Worldline: CVC interested in Nexi
(CercleFinance.com) - The stock rose over 3% yesterday evening at the end of trading following rumors of a potential takeover of Nexi.
Meanwhile, the target, Nexi shares jumped 13% yesterday in Milan, with Bloomberg saying that CVC is interested in buying Nexi: several PE funds could be involved in the deal.
Nexi currently has a market cap of E7.55bn, with a 2023e ND of E5.09bn (2.9x EBITDA), and is trading at the following multiples: 2023-24-25e EV/EBITDA of 7.3x-6.1x-4.9x. These multiples are pretty much in line with those of Worldline (9.2x-7.2x-5.6x), reflecting a violent derating of the sector over the past 18 to 24 months, Invest Securities commented this morning.
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Meanwhile, the target, Nexi shares jumped 13% yesterday in Milan, with Bloomberg saying that CVC is interested in buying Nexi: several PE funds could be involved in the deal.
Nexi currently has a market cap of E7.55bn, with a 2023e ND of E5.09bn (2.9x EBITDA), and is trading at the following multiples: 2023-24-25e EV/EBITDA of 7.3x-6.1x-4.9x. These multiples are pretty much in line with those of Worldline (9.2x-7.2x-5.6x), reflecting a violent derating of the sector over the past 18 to 24 months, Invest Securities commented this morning.
Copyright (c) 2023 CercleFinance.com. All rights reserved.