Nexi, SIA near deal to create Italian payments powerhouse - sources - Reuters News
16-Sep-2020 15:36:19
By Pamela Barbaglia, Elisa Anzolin and Valentina Za
LONDON/MILAN, Sept 16 (Reuters) - Italian payment firm Nexi NEXII.MI and smaller rival SIA are working flat out to resolve final differences over governance as they aim to seal a merger deal in the coming weeks, sources familiar with the matter told Reuters.
The two companies have reached a broad accord on valuation and Nexi's boss Paolo Bertoluzzo will lead the combined entity as its chief executive, three sources said.
The deal could be announced by the end of September, after the companies failed to reach an agreement earlier this month due to prolonged discussions over the corporate governance structure of the merged entity, two of the sources said.
Nexi and SIA declined to comment.