->Intesa Sanpaolo is nexi finalized the strategic agreement, signed and disclosed to the market on December 19, 2019, regarding payment systems, which provides in particular:
- the transfer to Nexi of the IntesaSanpaolo business unit concerning the acquiring activity currently carried out for over 380,000 points of sale; IntesaSanpaolo will maintain the sales force dedicated to the acquisition of new customers;
- a long-lasting partnership, in which NEXI becomes – in the context of acquiring – the exclusive partner of IntesaSanpaolo and the latter, maintaining the relationship with its customers, distributes NEXI acquiring services.
The transfer of the business unit took place through the transfer to a subsidiary of NEXI. IntesaSanpaolo sold the shares received against the transfer to Nexi and, with part of the consideration, purchased from Mercury UK HoldCo Limited, reference partner of NEXI, shares of the latter equal to a stake in IntesaSanpaolo in the share capital NEXI of 9.9%.
The completion of the transaction translates into a capital gain of approximately € 1.1 billion after taxes in the consolidated income statement of the Intesa Sanpaolo group in the second quarter of 2020, which includes the effect attributable to the difference between the purchase price of 9.9 % of the share capital of NEXI and the corresponding value resulting from the stock exchange listing of the NEXI shares.
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