Nets’ largest shareholders, Advent and Bain, have agreed to re-invest into the deal, and will emerge with a 16% minority stake. Moreover, GIC, Singapore’s sovereign wealth fund, will also have a minority stake alongside other minority co-investors. Upon completion of the deal, Hellman & Friedman intends to delist Nets from Nasdaq Copenhagen. It will aim to further develop Nets as a private company in the best interest of the business, its customers and employees.A deal is expected to be completed in Q1 2008.
The transaction represents not only the largest European leveraged buyout since March 2013, but also the latest deal in an increasingly hot payments sector for buyout funds, according to Financial Times.
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