Advent, Bain, ATP Put Up $3B For Danish Payment Service

Law360, New York (March 24, 2014, 12:00 PM EDT) -- Boston private equity firms Advent International Corp. and Bain Capital LLC and Danish pension fund ATP on Monday agreed to acquire Copenhagen-based, payment-processing service Nets from a group of Scandinavian banks for 17 billion Danish kroner ($3.14 billion).

Nets, currently owned by 186 bank shareholders, said it wants a more streamlined management model to compete in a consolidating, increasingly regulated industry. The company settled on Advent and Bain, firms with history of investing in Scandinavia and other market segments relevant to Nets, rounded out by a...
To view the full article, register now.