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The buyout group has been evaluating Nexi for some time, and payments has remained a hot space for mergers, acquisitions and spinouts, with Nexi being a major acquirer. However, the stockholder enthusiasm is somewhat overwrought as CVC is reportedly only weighing a bid, with no certainty one will be forthcoming — nor at what price.
Italian lender Cassa Depositi e Prestiti SpA, which is controlled by the country’s government, holds a roughly 13.5% stake in Nexi, which it acquired under a previous administration. In its first year in power, current Prime Minister Giorgia Meloni’s government has shown a hands-on approach to companies, seeking to retain a direct control in businesses even when they’re at the center of a deal, and favoring domestic buyers over foreign interests.
