UPDATE 1-Mercury UK says to sell 8.8% in Italy’s Nexi

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FILE PHOTO: The logo of Italian payments group Nexi is pictured inside their headquarters in Milan, Italy, March 28, 2019. REUTERS/Alessandro Garofalo

MILAN (Reuters) – Private equity vehicle Mercury UK said on Tuesday it would sell 8.8% of Italian payments group Nexi (NEXII.MI) through an accelerated bookbuilding procedure.

The transaction comes as Nexi advances in talks with rival SIA over a potential merger to create an Italian champion in the fast-growing payments sector.

Mercury UK currently holds around 52.12% of Nexi, according to the company website, after a similar 7.7% stake placement in January.

Mercury UK is owned by private equity firms Bain Capital, Advent International and Clessidra.

Barclays, Goldman Sachs and HSBC are acting as joint global coordinators and joint bookrunner for the offering of Nexi shares. Rothschild is Mercury UK’s sole financial adviser.

Reporting by Claudia Cristoferi, Elisa Anzolin and Valentina Za; editing by Francesca Landini and Chizu Nomiyama

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