Bitcoin Group SE acquires stake in Sineus Financial Services GmbH
Herford, January 15, 2018–Bitcoin Group SE announcesthat today the agreement to acquire 50% of the shares in Sineus Financial Services GmbH, based in Melle, Lower Saxony, has been notarized. The purchase price is in the lower six-digit range. The transaction is subject to the condition precedent of approval by the relevant regulatory authorities. Closing is planned for the first half of 2018.
Sineus Financial Services GmbH is a financial services institution registered by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht –BaFin) in the Register of Independent Fee-based Investment Advisors in accordance with section 93 of the German Securities Trading Act (Wertpapierhandelsgesetz –WpHG) with a license for the provision of investment services, investment advice and contractbrokerage.
In the purchase contract, Bitcoin Group SE has granted itself the right that the subsidiary Bitcoin Deutschland AG, as a contract bound broker of Sineus Financial Services GmbH can provide investment brokerage of cryptocurrencies in accordance with section2 paragraph 10 of the German Banking Act (Kreditwesengesetz –KWG)in accordance with section1 paragraph 1a sentence 2 no. 1 KWGif required.