News
Freshfields advises Nets on the €2.85bn sale of its Corporate Services business to Mastercard
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised payment services provider Nets, majority owned by Hellman & Friedman, on the disposal of the majority of its Corporate Services businesses to Mastercard for €2.85bn (approximately US $3.19bn).
Nets is a leading European payments technology (PayTech) company servicing hundreds of financial institutions, businesses and merchants across the European market.
This is a highly strategic transaction for both parties, providing Mastercard with technology and teams to complement its existing account-to-account capabilities, whilst allowing Nets to focus on strong and scalable businesses within merchant services. The transaction is expected to close in the first quarter of 2020, pending regulatory approvals.
Tim Wilmot, Partner, Freshfields said: “This deal comes less than two years after H&F led the original public-to-private transaction for Nets, which was one of the biggest of its kind at the time. It is the latest in a series of deals that we have done which showcase our outstanding fintech credentials and our ability to do complex global work.”
The Freshfields team was led by partners Tim Wilmot, Keir MacLennan, Andrew Craig, Jill Gatehouse, Cyrus Pocha and Thomas Lübbig.
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Notes to Editors:
About Freshfields Bruckhaus Deringer LLP
Freshfields Bruckhaus Deringer LLP is a global law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on groundbreaking and business-critical mandates. Our 2,800-plus lawyers deliver results worldwide through our own offices and alongside leading local firms. Our commitment, local and multinational expertise, and business know-how means our clients rely on us when it matters most.