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HEUKING advises SGT German Private Equity on acquiring three internet payment service providers

A cross-office team led by HEUKING Partners Dr. Thorsten Kuthe and Dr. Kai Erhardt legally advised SGT German Private Equity GmbH & Co. KGaA on the acquisition of majority stakes in three internet payment service providers.

On August 13, 2024, the Frankfurt-based private equity manager announced the acquisition of 72.9% of Funanga AG (Berlin), 75% of Campamocha Ltd (Malta), and 75% of Surfer Rosa Ltd (Isle of Man). This acquisition marks the beginning of SGT’s transformation into a publicly traded FinTech company, which will operate under the new name “The Payments Group Holding.” The transaction remains subject to various conditions, including obtaining the necessary regulatory approvals.

The acquisition will be financed with EUR 9.15 million in cash and the issuance of 24.8 million treasury shares, with a set price of EUR 2.40 per share.

SGT German Private Equity GmbH & Co. KGaA, a publicly listed investment company headquartered in Frankfurt am Main, has a legacy as a leading German venture capital provider under its former name, German Startups Group. The company retains a heritage portfolio of minority stakes in several promising German tech startups.

Counsel to SGT German Private Equity GmbH & Co. KGaA

HEUKING:

Dr. Thorsten Kuthe (Capital Markets/M&A, Lead), Cologne,

Dr. Kai Erhardt (M&A, Co-Lead), Hamburg,

Dr. Christoph Gringel, Frankfurt,

Dr. André Hofmann, LL.M. (Banking Supervisory Law), Frankfurt,

Dr. Frederik Wiemer (Antitrust), Hamburg,

Dr. Hans Markus Wulf (IP/IT), Hamburg,

Marcel Maybaum (IP/IT), Düsseldorf,

Stefan Westerheide, LL.M. oec (Corporate/M&A), Cologne,

Michèle von Lewinski (Banking Supervisory Law), Frankfurt,

Nathalie Hemmerling (Corporate/M&A), Hamburg,

Tatiana Vorotnitskaya, k.i.n. (Capital Markets), Cologne