Cembra Money Bank turns to ECM to fund Cashgate merger

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By Aidan Gregory
02 Jul 2019

Cembra Money Bank, the Swiss financial services company, struck a Sfr277m ($281m) deal to acquire Cashgate on Monday, a Swiss consumer leasing and credit provider, from Aduno Holdings.

The takeover, which is expected to be completed in the third quarter, will increase Cembra Money Bank’s portfolio of personal loans and auto leases by Sfr1.4bn, to around Sfr6.2bn.

To partially finance the transaction, Cembra Money Bank turned to the equity capital markets on Monday night, by selling ...

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