Report: European Processor Nets Hires JPMorgan For Sale

Nets, Europe’s second-largest card payment processor, has hired JPMorgan to sell its business for €1-2 billion, according to Reuters.

Nets handles 33 million payments cards every year and saw net profits of €91.5 million in 2012.

Reuters claims that card payments services are attractive for private equity firms because they “offer steady cash flows and are not affected by economic cycles.” Advent and Bain are listed as two possible suitors.

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