Cedacri and Cerved are said to be running in a head-to-head race to conquer Oasi, the subsidiary of Nexi Group active in the development of IT solutions for banking compliance, MF Milano Finanza writes today, pointing out that the process managed by Mediobanca and UBS advisors seemed to have been directed to Cedacri, the company specialized in outsourcing IT services for banks, which is part of a group of small and medium-sized banks and the FSI Mid-Market Growth Equity Fund. In the last days, however, Cerved Group, already indicated last June as a potential investor, has returned heavily to the track (see here a previous post by BeBeez)
Just the increased interest in the dossier would have led to an increase in assessments. Today Oasi’s enterprise value is said to be about 160-170 million euros versus 130-150 million euro last June. Oasi closed 2017 with an ebitda of 15 millions.
Cedacri, for its part, is also said to be in pole position in auction for the information technology platform of Montepaschi, which the bank has announced it wants to spin-out into a separate company with revenues estimated at 350 million euros (see here a previous post by BeBeez).
The deal for the Nexi group, controlled by the private equity firms Advent International, Bain Capital and Clessidra sgr, is part of the ongoing corporate reorganization plan. Last February Nexi announced that the group will split in two: on the one hand, within the parent company Nexi spa, the services of securities services that require a bank license (custodian bank) and, on the other, in Mercury Payment Services (already Setefi Payment Services), payment activities and group subsidiaries focused on payments. The operation, in addition to enhancing the two Nexi businesses that have different characteristics, should accelerate the process of listing the payment division on the Stock Exchange, scheduled for 2019-2020 (see here a previous post by BeBeez).