Global law firm Norton Rose Fulbright has advised German financial services group Wüstenrot & Württembergische AG (W&W) on the acquisition of 75 per cent of the share in Munich-based FinTech company treefin AG. This marks an important step in W&W Group’s digital strategy.
In 2015, treefin AG launched its self-developed finance assistant on the market with great success. The product supports its user as constant companion for financial services. Furthermore, the app is able to recognize areas for improvement and optimization of financial services used, as well as a way to detect cost cutting possibilities and notifies the user accordingly. The digital finance assistant is tailored to the needs of W&W customers and will be made available to such customers during the course of this year.
This transaction is the first takeover of an InsurTech startup by a listed insurance company. The team led by partner Eva-Maria Barbosa has provided W&W with comprehensive legal support during the entire transaction. Further assistance was provided by partner Dr. Cornelia Marquardt (employment law), of counsel Markus Müller (IT law and data protection) as well as associates Dr. Christina Lorenz, Benjamin Köstler (both insurance corporate law), Sebastian Frech (corporate law) and Jannis Breitschwedt (employment law).
Norton Rose Fulbright regularly advises W&W Group, most recently regarding the sale of two Czech subsidiaries to Allianz pojišťovna, a.s..
For further information please contact:
Stefanie Kerschke, PR & Communications Executive Germany
Tel: +49 89 212148 339; Mob: +49 174 34 528 72
Notes for editors:
Norton Rose Fulbright is a global law firm. We provide the world’s pre-eminent corporations and financial institutions with a full business law service. We have 3800 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.
Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.
Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.
For more information about Norton Rose Fulbright, see nortonrosefulbright.com/legal-notices.