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)
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About PwC Germany:
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