Cassa di Risparmio di Bolzano S.p.A. e Banca di Cividale S.p.A.
- Client:Cassa di Risparmio di Bolzano S.p.A. e Banca di Cividale S.p.A.
- Transaction:
M&A - Date:December 2023
- Sector:
Financial institution
Cassa di Risparmio di Bolzano S.p.A. e Banca di Cividale S.p.A.
- DEal description:
Vitale assisted Sparkasse and Civibank in the subscription of a strategic agreement with Nexi in the merchant acquiring sector
December 29, 2023 – Cassa di Risparmio di Bolzano S.p.A. (“Sparkasse”) and its controlled entity Banca di Cividale S.p.A. (“Civibank” and, together with Sparkasse, the “Sparkasse Group”) and Nexi S.p.A. (“Nexi” and together with its controlled entities “Nexi Group”) signed an agreement for the transfer of the merchant acquiring business to Nexi Group and for the realization of a long-term agreement aimed at the promotion and placement in exclusivity of Nexi Group's merchant acquiring products and services through Sparkasse Group's commercial network.
The upfront consideration for the transaction is Euro 30,8 million, of which Euro 22,8 million for Sparkasse and Euro 8,0 million for Civibank, with a variable consideration subject to the achievement of specific targets. The transaction will enable Sparkasse Group to offer merchants and companies in the area all the innovative payment products and services developed by Nexi Group, leading Italian player in the digital payments sector and primary standing operator in Europe.
The closing is subject to the completion of certain preliminary activities and the required authorisations of the relevant authorities and it is expected in the first semester of 2024.
Vitale acted as financial advisor to Sparkasse Group.
- DEal Value:
€ 30,8m