Hannover Finanz GmbH, GBK Beteiligungen AG signed an agreement to acquire IS Inkasso Service GmbH and IS Forderungsmanagement GmbH from Transcom WorldWide SA (OM:TWW SDB B) for €15 million in cash on June 27, 2014. The transaction is on a cash and debt free basis. The consideration will be paid in cash at closing.

In 2013, IS Inkasso Service had revenues of €16.3 million. The management of IS Inkasso Service will remain on board after the completion of the transaction. The transaction is subject to approval by the Austrian competition authorities, regulatory approval and is expected to close during August 2014.

Lukas Flener of Fellner Wratzfeld & Partner acted as legal advisor, Gerald Weiss of TPA Horwath acted as financial advisor to HANNOVER Finanz. Johannes Trenkwalder, Oliver Werner, Dieter Zandler, Aakriti Chandihok of CMS Reich-Rohrwig Hainz acted as legal advisors for Transcom.