EBITDA) and displays the following valuation multiples: EV/EBITDA 2023-24-25e of 7.3x-6.1x- 4.9x. Multiples generally in line with those of Worldline (9.2x-7.2x-5.6x) which reflect a violent derating in the sector over the past 18 to 24 months,’ Invest Securities indicated this morning.
The analyst also highlights that PE funds were among the first to understand the appeal of this sector, in particular Advent and Bain Capital which had acquired Worldpay in 2010 and Nets in 2014, before exiting this sector via disposals or IPOs.
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