Valartis Group acquires Credit Card Business from Jelmoli Holding
On May 28, 2010, SIX listed Valartis Group (www.valartis.ch) acquired 72.5% of the shares of Jelmoli Bonus Card AG from Jelmoli Holding AG. As a result, Valartis Group now owns 100% of the shares of the company. Jelmoli Bonus Card is a credit card issuer with more than 300'000 cards in issue, including the Visa Bonus Card and the Swiss Railways Half-Fare Visa Card.
Lenz & Staehelin advised Valartis Group in this transaction, including related IT unbundling and transitional services. The team included Hans-Jakob Diem (Corporate), Marc-Philippe Prinz (Corporate) and Philipp Jermann (IT).