Annerton provides regulatory advice to smava on the acquisition of Finanzcheck
Berlin/Frankfurt a.M./Munich, February 12, 2021 – Annerton Rechtsanwaltsgesellschaft mbH has provided regulatory advice to smava GmbH, a leading platform for consumer loans in Germany, on the acquisition of 100 percent of FFG FINANZCHECK GmbH. The seller was Speedster Bidco GmbH, a company controlled by Hellmann & Friedman, which thereby becomes a minority investor in smava. The transaction is financed by existing investors of smava and Proventus Capital Partners.
The merger of smava and Finanzcheck now creates the leading platform in Germany specializing in consumer loans. Together, the two companies brokered more than €4 billion in loans between consumers and banks in 2020, with smava accounting for about 65 percent of that, according to the FinTech. The acquisition could further significantly accelerate the digitization of loans to the benefit of consumers in the market.
The acquisition was led for smava by law firm GLNS, guided by partner Georg Lindner.
For Annerton, Dr. Anna Izzo-Wagner, Alireza Siadat, Till Otto and Kemal Ahmedi were involved in the transaction. Annerton’s lead partner Dr. Anna Izzo-Wagner and her team have a long-standing relationship with smava.
Annerton is an independent law firm specialising in regulatory law in the financial industry. Since 2020, Annerton Rechtsanwaltsgesellschaft mbH in Germany and Annerton S.A. in Luxembourg have been advising established international institutions and corporations as well as innovative start-ups from the banking, financial services and digital economy sectors. Annerton has four offices in Berlin, Frankfurt am Main, Munich and Luxembourg with a total of currently 18 lawyers, a tax advisor and other team members. Information: www.annerton.com
Annerton Rechtsanwaltsgesellschaft mbH
Alireza Siadat, M.J.I.
60323 Frankfurt am Main
T +49 69 204 368 -963