VITALE assisted FSI in the transaction related to the strategic partnership between FSI, Banco BPM and Gruppo Iccrea on Numia leading to the creation of the second player in the digital payments sector in Italy.

Milan, 1 October 2024 - Numia, Banco BPM, Gruppo BCC Iccrea and FSI announce the closing (occurred on 30 September 2024) of the transaction related to the strategic partnership announced to the market on 14 July 2023 and leading to the creation of the second player in the e-money sector in Italy. The completion of the transaction occurred following the obtainment of regulatory and legal approvals, with Numia Group (the company holding the entire capital of Numia) becoming 42.86% owned by FSI and 28.57% owned by each of Banco BPM and BCC Banca Iccrea.

As a result of the transaction, Numia can count for its development on a network that, as a whole, represents c. 20% of bank branches in Italy and, in particular, on the distribution capillarity and proximity to the territory of the more than 1,300 retail branches of Banco BPM, of the c. 2,500 branches of the 114 BCCs of the BCC Iccrea Group, as well as the distribution network of more than 200 branches of other Numia clients. 

As the second largest player in the e-money sector in Italy, Numia expresses, in Italy and on the current business perimeter, a potential market share of more than 10%, with about 8 million cards and approx. 400 thousand POS, for more than 100 billion euros of transacted business per year.

As a result of the transaction, Banco BPM received for the contributed assets an immediate fixed consideration of €500m, with an upfront cash component of more than €200m, plus potential additional deferred price components of up to €80m.

VITALE acted as financial advisor to FSI.
 

€500 million