The owners of Portuguese payments provider SIBS are considering a potential sale or capital increase and have hired Deutsche Bank to explore its options, the company said.
The company hired Deutsche Bank in June to start a strategic review and wants to take a decision on how to bring in a new investor by the end of September.
The business, which is owned by several Portuguese banks and runs the country's single ATM network Multibanco, could be worth between 400 million euros ($480 million) and 500 million euros, adding that private equity funds have expressed interest in the Lisbon-based company.
SIBS more than doubled its profit to 45 million euros in 2016, while its revenue rose slightly to 167 million euros from 161 million euros.
In 2016, SIBS took another step in joint innovation with Beta-i by presenting the SIBS PayForward product, which is the first to be produced in the field of financial services related to payment in Portugal, as an innovation accelerator for FinTechs.
SIBS is based in Lisbon and owns several British banks and operates the country's only ATM network Multibanco. In Portugal, SIBS is the first bank that operates the payment system for a period of 30 years, such as banks, the Central Bank, is the central service scheme of paying services. At present, SIBS offers more than 100 interoperable services and more than 30 services on POS networks in ATM networks, which makes it unique on a global level.