Gleiss Lutz has advised the NYSE listed US payment services provider Shift4 on the acquisition of a majority shareholding in and a voluntary takeover offer for Vectron Systems AG as well as entering into a business combination agreement.
Shift4 has entered into a share purchase agreement for the acquisition of approximately 41.4% of Vectron's share capital with the CEO, Thomas Stümmler, and a company controlled by him. In the business combination agreement, Shift4 has undertaken to submit a purchase offer for all Vectron shares at an offer price of EUR 10.50 per Vectron share. In addition, Shift 4 has undertaken to subscribe to a capital increase from authorised capital in the amount of 10% of the current share capital.
After completion of the transaction, Shift4 will endeavour to delist the Vectron shares from stock exchange trading.
Vectron Systems AG, which is listed in the open market of the Frankfurt Stock Exchange, is one of Europe's largest manufacturers of POS systems, POS software, apps and digital and cloud-based services, with 250,000 POS systems sold.
As the leader in commerce-enabling technology, Shift4 powers billions of transactions annually for hundreds of thousands of businesses in virtually every industry.
The following Gleiss Lutz team led by Dr. Andreas Löhdefink (partner) and Kevin Löffler (both M&A, both Frankfurt) has advised Shift4: Dr. Philipp Jaspers, Dr. Christoph Auchter, Dr. Ken Laws, Lukas Glocker (all M&A, all Frankfurt), Dr. Christian Hissnauer (partner), Aike Würdemann (both Financial Regulatory, both Frankfurt), Dr. Stephan Aubel (partner), Alexander Gebhardt (counsel, both Frankfurt), Dr. Walter Andert (all Corporate/Capital Markets, Berlin), Fritz Ludwig (counsel, Banking & Finance), Dr. Ocka Stumm (partner, both Frankfurt), Dr. Enrico Farinato (Stuttgart), Jochen Pfleger (all Tax, Hamburg), Dr. René Kremer (counsel), Viktoria Faust (both Stuttgart), Julian Jörges (all Dispute Resolution, Frankfurt), Dr. Christian Hamann (partner), Sebastian Claus (both Data Protection, both Berlin), Dr. Tobias Abend (counsel), Lea Kuhr (both Employment, both Frankfurt), Dr. Alexander Fritzsche (partner, Frankfurt), Dr. Christina Wolf (both Competition/Antitrust, Brussels), Dr. Christopher Noll (Stuttgart), Jan Hinrichs (both IP/Tech, Berlin), Dr. Till Trouvain (Compliance & Investigations, Frankfurt), Vivien Etzkorn (Foreign Trade Law, Düsseldorf).
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