Acquisition of the German Bank Bankhaus von der Heydt by Bitcoin Group!
The transaction is expected to close in the third quarter of 2023. Bitcoin Group (ADE), a holding company specializing in the blockchain and cryptocurrency industries, said it agreed to buy the entire Bankhaus von der Heydt in Germany for 14 million euros ($15 million) in cash and 150,000 shares.
The acquisition will give the company the control of one of the oldest banks in the world and the holder of the full banking license in Germany.
The transaction is expected to close in the third quarter of 2023. Bankhaus von der Heydt, or BVDH, is based in Munich and was founded in 1754.
Bitcoin Group said in October that it was in acquisition talks with several potential targets, including Bankhaus von der Heydt. The price of Bitcoin Group rose 0.6% to 20.22 euros in Germany.