Publicly traded Danish payments processor Nets on Monday received a 33.1 billion Danish crown ($5.3 billion) takeover bid from U.S. private equity firm Hellman & Friedman.
If the bid is accepted, the transaction will mark one of the largest PE takeovers in Europe in recent years, according to Reuters.
For the offer to be accepted, it requires the vote of shareholders representing 90% of Nets’ capital.
Nets said it was approached by potential buyers (both strategic and PE) in June. This comes only a year after the company was taken public by its PE backers: Advent International, Bain Capital and Danish pension fund ATP.
If Nets accepts a takeover offer, both Bain and Advent will maintain a 16% stake in the company.
Nets shares, trading under the symbol NETS.CO, are up 6.4% Monday morning. It has a market capitalization of 30.5 billion Crowns.