Sabadell negotiates with Worldline, Nexi and Fiserv to sell the payment business – sources

By Pamela Barbaglia, Jesus Aguado and Andres Gonzalez

LONDON/MADRIDSep 21 – The Spanish bank Sabadell has received non-binding offers from the French Worldline, the Italian Nexi and the American Fiserv for its payments division, an operation valued at up to 400 million euros (393.64 million dollars), according to three sources.

Sabadell received the non-binding offers last week and is expected to select a final group of candidates in early October, said the sources, who spoke on condition of anonymity.

The Spanish bank will review the offers at a board meeting in late September and then move to the final stages of the process, where bidders will be allowed to carry out due diligence on the unit, the sources said.

Sabadell, Worldline, Nexi and Fiserv declined to comment.

The sale, which is being managed by Barclays, has been directed only at operators in the sector, including the American giant PayPal and the competing firms Fidelity National Information Services Inc (FIS) and Network International, while venture capital funds were not invited to bid, two of the sources said.

PayPal, FIS and Network International were not immediately available for comment.

In Spain, Sabadell has a strong presence in the payment business and represents close to 16.3% of the country’s global revenue generated at the point of sale (POS).

Its payments arm, which focuses mainly on consumer loans, has a core revenue of between €25m and €30m, one of the sources said.

The business recorded sales of €21.6 billion in the first half of 2022, compared to €15.4 billion in the same period of the previous year, and is a stable and profitable source of income for the bank, as payment operations They usually have a higher interest than mortgages.

The sale is expected to take place in December and the winner will enter into a long-term partnership with Sabadell, which will retain an exclusive right to market loans or financial operations.

Leave a Comment

Your email address will not be published.