Bird & Bird LLP is advising Postbank Group, along with Clifford Chance and Linklaters, in relation to the acquisition of HSH Nordbank’s payment transactions.
The Postbank subsidiary Betriebs-Center für Banken AG (BCB) will take over the payment trans-actions of HSH Nordbank in several stages; by the end of 2010 all domestic and foreign payment transactions will be running on BCB’s IT platform.
HSH Nordbank’s payment transaction employees will be taken on by BCB. As a result of the transaction, Postbank’s transaction volume will increase by a further 430 million transactions per annum to around eight billion. The agreement is subject to approval by the authorities.
Frankfurt IT Partner Jörg-Alexander Paul and associate Corinna Preuß, are advising Postbank Group. This is the first time Bird & Bird has advised Postbank. During his time at Linklaters, Jörg-Alexander Paul advised on Postbank's acquisition of the payment transactions of Deutsche Bank, Dresdner Bank and HVB
Martin Waiss of Postbank's legal department is conducting the negotiations along with Jörg-Alexander Paul. Postbank's Tobias Wolff is advising on employment law issues.
Further advisors are:
Clifford Chance: Dr. Stefan Menner, partner tax law, as well as the associates Dr. Michael Bohnhardt and Dr. Kristina Dudde
Linklaters: Dr. Carsten Grave, partner antitrust law and associate Dr. Antje Heinen
For more information please contact:
Dr. Alexander Schröder-Frerkes, Managing Partner Germany
T +49 (0) 211 2005 6223, email: firstname.lastname@example.org
Carola Heinig, Marketing Manager Germany
T +49 (0) 211 2005 6243, email: email@example.com
Notes to Editors
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