Gleiss Lutz advises Global Payments on a joint venture with Commerzbank

Gleiss Lutz has advised Global Payments Inc., a leading worldwide provider of payment technology and software solutions, on a joint venture with Commerzbank AG. Global Payments will hold a 51 percent stake in the joint venture company, which will be based in Frankfurt am Main, Germany, and Commerzbank will hold the remaining 49 percent. The completion of the transaction is subject to the approval of the responsible supervisory and antitrust authorities.

The new entity, Commerz Globalpay GmbH, will provide a comprehensive suite of innovative omnichannel solutions at scale, providing a one-stop-shop for merchants to run and grow their businesses more efficiently. Commerz Globalpay GmbH will offer digital payment capabilities, including Global Payments’ smartphone-based payment applications that enable merchants to accept mobile payments without a separate card reader, modern card terminals and e-commerce/mobile payment solutions. Further, business customers will have access to a variety of leading value-added services, including cloud-based point-of-sale software, customer loyalty programs, an analytics and customer engagement platform, and more.

Global Payments Inc. is a leading payments technology company delivering innovative software and services to their customers globally. Its technologies, services and team member expertise allows to provide a broad range of solutions that enable customers to operate their businesses more efficiently across a variety of channels around the world.

Commerzbank is a leading German bank with around 26,000 corporate client groups and almost 11 million private and small-business customers in Germany.

The following Gleiss Lutz team lead by Dr. Martin Viciano Gofferje (partner) and Dr. Christoph Meissner (both Corporate/M&A, both Berlin) has advised Global Payments Inc.: Dr. Christian Hissnauer (partner), Aike Würdemann (both Banking & Finance, both Frankfurt), Dr. Micha Pfarr (counsel), Dr. Pirmin Emanuel Schreiner (both Berlin), Maximilian Leisenheimer, Dr. Antonius Mann, Julia Wohlmuth (all Corporate/M&A, all Frankfurt), Dr. Alexander Molle (partner), Dr. Hannah Bug (both IP/Tech, both Berlin), Dr. Ocka Stumm (partner), Dr. Stefan Mayer (partner), Dr. Dominik Monz, Dr. Leonhard Kornwachs, Dr. Johannes Heck (all Tax, all Frankfurt), Dr. Rut Steinhauser (partner), Josefine Chakrabarti (counsel, both Employment, both Berlin), Dr. Alexander Fritzsche (partner), Dr. Birgit Colbus (counsel), Dr. Kristina Sirakova, Dr. Juliane Langguth (all Competition/Antitrust, all Frankfurt), Dr. Manuel Klar (counsel, Data Protection, Munich), Dr. Jacob von Andreae (partner), Lennart Förster, Aylin Hoffs (all Foreign Trade Law, all Düsseldorf). 

Gleiss Lutz has advised Global Payments Inc. on the joint venture together with a team from the law firm Alston & Bird LLP led by partners Richard Willis and Robert Ardern.

Gleiss Lutz has extensive expertise in advising companies on cross-border and complex joint ventures. Gleiss Lutz teams have advised, for example, Robert Bosch, Infineon and NXP on a joint investment in ESMC, ZF Friedrichshafen on joint ventures with Foxconn and with KPIT Technologies and Curaleaf on a strategic partnership with Four 20 Pharma.