Cembra Money Bank's subsidiary Cashgate sells rental guarantee business
On November 8, 2019, cashgate AG, a fully owned subsidiary of Cembra Money Bank AG, announced that it has entered into an asset purchase and transfer agreement with a group of real estate management companies as regards the assets related to the rental guarantee business operated under the "SmartCaution" brand for an undisclosed purchase price. The transaction was closed on the same day.
Lenz & Staehelin advised Cembra Money Bank AG and cashgate AG in this transaction. The team included Beat Kühni and Fabiano Menghini (overall / Corporate and M&A) and Lukas Staub (Corporate and M&A and TMT & Outsourcing).