BPCE SA signed an agreement to acquire 95.8% stake in Fidor Bank AG from Capital Partners FZ LLC, Xange Private Equity, S.A., VCDE Venture Partners Geschäftsführungs-GmbH JZ International Ltd., the founders and managers of Fidor Bank AG, and other shareholders on July 28, 2016. As per the agreement Matthias Kröner will remain a shareholder of Fidor Group and continue as Chief Executive Officer to lead the development and business operations together with the existing management team. The transaction is subject to customary regulatory change of control approval from the European Central Bank and the BaFin and clearance from the German competition authority and is expected to close in the fourth quarter of 2016.

Johannes Weidelener LL.M., Georg F. Schröder and Alexander Jekeli of Heussen acted as legal advisors and Zelig Associates acted as financial advisor for Fidor Bank AG. Ed Berry and Kit Dunford of FTIConsulting acted as public relations advisor to JZ International. Matthias Hentzen, Johannes Adolff, Thomas Paul, Christian Schmies, Christian Hoefs, Hendrik Bockenheimer, Alf-Henrik Bischke, Martin Klein, Patrick H. Wilkening, Matthias Cloppenburg,Tobias Keller, Maximilian Schauf, Jan Steffen, Malte Wundenberg, Conrad Ruppel, Matthias Rothkopf, Benedict Migdal, Vicki Treibmann, Ralf Willer and Claudia Nees of Hengeler Mueller and Patrick Dziewolski, Paul Guillemin and Laura Gabay of Bredin Prat acted as legal advisors for Group BPCE.

Messier Maris & Associés acted as financial advisor and EY acted as accountant for the buyer.