Bitcoin Group to Buy German Bank Bankhaus von der Heydt for More Than $15M
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.
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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.
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The transaction is expected to be completed by third-quarter 2023.
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Bankhaus von der Heydt, or BVDH, is based in Munich and was established in 1754.
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Bitcoin Group said in October it was acquisition talks with several potential targets, including Bankhaus von der Heydt.
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Shares in Bitcoin Group rose 0.6% to 20.22 euros in Germany. Via: Coindesk
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