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Bain Capital, Advent acquire Danish payments processor Nets for over $3bn

24 Mar 2014

Danish Denmark flagPrivate equity firms Bain Capital and Advent International and Danish pension fund ATP have agreed to buy payment processing group Nets for DKK17bn ($3.14bn).

Last year the Copenhagen-based company handled more than 6bn card transactions supporting more than 33 million payment cards and over 500,000 merchants in the Nordic region.

last week it was reported that Bain and Advent were in exclusive negotiations to acquire Nets.

The firms beat three other suitors in the final round of the auction, according to a Reuters report.

Nets chairman Peter Lybecker said, “Today’s announcement has been preceded by an extensive review of Nets’ strategic alternatives. The outcome of this review was that Nets needs a new owner with the expertise, commitment and financial resources to develop the business in a rapidly changing payments industry.

“The overriding focus for the Board of Directors of Nets has been to select the best owner out of many interested parties with a clear understanding of the role Nets plays in society, including the importance of developing Nets’ unique sector solutions such as Dankort and BankAxept and the need for safeguarding data.”

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