Viseca splits card business into issuing and service provider
28 October 2020 – Viseca Holding SA has reorganised its card business activities and divided the enterprise into an issuing company (Viseca Card Services SA) and a service company (Viseca Payment Services SA).
For this purpose, the issuing business was transferred by means of a transfer of assets and liabilities pursuant to Art. 69 et seq. of the Swiss Merger Act (FusG) to a newly established company with a simultaneous increase of the share capital of this company.
In preparation for the split, Aduno Holding SA was renamed as Viseca Holding SA. Accarda AG and Aduno Finance AG were also integrated into Viseca within the framework of two mergers and a branch office in Wangen-Brütisellen was established. By taking this steps, Viseca simplified its corporate structures and laid the foundations for the split that has now taken place.
Viseca Card Services SA is one of the largest Swiss issuers of credit cards and prepaid cards. Viseca Payment Services SA offers all kinds of customised services for cashless payments.
Walder Wyss advised Viseca on the transaction. The Walder Wyss team was led by Urs P. Gnos (Partner, Corporate/M&A) and Nico Bernhard (Associate, Corporate/M&A) and further included David Vasella (Partner, IP/IT), Reto Jacobs (Partner, Competition), Thomas Müller (Partner, Finance/Regulatory) Irène Suter-Sieber (Partner, Employment), Andrea Haefeli (Counsel, Corporate/ M&A), Riccardo Brazerol (Associate, Corporate/M&A) and Michael Kündig (Associate, Corporate/M&A).