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Net-nets as PE nets Nets

24 March 2014 By Quentin Webb

Advent and Bain are buying Nets, a card-payments firm, from nearly 200 Nordic lenders for $3.2 bln with a dividend. The rich 12.8 times EBITDA multiple reflects private equity’s hunger for “carve-outs.” But applying sector knowhow and commercial nous could lead to decent returns.

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