Cassa Depositi e Prestiti tightens on nexi by virtue of the subscription of the two total return equity swap (TSR) derivatives announced last May 25th and confirms its full support for the paytech company led by Bernardo Mingrone, excluding a revision of the agreements with Nexi's other major shareholder, the American fund H&F, which owns 22,2% of the capital.
Cdp at 27,6% of Nexi with derivatives
The group led by Dario Scannapieco, as emerges from the Consob updates on significant shareholdings, has increased its aggregate shareholding in Nexi, held through Cdp Equity, to 27,64% of the capital, of which 19,638% is held in shares and 8% in the two TSRs. CDP Equity may request settlement in shares once the necessary authorizations have been obtained. This option must be exercised at least five trading days before November 25, 2026, a date that may, however, be renegotiated with the TSR counterparties.
CDP, "appreciation" for Nexi
The operation “testifies Cdp's "appreciation" for Nexi” and for “its management” and “confirms its willingness to support” the digital payments group in its growth path by promoting “a greater shareholder stability" and "supporting the long-term industrial strategy", states CDP in its declarations of intent to Consob. Consequently, CDP Equity, which has already expressed confidence in the "key role" that Nexi will be able to play "in the European development of a technological infrastructure to support the digitalization of money“, does not intend to “propose the integration or revocation” of the corporate bodies of the paytech.
Cdp also confirmed its intention to “increase” its stake in Nexi “by maximum limit of 29,9%“, so as to not be forced to launch a takeover bidCassa, which does not intend to exercise individual or joint control over the paytech company, will "remain party to the agreement" with H&F, which "currently" it does not plan to amend. The shareholders' agreement provides for the appointment of five directors each, the joint appointment of the CEO, and entrusts the selection of the chairman to the shareholder with the largest shareholding.
The rise of CDP – notes theHandle – represents a vote of confidence in Nexi despite a challenging 2025, in which the payments industry has had to contend with digital disruption, slowing transactions, and declining margins—in Nexi's case, also due to the renegotiation of major banking agreements. This slowdown was reflected in Nexi's stock price and the €586 million impairment charge CDP had to make on its stake in 2025.
CDP approves 2025 budget and dividend
Meanwhile, the shareholders' meeting of Cassa Depositi e Prestiti has approved the 2025 budget, with a net profit of 3,368 billion euros and the board of directors' proposal to distribute to shareholders a total dividend of 2,188 billion. at Foundations, which control 17,23% of Cassa's capital, are therefore entitled to approximately 377,015 million while Tesoro which holds the remaining share, is worth approximately 1,811 billion euros.
In recent months, the Foundations have slightly increased their stake after the placement of 4.451.160 treasury shares, equal to 1,30% of the share capital, for a value of approximately €400 million. The offer was initially addressed to current CDP shareholders, and was met with almost 100% participation from the banking foundations.
