Vitale assisted Banca Popolare di Puglia e Basilicata in signing a strategic agreement in the merchant acquiring business with Nexi

17 October 2024 - Banca Popolare di Puglia e Basilicata (‘BPPB’ or the ‘Bank’) and Nexi S.p.A (‘Nexi’ and together with its subsidiaries, the ‘Nexi Group’), signed an agreement involving the Bank's merchant acquiring business leading to a long-term strategic partnership aimed at the promotion and distribution of all related products and services of the Nexi Group through the Bank's commercial network. The merchant acquiring business of the Bank involves approximately 7,000 merchants and 8,500 POS (point of sales) that generated transactions worth approximately EUR 500 million in 2023.

The agreement will allow BPPB to offer to its clients all the innovative products and services in the merchant acquiring business developed by Nexi, the leading Italian player in the digital payments sector and a leading operator in Europe. The transaction is subject to certain preparatory activities and to obtaining the necessary authorisations from the relevant authorities, and therefore the closing is scheduled to take place within the first half of 2025. Upon completion of the closing, the Bank expects a positive impact of 85 basis points in terms of Tier1, estimated on the basis of Risk Weighted Assets as of 30 June 2024.
 
Vitale acted as financial advisor to BPPB.

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