Nordic payments solution provider Nets closes in on sale to Evergood 5

Nordic payments solution provider Nets has received an offer from Evergood 5 to buy the company’s entire share capital.

Evergood, which is a newly formed company by Hellman & Friedman, will offer the company DKK 165 ($26.53) per share. The final takeover offer would amount to around DKK 33.1bn ($5.3bn), according to Reuters.

Nets is a payments solution which connects banks, businesses public sectors, merchants and consumers to international digital payments. The platform offers standard and personalised end-to-end IT solutions, to provide payment cards, bank account services and payment solutions for merchants.

The company is currently present in Denmark, Norway, Finland, Sweden, Estonia and other Baltic countries.

Shareholders representing 46 per cent of the share capital in NETS have already agreed to accept the offer from Evergood 5, following the company’s board advising its stake holders to do so. In June the company had initially announced it had received approaches for acquisitions at the price of DKK 122 per share.

Nets chairman Inge Hansen said, “Hellman & Friedman approached us in June, following which we received a number of other expressions of interest and held discussions with selected parties. Having considered all options available to us, including continuing as a listed company, we are satisfied that the cash offer of DKK 165 per share to all shareholders is the most attractive alternative available”

Evergood is made up of firms including H&F Funds, GIC Private Limited and funds managed or advised by Advent International Corporation and Bain Capital Private Equity.

In the Nordic region, payments have seen the highest number of deals in FinTech, having picked up 25 per cent of all investments.

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