Orrick Holters & Elsing has advised Findos Investor, an independent private equity fund, on the acquisition of all shares in ABIT GmbH from the listed financial service provider GFKL Financial Services AG. ABIT GmbH with registered offices in Meerbusch (Dusseldorf, Germany) is a company specializing in credit and claims management, and which offers customized IT-solutions to savings banks, mutual savings banks, state banks and private banks.

The transaction was structured as a share deal. The purchase price amounted to a double-digit million euro sum. The exact amount was agreed to be kept confidential.

Legal counseling for the purchaser was provided by Dusseldorf corporate partner Oliver Duys who had already advised Findos in 2010 on the sale of Sterntaler to Bitburger. The Orrick team included Dusseldorf corporate associates Nicholas Kessler and Julia Overhage, Dusseldorf corporate of counsel Markus Weber, Dusseldorf corporate senior associate Kerstin Henrich, Dusseldorf employment law managing associate Ulrich Wahlers and Frankfurt corporate managing associate Stefan Renner.