News August 05 , 2021

Koutalidis Law Firm advised Nexi in the signing of a MOU with Alpha Bank

Koutalidis Law Firm advised Nexi in the signing of a Memorandum of Understanding with Alpha Bank in relation to establishing a strategic and long-term partnership in the payments acceptance space in Greece.

The transaction includes the spin-off of Alpha Bank’s merchant acquiring business into a new entity (NewCo) and the acquisition by Nexi of a 51% stake in NewCo for a €157m cash consideration (reflecting EV of €307m for 100% of Alpha Bank’s merchant acquiring business), as well as the entering into a long term distribution agreement between the two parties, providing NewCo with access to Alpha Bank’s network in order to distribute payment acceptance products and services to business customers of Alpha Bank in Greece.

For more details, please refer to Nexi’s full press release.