Aduno Holding sells cashgate to Cembra Money Bank
1 July 2019 – Aduno Holding AG has signed an agreement with Cembra Money Bank AG providing for the sale of 100% of the shares in cashgate AG, which bundles the consumer financing business of the Aduno Group. Through its acquisition of cashgate, Cembra Money Bank will also be taking on the employees of cashgate AG and will fully repay the existing debt of the cashgate business. Closing of the transaction is subject to the customary conditions and should be completed in the third quarter of 2019. The purchase price is CHF 277 million.
Walder Wyss advised Aduno Group as legal advisor in this transaction. The team was led by Urs P. Gnos (Partner, M&A) and included Markus Pfenninger (Partner, Regulatory / M&A), David Vasella (Partner, IPIT), Lukas Wyss (Partner, Finance), Thomas Müller (Partner, Finance), Reto Jacobs (Partner, Competition), Thomas Meister, (Partner, Tax), Oliver M. Kunz (Partner, Litigation), Nico Bernhard (Associate, M&A), Andrea Haefeli (Associate, M&A), Angela Kummer (Associate, M&A), Daniel Zimmerli (Counsel, Competition), Christian Eichenberger (Counsel, Real Estate), Rafal Szala (Associate, Finance) and Christoph Stutz (Counsel, Employment).