Cembra Money Bank AG (SWX:CMBN) agreed to acquire Byjuno AG and Intrum Finance Services AG from Intrum AB (publ) (OM:INTRUM) for CHF 60 million on September 30, 2022. Cembra Money Bank AG is paying CHF 18 million to Intrum AB as a part of transaction. Cembra intends to combine Byjuno AG and Intrum Finance Services AG with its subsidiary SWISSBILLING SA to create a leading provider of invoice payment solutions with the aim to establish compelling solutions for online and point-of-sale checkouts for pay-by-invoice services in Switzerland. Purchase price will be financed through excess capital available in cash and debt. Christian Stolz, Chief Executive Officer of Byjuno, will be appointed Chief Executive Officer of the combined business and work in tandem with Jean-Christophe Calmes, Chief Executive Officer of Swissbilling, who will act as Deputy Chief Executive Officer. As part of the transaction, Cembra and Intrum AG also agreed on a cooperation in BNPL debt collection activities and credit information. The transaction is expected to close in the fourth quarter of 2022 subject to customary closing conditions. Markus Pfenninger and Markus Vischer of Walder Wyss Ltd. acted as legal advisors to Cembra Money Bank AG. Pascal Richard, Petra Hanselmann and Markus Winkler of Pestalozzi Attorneys at Law Ltd acted as legal advisor to Intrum AB (publ) (OM:INTRUM).
Cembra Money Bank AG (SWX:CMBN) completed the acquisition of Byjuno AG and Intrum Finance Services AG from Intrum AB (publ) (OM:INTRUM) on November 1, 2022. The business will be consolidated from the beginning of November 2022.