Weil, Gotshal & Manges (Weil) is advising Bain Capital and Advent International on the EUR1.1 billion acquisition by Mercury UK Holdco Limited, the current majority shareholder of Istituto Centrale delle Banche Popolari Italiane’s (ICBPI), of Setefi Services (Setefi Processing) and Intesa Sanpaolo Card (ISP Card) from Italian bank Intesa Sanpaolo.
Setefi Processing, based in Milan, is a payment processing platform of Intesa Sanpaolo in Italy, one of Europe’s leading banking groups and Italy’s number one commercial bank. ISP Card is the payment processing platform of Intesa Sanpaolo’s CEE business and operated in nine countries including Hungary, Slovenia, Romania and Croatia. Together, these platforms support a comprehensive portfolio of products including a broad range of payment card types for Intesa Sanpaolo’s end customers.
Marco Compagnoni, co-head of Private Equity at Weil, says: “Bain and Advent have once again demonstrated their leading experience in the payment processing sector through this milestone transaction. We are delighted to have been able to work with them again on one of the largest Italian deals of the year so far.
The Weil team was led by Marco Compagnoni, working with Lewis Blakey. Antitrust advice was provided by Neil Rigby. The team also advised Bain Capital and Advent International on the acquisition of ICBPI, one of the largest Italian deals of 2015.
