Cerha Hempel has advised payment and transaction services provider Worldline and its Luxembourg-based subsidiary, Six Payment Services, on the contribution of its merchant services business in Austria to PayOne, a joint venture of the Ingenico Group and Deutscher Sparkassen. Linklaters reportedly advised Worldline in Germany and Luxembourg and Hogan Lovells reportedly advised Deutsche Sparkassen and PayOne.
According to Cerha Hempel, Worldline’s contribution of its business to PayOne came after its successful tender offer for Ingenico Group’s shares and convertible bonds, which closed on October 28, 2020. According to the firm, “following the take-over of Ingenico by Worldline, the German and Austrian business of Worldline (carried out by Six Payment Services and PaySquare) were transferred to PayOne.”
The Ingenico Group is a Paris-based provider of payment services, with over 8,000 employees around the world. Deutscher Sparkassen is a German association of savings banks that operate over 18,000 branches and employ more than 300,000 people.
Cerha Hempel’s team included Partners Benjamin Twardosz, Lorenz Pracht, and Harald Stingl, Senior Associates Andrea Harrich, Christopher Peitsch, and Bernhard Oreschnik, and Associates Julia Digruber and Lukas Krenn.