Kirkland & Ellis advises FNZ Group on the acquisition of European Bank for Financial Services GmbH (ebase) from comdirect bank AG. The transaction is still subject to the approval by the banking supervisory and antitrust authorities.
ebase is a wholly owned subsidiary of comdirect bank AG since 2009 and provides financial services with a focus on B2B direct banking. Based in Aschheim near Munich, ebase employs 265 staff and manages client assets of around EUR 31 billion.
FNZ Group is a London based financial technology company which provides state-of-the-art platform solutions across multiple distribution channels. Originally founded in New Zealand in 2004, the company's clients include leading financial institutions.
With the takeover of ebase, FNZ intends to expand its platform solutions in the B2B investment business and to strengthen its position in the German market.
Kirkland & Ellis advised FNZ with the following team:
Gavin Gordon (London), Bernhard Guthy (both lead Corporate/M&A), Oded Schein (Tax, both Munich), Stephen Lucas, Ben A. Myers (both Finance, London); Associates: Sebastian Häfele, Christoph Jerger, Thomas Krawitz, Cristan Gerhold (all Munich), Tom McCarthy, Giles Clifford, Ashley Eisenberg (all London)
On behalf of FNZ were also involved:
Lindemann Schwennicke & Partner (Berlin): Daniel Radig (Regulatory). Schweibert Lessmann & Partner (Frankfurt/M): Rüdiger Hopfe (Employment). Preu Bohlig & Partner (Munich): Christian Breuer, Andreas Haberl (both IP / Data Protection)