Munich, April 4, 2017 – The international law firm Milbank, Tweed, Hadley & McCloy has advised Otto Group on the sale of Ratepay to Advent International and Bain Capital Private Equity. Ratepay specializes in processing payment methods for online shops and will be integrated into Concardis Group, the payment service provider the acquisition of which Advent and Bain Capital announced in January 2017. Ratepay will retain its brand and will be managed as an independent company within the Concardis Group.

Ratepay provides payment solutions with a full payment guarantee in the DACH region. Products include invoicing, instalment payments with real-time online approval, direct debit and pre-payment. Ratepay GmbH, headquartered in Berlin, was founded in December 2009 and has more than 100 employees.

The transaction remains subject to approval by the competent merger control authorities.

A Milbank team led by Rolf Füger and Sebastian Heim comprehensively advised Otto Group on corporate, tax and merger control law in relation to the transaction.

Advisor to Otto Group: Milbank, Tweed, Hadley & McCloy LLP

Rolf Füger (Tax, Munich), Sebastian Heim (Corporate/M&A, Munich, joint lead), Norbert Rieger (Corporate/M&A, Munich), Alexander Rinne, Moritz Lichtenegger (both Competition, Munich), Timo Schwarzwälder, Patrick Droese, Malte Krohn (all Corporate/M&A, Munich)