Bitcoin Group SE (XTRA:ADE) signed an agreement to acquire Bankhaus von der Heydt GmbH & Co. KG from Dietrich von Boetticher for €17 million on December 12, 2022. Under the terms of transaction, €14 million will be paid in cash and 0.15 million shares. The transaction is subject to approval from German Federal Financial Supervisory Authority and is expected to close in third quarter of 2023. Dr. Thorsten Kuthe of Heuking Kühn Lüer Wojtek acted as legal advisor to Bitcoin Group SE.

Bitcoin Group SE (XTRA:ADE) cancelled the acquisition of Bankhaus von der Heydt GmbH & Co. KG on May 8, 2023. With the approval of the Supervisory Board, the Management Board today decided to exercise the right of withdrawal agreed in the Share Purchase Agreement (SPA). After a thorough review, the Management Board has come to the conclusion that a takeover of Bankhaus von der Heydt is not value-creating for Bitcoin Group SE and its shareholders.