Strategic acquisition in the German fintech sector

The reorganization of FinTech companies continues, in many cases through the acquisition of existing companies. For example, the shares of German FinTech company Catana Capital, a pioneer in Big Data and artificial intelligence (AI) -driven asset management, will be fully acquired by its strategic partner, Lehner Investments (LIAG). 

The acquisition is being made in exchange for the issuance of 11.5 million new shares in LIAG, which is listed on the Frankfurt Stock Exchange, at an issue price of $1.99 (€1.64) per share certificate for the approximately 71 percent of Catana’s business shares not previously held by LIAG. LIAG informs about this takeover by means of a press release.

The transaction was entered in the commercial register on January 20th, 2021, following the prior approval of Catana’s shareholders and the approval of LIAG’s Annual General Meeting. The German Financial Supervisory Authority has also already approved the transaction in the context of a bearer control procedure.

Catana will act as the central asset manager of the Lehner Investments Group in the future, alongside the sales unit Lehner Investments Sales Agency and the development and administration unit Lehner Investments Engineering. The external appearance for all joint products and services will in future be uniformly under the brand “Lehner Investments – The Art of Artificial Intelligence”. Accordingly, Catana Capital will operate under the name Lehner Investments Management GmbH in the future.

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The two companies have big plans of expanding the business

“I am very pleased that Catana Capital will now become part of the Lehner Investments Group. Together, this will enable us to even more efficiently and successfully advance our positioning as the leading asset management company in Europe for AI and Big Data investment solutions based on Catana’s expertise and Lehner Investments’ experience and network,” said Bastian Lechner, founder and managing director of Catana Capital.

“As the founder of Lehner Investments, I am delighted to welcome Catana’s shareholders and employees as part of Lehner Investments. After the successful collaboration with Catana over the last two and a half years, we are convinced of the significant potential in the application of AI and Big Data for investment. With Catana, we now have an innovation driver that will be instrumental in driving the future growth of Lehner Investments,” said Markus Lehner, founder and major shareholder of Lehner Investments.

“The full acquisition of Catana Capital represents a milestone for LIAG as a publicly traded company to complete our equity story as an operating financial services holding company. The first step of our reverse IPO through the contribution of the three companies has thus been completed,” said Siddharath Lugani, CEO of Investments AG.

In addition to taking over operational and cross-group activities, LIAG also performs the function of a financial services holding company. In the long term, the next step of the reverse IPO is planned to increase the free float of the shares after a further increase in assets under management. LIAG already considers itself to be attractively positioned and will be able to pay dividends in the future. 

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(Featured image by Aymanejed via Pixabay)

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First published in INSTITUTIONAL money.com, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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