he deal values Sisal Group at 1 billion euros (USD 1.11B), including debt.
Sisal, which also provides payment services, is currently owned by Apax Partners, Permira and Clessidra. In 2014 the three private equity funds sought a share listing for the Milan-based group but pulled the sale, blaming unfavorable market conditions.
Sisal had revenues of 787 million euros in 2015, down 4% from the previous year, and a net loss of 40 million euros. Payment services accounted for just over one fifth of overall sales. Net debt at the end of December stood at 966 million euros.