McDermott advises giropay on sale to paydirekt

Frank­furt a.M. — McDer­mott Will & Emery advi­sed giro­pay GmbH on the sale of giro­pay to paydi­rekt GmbH. paydi­rekt GmbH takes over all rele­vant parts of giro­pay GmbH in order to provide the online payment proce­dure giro­pay in the future. The German banks and savings banks are thus bund­ling their two account-based online payment proces­ses. The closing of the tran­sac­tion is sche­du­led for Decem­ber 2020.

giro­pay GmbH, foun­ded in 2005 by Post­bank, the Spar­­kas­­sen-Finan­z­­gruppe (Star Finanz GmbH), and the coope­ra­tive Finanz­gruppe (Fidu­cia & GAD IT AG), provi­des an account-based service that enables “regis­­tra­­tion-free” payments on the Inter­net via online banking. As a payment method in German e‑commerce, giro­pay curr­ently proces­ses over one million tran­sac­tions per month in a wide range of industries.

Advi­sors to giro­pay GmbH: McDer­mott Will & Emery, Frank­furt a.M.
Dr. Michael Cziesla (Lead Part­ner), Norman Wasse, LL.M. (both Corporate/M&A), Daniel von Brevern (Anti­trust, Düssel­dorf), Florian Lech­ner (Coun­sel, Corporate/M&A, Tech­no­logy Law); Asso­ciate: Dr. Marion von Grön­heim (Corporate/M&A)

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