Binder Grösswang advises SIX on acquisition of PayLife Bank

Binder Grösswang has advised SIX, a Swiss financial service provider and a subsidiary of the Swiss stock exchange, on the acquisition of PayLife Bank GmbH. 

PayLife Bank is Austria’s market leader for cashless payment systems both in the acquiring and the issuing sector.

Other than conducting an extensive due diligence examination of the target, Binder Grösswang advised on the offers of SIX to the sellers and participated in the negotiations and structuring of the transaction.

The competition team also prepared the necessary filings with the Financial Market Authority, as well as representing SIX in the proceeding before the Austrian Federal Competition Authority and merger control approval.