Deals/M&A Financial Services

PwC advises REA Ventures on the acquisition of JFD Bank Group

Frankfurt / Nicosia, 29th January 2021

A multidisciplinary and international team from the PwC / PwC Legal network has advised REA Ventures GmbH & Co. KG on its cross-border acquisition of JFD Bank Group, providing legal, tax and IT advice. Lawyers from PricewaterhouseCoopers Legal AG Rechtsanwaltsgesellschaft (PwC Legal) and S.A. Evangelou & Co LLC, a company in the PwC Legal network, provided support on legal and regulatory due diligence and the sale and purchase agreement, while experts from PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft (PwC Germany) advised on tax and IT aspects (tax due diligence, IT due diligence, sale and purchase agreement).

As an investment manager, Hamburg-based REA Ventures implements the venture capital strategy of a Single Family Office. A separate investment company was used as the purchasing investment vehicle to execute the transaction.

The JFD Bank Group consists of JFD Group Ltd, a financial services provider based in Limassol, Cyprus, which is regulated by the Cypriot securities regulator CySEC, and JFD Bank AG, which is a German securities trading bank regulated by BaFin. The core business includes securities services such as the acceptance and execution of customer orders in various financial products as well as portfolio management.

Advisors to REA Ventures:

PwC Legal:

Dr Markus Lange, Dr Jens Bornscheid, LL.M., Maxi Wilkowski, Veronika Ghedina, Dr Alexander Rüter (all Financial Services Legal, Frankfurt), Joy Otto Neugebauer (Corporate/M&A, Berlin)

PwC Germany:

Dr Mathias Link (Tax, Frankfurt), Karin Plähn (Tax, Düsseldorf), Michael Schulz (IT, Cologne)

S.A. Evangelou & Co LLC:

Panayiotis Panayides, Kypros Santis, Fedonas Ioannou, Yiannis Simakis (all Corporate/M&A), Maria Athienitou (Regulatory)

About PwC Legal:

In our global, rapidly changing business world, cooperation, restructuring, transactions, financing and social responsibility are topics that increasingly concern our clients. They need legal certainty for a wide range of complex tasks. That is why we advise them holistically and in close cooperation with PwC’s tax, human resources and finance experts and our international legal network in over 100 countries. Whether a globally active company, a public corporation or a wealthy private individual, every client has a personal contact at our firm who supports them responsibly in all matters of commercial law. In this way, we help our clients to secure their economic success in the long term.

PwC Legal. More than 220 lawyers at 18 locations. Integrated legal advice for the practice.

About PwC:

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 155 countries with over 327,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

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