Cembra Money Bank AG’s CHF 1.6 Billion Acquisition Of cashgate AG

Clifford Chance advised Deutsche Bank-led syndicate on CHF 1.6 bn financing for the acquisition of cashgate AG from Cembra Money Bank AG, assisted by Bär & Karrer and Lenz & Staehelin.

A bank syndicate led by Deutsche Bank AG and comprising Credit Suisse (Switzerland) Ltd. as well as Zürcher Kantonalbank has acted as arrangers on the financing of the acquisition of Swiss credit and leasing services provider cashgate AG by Cembra Money Bank AG, the Swiss financial services provider.

Cembra Money Bank AG is one of the leading Swiss providers of consumer credit products and services. Its product range includes personal loans, auto leases and loans, credit cards and insurance sold with these products, as well as invoice financing, deposit and savings products.

cashgate AG specialises in personal credit and vehicle leasing, and also offers rental deposits. It is among the four largest Swiss consumer credit institutions. cashgate AG is a company of the Aduno Group, one of the leading providers of products and services for cashless payments.

The Clifford Chance team advising the syndicate on the acquisition financing comprised partner Bettina Steinhauer (Picture) as well as senior associate Adéla Hardmeyer (both Frankfurt), associate Lucinda Griffiths and trainee lawyer Sarah Boyd (both Munich, all Banking & Finance).

Niederer Kraft Frey advised the syndicate on Swiss law aspects of the financing and the team comprised partners Marco Häusermann (Banking & Finance) and Markus Kronauer (Tax) as well as junior associate Jonas Stähli (Banking & Finance).

Bär & Karrer acted as legal advisor to Cembra for the financing of the acquisition. The team included Thomas U. Reutter, Roland Truffer, Rashid Bahar, Annette Weber, Alexander von Jeinsen and Rebecca Schori (all Capital Markets) as well as Susanne Schreiber, Markus Mühlemann and Angelica Schwarz (all Tax).

Lenz & Staehelin is advising Cembra Money Bank in this transaction. The team includes Beat Kühni and Fabiano Menghini (overall / Corporate and M&A), Lukas Staub (TMT and Outsourcing), Astrid Waser and Patrick Sattler (Competition) and Robin Hauser (Regulatory).

Involved fees earner: Rashid Bahar – Bär & Karrer; Markus Mühlemann – Bär & Karrer; Thomas Reutter – Bär & Karrer; Rebecca Schori – Bär & Karrer; Susanne Schreiber – Bär & Karrer; Angelica Schwarz – Bär & Karrer; Roland Truffer – Bär & Karrer; Alexander von Jeinsen – Bär & Karrer; Annette Weber – Bär & Karrer; Lucinda Griffiths – Clifford Chance; Adéla Hardmeyer – Clifford Chance; Bettina Steinhauer – Clifford Chance; Robin Hauser – Lenz & Staehelin; Beat Kühni – Lenz & Staehelin; Fabiano Menghini – Lenz & Staehelin; Patrick Sattler – Lenz & Staehelin; Lukas Staub – Lenz & Staehelin; Astrid Waser – Lenz & Staehelin; Marco Häusermann – Niederer Kraft Frey Ltd; Markus Kronauer – Niederer Kraft Frey Ltd; Jonas Stähli – Niederer Kraft Frey Ltd;

Law Firms: Bär & Karrer; Clifford Chance; Lenz & Staehelin; Niederer Kraft Frey Ltd;

Clients: Cembra Money Bank AG; Credit Suisse; Deutsche Bank AG; Zürcher Kantonalbank;