TPG has submitted a binding offer of approximately €1bn ($1.16bn) for Nexi’s digital banking solutions division. Nexi’s board has until mid-December to decide on the proposal. This offer comes after discussions that began with an €800m bid in March. Nexi, facing pressure on profit margins, recently partnered with Visa and Mastercard for money transfer services. TPG’s bid follows Nexi’s exploration of a deal with F2i last year. Negotiations with TPG faced resistance from shareholders. Nexi, based in Milan, has seen a 75% decline in market value over four years.

Read more at Yahoo Finance: TPG makes $1.16bn bid for Nexi’s digital banking solutions unit