Nordic, TryghedsGruppen join forces to bid up to €2bn for Nets


atm-11-cash-credit_sqPrivate equity firm Nordic Capital and Denmark’s TryghedsGruppen have reportedly teamed up to bid up to €2bn for European card payment services business Nets.

Two other groups are also working on bids according to Reuters, which cited a spokeswoman from TryghedsGruppen.

AltAssets reported in the summer that Nets had hired JP Morgan to help sell the business, putting private equity firms Advent International and Bain Capital on alert.

Bain and Advent bought an 80 per cent interest in peer WorldPay from Royal Bank of Scotland for £2bn nets in 2010.

Nets, Europe’s number two card payments processor, currently handles about 33 million payment cards every year, and had 2012 revenues of about €800m and profits of about €91.5m.

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