By Pietro Lombardi 
 

French fintech company Worldline has reached an agreement to buy 80% of BNP Paribas SA's Italian payments business Axepta Italy, in a deal that gives the unit an enterprise value of 220 million euros ($260.9 million)

The deal will give Worldline the opportunity to expand in the attractive Italian payments market, where growth opportunities are significant given the big role cash still plays.

The French company said Thursday that it expects to pay around EUR180 million for the stake, with Italian bank BNL--part of BNP Paribas--keeping a 20% stake in Axepta.

Worldline expects the deal to add annual revenue of about EUR50 million once completed.

 

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

 

(END) Dow Jones Newswires

July 01, 2021 02:24 ET (06:24 GMT)

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