A consortium comprising Advent International, Bain Capital and Danish pension fund ATP have agreed to buy Nordic card payment company Nets Holding.
The consortium is offering a cash consideration of DKK17bn ($3.1bn) for 100% of the share capital of Nets Holding, corresponding to a price per share of DKK92.37.
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Nets’s shareholders will receive the dividend for 2013 totalling DKK498m, with the board of directors unanimously recommending the shareholders accept the offer.
The transaction is subject to regulatory approvals and is expected to close in the second quarter of 2014.
Peter Lybecker, chairman of Nets, said: "I am confident that we have found a highly qualified owner of Nets in the Consortium consisting of Advent International, ATP and Bain Capital, which balances strong local support and understanding with extensive global expertise in the payments sector."
JPMorgan acted as financial advisors to Nets, while UBS AG, MHS Corporate Finance and Infima advised the consortium.
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By GlobalDataIn 2013, Nets handled over 6bn transactions supporting 33m payment cards and works together with more than 260 banks in Denmark, Norway, Sweden, Finland and Estonia.
Robin Marshall, a managing director of Bain, said: "Nets is a household name across the Nordics with a strong reputation built on a foundation of trust.
"We bring a strong pool of operating resources and are committed to supporting the company’s management in accelerating the growth and maximising the potential of Nets," he added.
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Advent, Bain Capital in talks to buy Danish card payment firm
Nets to provide payment card services to Danish banks
