Joint Venture among Maus Frères Group and Aduno

Maus Frères Group announced the sale of a part of its newly acquired shares in Accarda to Aduno for an undisclosed consideration to form a joint venture with the Aduno Group. Accarda is the leading independent processor and issuer of private label cards in Switzerland administering more than 1.9 million customer accounts. Aduno Group, itself a joint venture between Cantonal Banks, the Raiffeisen Group, Regional Banks, Migros Bank, Bank Coop and BSI, includes Viseca Card Services, another major processor and issuer of customer cards in Switzerland.

Maus Frères was advised by Lenz & Staehelin. The Lenz & Staehelin team included Beat Kühni, Benjamin Fehr and Liv Droz.