On July 1, 2019, SIX-listed Cembra Money Bank announced that it has signed a share purchase agreement with Aduno Holding for the purchase of 100% of the shares in cashgate AG for a purchase price of CHF 277 million. The acquisition of cashgate, which is expected to close in Q3 2019, will allow Cembra to realize substantial synergies and increase its financing portfolio of private loans and auto leasing financings by around CHF 1.4 billion to around CHF 6.2 billion. As part of the transaction, Cembra Money Bank will refinance balance sheet liabilities of cashgate in the amount of around CHF 1.4 billion at closing. Lenz & Staehelin is advising Cembra Money Bank in this transaction. The team includes Beat Kühni and Fabiano Menghini (overall / Corporate and M&A), Lukas Staub (TMT and Outsourcing), Astrid Waser and Patrick Sattler (Competition) and Robin Hauser (Regulatory).