Report
Paul Charpentier

Nexi to form a JV with Sabadell in Spain

Nexi has purchased an 80% stake in a newly-formed JV with Banco de Sbadell in Spain for EUR280m. The decently priced deal (11.5x EV/EBITDA) and the solid growth prospects of the Iberian market paired with significant synergy potential lead us to think the deal will be value-accretive. Buy rating an
Underlying
Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Paul Charpentier

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