Nexi Receives $1.16bn Bid from TPG for Digital Banking Solutions Unit

TPG has submitted a binding offer of approximately €1bn ($1.16bn) for Nexi's digital banking solutions division. The bid comes after several months of negotiations and follows earlier discussions with a preliminary bid of around €800m ($925m) in March. Nexi's board has until mid-December to determine whether to proceed with the transaction. The payments sector faces increased pressure on profit margins, with Nexi's market value declining by around 75% over the past four years.