Brief: Cembra To Acquire Byjuno To Create A Leading Provider Of Invoice Payment Solutions In Switzerland

Cembra Money Bank AG

30/09/2022 17:30

Sept 30 (Reuters) - CEMBRA MONEY BANK AG  CMBN.S :
    * CORRIGENDUM: CEMBRA TO ACQUIRE BYJUNO TO CREATE A LEADING
PROVIDER OF INVOICE PAYMENT SOLUTIONS IN SWITZERLAND
    * CEMBRA HAS AGREED TO ACQUIRE BYJUNO, A MAJOR PROVIDER OF
INVOICE
PAYMENT SOLUTIONS IN SWITZERLAND, AS A FURTHER STEP IN EXPANDING
ITS EMBEDDED FINANCE PRODUCT SUITE AND ITS BUY NOW PAY LATER
BUSINESS
    * CEMBRA INTENDS TO COMBINE BYJUNO WITH ITS SUBDSIDIARY
SWISSBILLING TO CREATE A LEADING PROVIDER FOR INVOICE PAYMENT
SOLUTIONS IN SWITZERLAND
    * PURCHASE PRICE OF CHF 60 MILLION, AND POSITIVE NET INCOME
CONTRIBUTION FROM 2023 ON
    * TRADING UPDATE: CEMBRA'S POSITIVE PERFORMANCE CONTINUES IN
Q3
    * OUTLOOK 2022 AND MID-TERM TARGETS CONFIRMED
    * CEMBRA HAS SIGNED A SHARE-PURCHASE AGREEMENT TO BUY BYJUNO
AG
AND ITS SISTER COMPANY INTRUM FINANCE SERVICES AG FROM INTRUM
AG. BYJUNO IS A MAJOR PROVIDER OF INVOICE PAYMENT SOLUTIONS IN
SWITZERLAND WITH A BILLING VOLUME OF CHF 408 MILLION IN 2021 AND
FINANCING RECEIVABLES OF CHF 39 MILLION AS PER END OF 2021
    * TRANSACTION IS EXPECTED TO CLOSE IN Q4 OF 2022 SUBJECT TO
CUSTOMARY CLOSING CONDITIONS

Source text for Eikon:  ID:nEQ10cRsna 
Further company coverage:  CMBN.S 
 (Gdansk Newsroom)
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