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News

SIX Group carves-out European cards business into strategic partnership with Worldline

15.05.2018 – On 15 May 2018, SIX and Worldline, two European leaders in the payments and transactional services industry, announced their agreement under which SIX will bring its existing cards business (merchant acceptance & acquiring and international card processing) into a strategic partnership with Worldline. SIX Payment Services and the 1,300 employees in Switzerland, Luxembourg, Austria, Germany, Poland and other locations in Europe will transfer to Worldline.

The total consideration to be received by SIX amounts to CHF 2,750 million consisting of 49.1 million Worldline shares listed at Euronext and a cash consideration of approx. CHF 338 million. The combined enterprise will be the largest European provider in the payments services industry. The transaction is subject to certain closing conditions, including customary regulatory approvals and expected to close in Q4 2018.

Schellenberg Wittmer is acting as Swiss legal counsel to SIX Group. The team consists of partners Lorenzo Olgiati (Corporate/M&A, overall co-lead), Martin Weber (Corporate/M&A, overall co-lead), Josef Caleff (Real Estate/M&A), Roland Mathys (ICT), Philipp Groz (IP), of counsel Christine Beusch-Liggenstorfer (Employment) and associates Mirjam Schneider, Karin Hofstetter, Christian Bonhôte, Zlatina Iliev and Marcel Jakob (all Corporate/M&A), Samuel Klaus (ICT) and Teresa Rudolph (IP).