Intesa Sanapolo has booked a €584 million return from the sale of its 5.1% stake in payments processor Nexi.
Intesa acquired a 9.9% stake in Nexi in 2020 for €653 million as part of the sale of its merchant acquiring business to the Italian vendor.
Intesa’s holding subsequently shrunk when Nexi merged with Nets and SIA and issued new shares.
Intesa offloaded 67 million shares at a price of €8.70 per share, amid a rally in Nexi's stock following postive Q3 results.
The lender says the sale will have no impact on its current 25-year partnership with Nexi, which was recently extended beyond Italy to encompass its payments business in Croatia.