BPV Huegel has worked with lead counsels Herbert Smith Freehills and Proskauer Rose in advising AnaCap Financial Partners on the sale of its majority shareholding in its German fintech business, the Heidelpay Group, to US investment firm KKR.
Financial details of the transaction, which remains subject to approval by the German Federal Financial Supervisory Authority and the Commission de Surveillance du Secteur Financier, were not disclosed. The deal is expected to close in the first quarter of 2020.
Founded in 2003, Heidelpay Group is a payment provider offering a range of payment processing services to online and face-to-face merchants. Following KKR's acquisition, Heidelpay founder and CEO Mirko Hullemann and other key managers will remain as long-term shareholders.
The bpv Huegel team was led by Attorney at Law Daniel Reiter and included Partners Sonja Durager, Christoph Nauer, and Thomas Lettau, Attorneys at Law Holger Steinborn and Paul Pfeifenberger, and Associate Tamara Tomic.
Proskauer Rose's London-based team included Partners Richard Bull and Rob Day and Associates Andrew Houghton and Jacky Ball.
Herbert Smith Freehills's Frankfurt-based team included Partner Nico Abel and Associate Rudiger Hoffmann.
