LOSCHELDER advises The Payments Group on the sale of majority stakes to the listed SGT German Private Equity GmbH & Co. KGaA
LOSCHELDER advises the shareholders of the international The Payments Group on the sale of majority stakes to the listed SGT German Private Equity GmbH & Co. KGaA.
LOSCHELDER has successfully advised the shareholders of The Payments Group, based in Germany (Berlin), Malta and the Isle of Man, on the sale of majority stakes in the group companies Funanga AG, Berlin, Campamocha Holding Ltd., Malta, and Surfer Rosa Ltd., Isle of Man, to the listed SGT German Private Equity GmbH & Co. KGaA. A team from Renzenbrink & Partner supported LOSCHELDER with regard to tax matters.
The Payments Group unites international fintech companies specialising in the development of tailor-made payment and financial technology solutions. As the operator of the “CashtoCode platform”, it also enables cash payments for online purchases at more than 550,000 retail locations worldwide.
Following the completion of the transaction, SGT German Private Equity GmbH & Co. KGaA and The Payments Group will operate under the name “The Payments Group Holding” and offer a broad portfolio of online payment services, including embedded financial services solutions, prepaid technologies and global payment and payout systems.
The acquisition of the majority stakes is financed firstly by a cash component of EUR 9.15 million and secondly by issuing 24.8 million shares in SGT German Private Equity GmbH & Co. KGaA at a fixed price of EUR 2.40 per share.
SGT German Private Equity GmbH & Co. KGaA is a listed investment company based in Frankfurt am Main. As a German venture capital provider (formerly operating under the name German Startups Group), it holds a broad portfolio of minority stakes in numerous German tech startups.
The LOSCHELDER team: Dr Felix Ebbinghaus, Dr Sebastian Kalb, Dr Tim Leverentz, Thomas Mäuser (all M&A/corporate law)
Tax advice: Marc Kotyrba, Dr Toufic Schilling (Renzenbrink & Partner)
