Koutalidis Law Firm advised Nexi S.p.A on its agreement with Alpha Bank SA for the establishment of a strategic long-term partnership for Alpha Bank’s merchant acquiring business unit in Greece (the “MA Business”).
The transaction includes the carve-out by Alpha Bank of its MA Business to a newly incorporated entity, the acquisition of 51% of such entity by Nexi, and the execution of a long-term marketing and distribution agreement for the distribution of payment acceptance products to Alpha Bank’s business customers.
The agreed Enterprise Value (EV) has been set at Euro 307 million (for 100% of the MA Business), including also a contingent earn-out consideration of up to Euro 60 million (for 100% of the EV of the MA Business).
Completion of the Transaction is subject to the satisfaction of certain conditions precedent including the obtainment of regulatory licenses and approvals.
