Advent, Bain Capital, Clessidra to Buy ICBPI for €2B+
June 22, 2015
Advent International, Bain Capital and Clessidra have agreed to acquire Istituto Centrale delle Banche Popolari Italiane for a consideration of €2.15 billion. ICBPI is an Italian financial services provider that offers payment services (acquiring and issuing), interbank clearing and securities services. In 2014, the company generated revenues of €670 million, EBITDA of €195 million and net income of €95 million. ICBPI's selling shareholders will retain an 8% stake.