US private equity firm TPG has submitted a €1bn offer to acquire several assets from Milan-based Nexi’s digital banking solutions business, the Italian payments group confirmed on Friday, according to a report by Reuters.
The report cites Nexi as saying in a statement that its board is reviewing the proposal, which remains subject to conditions and is valid until mid-December. Shares in the business surged by as much as 5% on the news, recovering from a record low the previous day.
The deal would mark a significant step in TPG’s expansion into European financial infrastructure, as private equity firms continue to target digital payments and banking technology amid industry consolidation.
Nexi, whose second-largest shareholder is Italian state lender CDP with a 19.4% stake, has previously explored selling the same unit. Talks with Italian infrastructure fund F2i in 2023 reportedly valued the business between €700m and €800m, but no agreement was reached.
