Hellman & Friedman DKr33.1 billion acquisition of Nets

Overview:

• US equity house Hellman & Friedman - through a newly formed company controlled by funds managed and advised the company called Evergood 5 - has made a recommended all-cash offer to acquire Scandinavian payment processor Nets from current owners Advent International, Bain Capital and ATP.
• Nets is a digital payments company that connects banks, businesses and consumers via an international network.
• The offer is priced at DKr165 per share of the company, making the total value approximately DKr33.1 billion.
• As part of the deal, Advent and Bain will reinvest in the group, taking a 16% stake. They will be joined by other minority shareholders including GIC Private - through Eiffel Investment, Sampo, the StepStone Group and Fisher Lynch Capital.
• Nets was advised on the deal by JPMorgan and Nordea.
• The offer was made just a year after the company completed its IPO on the Nasdaq Copenhagen stock exchange.

Jon Moore - Journalist