US private equity firm Hellman & Friedman has made a DKK33.1bn ($5.3bn) bid for Danish firm Nets, in what could be one of the biggest European takeovers in the sector of the past five years. Closing will be subject to shareholder acceptance. Existing Nets investors Bain and Advent have agreed to keep a 16% stake in the company. Reuters earlier reported that Hellman & Friedman along with Permira and Nordic Capital had all completed due diligence on Nets. Several firms, including France’s Worldline, were among the players looking to acquire Nets. The deal is expected to close by early next year, with net debt falling from €4.5bn at the end of last year to just over €4bn.
US private equity firm Hellman & Friedman has made a DKK33.1bn ($5.3bn) bid for Danish firm Nets, in what could be one of the biggest European takeovers in the sector of the past five years. Closing will be subject to shareholder acceptance. Existing Nets investors Bain and Advent have agreed to keep a 16% stake in the company. Several firms, including France’s Worldline, were among the players looking to acquire Nets. The deal is expected to close by early next year, with net debt falling from €4.5bn at the end of last year to just over €4bn.