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WOLF THEISS advises SHAREHOLDERS of paysafecard.com on SALE to Skrill
Vienna, 3 July 2012 – The shareholders of paysafecard.com Wertkarten AG have sold 100% of their shares in the Austrian provider of prepaid payment solutions to the British online payment provider, Skrill Holdings Ltd. WOLF THEISS acted as the advisor to the sellers on this transaction.
The acquisition of paysafecard.com Wertkarten AG contributes to the growth strategy of Skrill. Skrill's online payment system, is one of Europe's leading online payment solutions and one of the world's largest independent digital wallet providers. The leading Europe-wide prepaid payment solutions offered by paysafecard.com significantly enhance and expand the existing Skrill portfolio for online merchants and end-users. The transaction is subject to clearance by the regulatory authorities, namely the Austrian Finanzmarktaufsichtsbehörde (FMA), the UK Financial Services Authority (FSA), and the relevant merger control authorities.
In 2011, Wolf Theiss advised paysafecard.com in connection with the first Austrian payment services license and was subsequently instructed by its major shareholders to provide advice on the sale to Skrill. Partner Richard Wolf and Senior Associate Andrea Gritsch worked on the project on behalf of Wolf Theiss and were responsible, among other things, for negotiating the transaction documents and the regulatory filings.
Richard Wolf explains: "In the industry of payment solution providers and E-money institutions one needs specific expertise, which we have gained over a long period. We are delighted that we were able to assist the major shareholders of our long-time client paysafecard.com in this important milestone in the company's history."
ABOUT WOLF THEISS
Founded in 1957, Wolf Theiss is one of the leading European law firms in Central and Eastern Europe with a focus on international business law. With 300 lawyers in 13 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.
§ Best in Austria Award, 2012 (European Woman in Business Law Awards, Euromoney)
§ Energy Law Firm of the Year, 2012 (The Diplomat – Bucharest)
§ ÖGV-Entrepreneur, 2011 (ÖGV-Austrian Trade Association)
§ Law Firm of the Year: Central Europe, 2010 (The Lawyer European Awards)
§ Law Firm of the Year: Eastern Europe and the Balkans, 2009 (The Lawyer European Awards)
§ Law Firm of the Year, 2010 (Southeastern Europe Real Estate Awards, Europa Property)
§ Worldwide – Entertainment and Media Law Team of the Year, 2009 (World Leaders International IP Awards)
§ Austrian Client Service Law Firm of the Year, 2011 (Chambers & Partners)
§ Austrian Law Firm of the Year, 2012, 2011, 2010 & 2009 (Who's Who Legal, IFLR - International Financial Law Review; Chambers & Partners; PLC Which lawyer?; ILO - International Law Office)
§ Austrian Tax Law Firm of the Year, 2011, 2010 & 2009 (International Tax Review)
§ Czech Law Firm of the Year, 2010 (IFLR - International Financial Law Review)
§ Hungarian Law Firm of the Year, 2009 (IFLR - International Financial Law Review)
§ First Place Winner Practice Development, 2011 (Your Honor Awards, Legal Marketing Association)
For a complete awards list please visit www.wolftheiss.com\About Us\Awards
For more information please visit www.wolftheiss.com