Travers Smith LLP has advised Nets on arrangements relating to its senior management as a result of the combination of Nets with Nexi through an all-share merger.
Nets is a leading integrated Pan-European PayTech player acting in 20 countries. Nexi is the PayTech leader in Italy. The combination of Nexi and Nets creates one of the largest players in the European payments landscape. Under the terms of the transaction, Nets is valued at an enterprise value of €7.8 billion and, as a result of the all-share merger, Nets shareholders will have ownership of c39% of the Nexi and Nets combined business. The transaction is subject to regulatory approvals.
The Travers Smith team was led by Private Equity & Financial Sponsors Partner Adam Orr and Senior Counsel Alex Dixon.
Travers Smith has a long-standing relationship with Nets management having acted for the team in July 2014 when Nets was acquired by Advent International, Bain Capital and ATP. Adam Orr and Alex Dixon also advised on matters relating to management following Nets being taken private from the Copenhagen Stock Exchange in 2018 by a consortium led by Hellman and Friedman.
Freshfields Bruckhaus Deringer acted for Hellman & Friedman and Nets on the broader transaction.