Jun
21

Bain and Other Private Equity Firms to Buy Italian Payments Company

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LONDON — A consortium of private equity firms that includes Bain Capital agreed on Friday to acquire the Italian payment and clearing services company Istituto Centrale delle Banche Popolari Italiane for 2.15 billion euros, or about $2.4 billion.

A group of cooperative banks in Italy, including Credito Valtellinese, put the firm up for sale as they faced pressure from regulators to increase their capital and entered into exclusive talks with the private equity firms in May.

The consortium includes Bain, Advent International and the Italian private equity firm Clessidra.

“We are delighted to have the opportunity to contribute to the future success of this market leader in Italy,” Luca Bassi, a managing director at Bain Capital Europe, said in a news release…

Bain and Other Private Equity Firms to Buy Italian Payments Company

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