Orrick has advised the founders of German fintech firm Giroxx GmbH on the sale of the company to the U.S. financial services provider INTL FCStone.
The purchase is being conducted through London-based subsidiary INTL FCStone Ltd. and complements a series of acquisitions designed to ensure that all customers of INTL FCStone Ltd. can continue to be offered all services regardless of Brexit.
The closing of the transaction is subject to, inter alia, the approval of the German Federal Financial Supervisory Authority BaFin.
Giroxx GmbH is a FinTech based in Frankfurt am Main, which offers online payment and foreign exchange hedging services to small and medium-sized enterprises (SMEs) in Germany, Austria and Switzerland.
INTL FCStone is a Fortune 500 company that focuses on providing products and services within the commodities, securities, foreign exchange and global payment sectors. The Global Payments Division of INTL FCStone facilitates payments in more than 140 local currencies in over 175 countries.
The Orrick team was led by Fabian von Samson-Himmelstjerna (Picture) and included Timo Holzborn, Stefan Schultes-Schnitzlein, Sebastian Meul, Olexiy Oleshchuk and Christina Lorenz.
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