European Bank for Financial Services’ Acquisition of Augsburger Aktienbank

Jones Day advised European Bank for Financial Services GmbH (ebase), while Luther Rechtsanwaltsgesellschaft mbH advised Augsburger Aktienbank on the deal.

The European Bank for Financial Services GmbH (ebase) have agreed to acquire the entire securities business of Augsburger Aktienbank AG, subject to the necessary approvals. The purchase agreement was signed on 30th of June and the transaction is expected to be completed by the middle of next year. Financial terms of the transaction are not being disclosed.

Ebase is one of the leading B2B banks in Germany with around 300 employees, over 280 cooperation partners, including insurance companies, asset managers and independent financial investment brokers, and more than 1 million customers. They have been part of the FNZ Group since 2019, when they were acquired by the global platform as a service firm.

The acquisition will see approximately 180,000 securities accounts and around €17 billion in assets under administration (AuA) migrated in mid-2021. Upon completion of the migration, ebase will have more than €50 billion in assets under administration.

Jones day team was led by Dr. Martin Kock (Picture).

Luther team was led by Dr Andreas Kloyer (Picture) and included Stephan Gittermann, Dr Thomas Kuhnle (Partner), Martin Zackor, Michael Ströbel, Dr Stefanie Hellmich, Hans-Christian Ackermann, Achim Braner, Dr Rolf Kobabe and Dr. Helmut Janssen.

Involved fees earner: Martin Kock – Jones Day; Hans-Christian Ackermann – Luther Rechtsanwaltsgesellschaft mbH; Achim Braner – Luther Rechtsanwaltsgesellschaft mbH; Stephan Gittermann – Luther Rechtsanwaltsgesellschaft mbH; Stefanie Hellmich – Luther Rechtsanwaltsgesellschaft mbH; Helmut Janssen – Luther Rechtsanwaltsgesellschaft mbH; Andreas Kloyer – Luther Rechtsanwaltsgesellschaft mbH; Rolf Kobabe – Luther Rechtsanwaltsgesellschaft mbH; Thomas Kuhnle – Luther Rechtsanwaltsgesellschaft mbH; Michael Ströbel – Luther Rechtsanwaltsgesellschaft mbH; Martin Zackor – Luther Rechtsanwaltsgesellschaft mbH;

Law Firms: Jones Day; Luther Rechtsanwaltsgesellschaft mbH;

Clients: Augsburger Aktienbank AG; European Bank for Financial Services GmbH;