Bitcoin Group to Buy German Bank Bankhaus von der Heydt for More Than $15M

By Sheldon Reback

Bitcoin Group (ADE), a holding company focusing on the blockchain and cryptocurrency industries, said it agreed to buy all of Germany’s Bankhaus von der Heydt for 14 million euros (US$15 million) in cash and 150,000 shares.

  • The acquisition will give the company control of the one of the world’s oldest banks and a holder of a full banking license in Germany.
  • The transaction is expected to be completed by third-quarter 2023.
  • Bankhaus von der Heydt, or BVDH, is based in Munich and was established in 1754.
  • Bitcoin Group said in October it was acquisition talks with several potential targets, including Bankhaus von der Heydt.
  • Shares in Bitcoin Group rose 0.6% to 20.22 euros in Germany.                                                                                                                                                                                                           Via: Coindesk
Facebooktwittergoogle_plusredditmailby feather

Leave a Reply