Bech-Bruun advises Nets on purchase of Finland’s Luottokunta
On 10 August 2012, Nets Holding A/S executed an agreement to purchase its Finnish counterpart, Luttokunta. Following the acquisition, Nets will be the predominant actor on the Danish, Norwegian and Finnish card payment service provider market.
The acquisition is in line with Nets’ strategy to become one of the largest actors in the European market.
Bech-Bruun acted as lead counsel on the acquisition, with assistance from Roschier law firm in Helsinki. Our team was manned by M&A Corporate partner Søren Meisling, an expert in M&A, private equity and venture capital, as well as M&A associate, Peter Riis Jensen and junior associate Camilla Fabech Larsen. In addition, financing partner Morten Krogsgaard and senior associate Anne Kaas Hammer assisted with respect to regulatory matters.
The matter, which has been ongoing since October 2011, proved to be a strongly competitive process. It is expected that closing will take place before the end of the year.
Nets Holding A/S is particularly satisfied that the acquisition has fallen into place. Nets’ CEO, Mette Kamsvåg, comments
"The acquisition of Luottokunta brings Nets vital additional competencies that will strengthen our position not only in the Finnish market but also in Europe as a whole. The acquisition will make us an even stronger partner for our Nordic customers in supporting their business both nationally and internationally. We need this strength to be able to accompany our customers on their journey into new markets."
See the press release concerning the acquisition at nets.eu