GFKL Financial Services AG entered into agreement to acquire IS Inkasso Service GmbH from Hannover Finanz GmbH and and the management of IS Inkasso Service on April 28, 2016. Pursuant to the transaction, the curent management of IS Inkasso Service will remain with IS Inkasso Service. The transaction requires antitrust clearance.

The transaction is expected to complete by the end of May 2016. Ingo Strauss, Heiko Gotsche, Wendelin Ettmayer, Deny Silny, Stefan Arnold, Lukas Feiler, Andreas Traugott, Marc Lager, Katerina Schenkova, Dieter Buchberger, Andrea Eigner, Christoph Urtz, Elisabeth Wasinger, Franz Arztmann and Julia Moser of Baker & McKenzie acted as legal advisors for GFKL Financial Services AG. Fellner Wratzfeld & Partner acted as legal advisor for the sellers.

Axwl Oltmann of Clearwater International GmbH acted as a financial advisor to Hannover Finanz GmbH. Ashcombe Advisers LLP acted as a financial advisor to Lowell Financial Services GmbH.