Banc Sabadell has received non-binding offers from the French Worldline, the Italian Nexi and the American Fiserv for its payments division, an operation valued at up to 400 million euros, according to market sources. Sabadell received the non-binding offers last week and is expected to select a final group of candidates in early October, according to the same sources.
The bank will review the offers at a board meeting at the end of September and then move to the final stages of the process, where bidders will be allowed to carry out due diligence on the unit.
Sabadell, Worldline, Nexi and Fiserv declined to comment. The sale, which is being managed by Barclays, has been directed only at operators in the sector, including the American giant PayPal and the competing firms Fidelity National Information Services Inc (FIS) and Network International, while the venture capital funds were not. invited to bid.
PayPal, FIS and Network International were not immediately available for comment. Sabadell has a strong presence in the payments business and represents close to 16.3% of the global revenue generated in Spain at the point of sale (POS).
Its payments branch, which focuses mainly on consumer loans, has a basic income of between 25 and 30 million euros.
The sale is expected to close in December and the winner is expected to enter a long-term partnership with Sabadell.
