Bitcoin Group SE (DUSE:ADE) agreed to acquire Tremmel Wertpapierhandelsbank Gmbh from Rainer Bergmann for €3.5 million on November 12, 2018. €1.3 million was paid using funds from cash and cash equivalents. A convertible subordinated loan was agreed for the remaining €2.2 million. Post-completion, Rainer Bergmann will be bound with Tremmel on a long-term basis. The transaction is subject to the condition precedent of approval by German Federal Financial Supervisory Authority. The board of Bitcoin Group SE resolved the the acquisition on November 10, 2018. The deal is expected to complete in the first half of 2019.