Heuking Kühn Lüer Wojtek advised THE NAGA GROUP AG (NAGA) on the financing by Chinese investment group FOSUN International (FOSUN). The advice included also the issue of a convertible bond. FOSUN invests a total of EUR 12.5 million in the German company. The financing is thus one of the largest series A funding projects in Europe for a FinTech company in 2017 to date.
THE NAGA GROUP AG, headquartered in Hamburg, aims to promote the development, marketing, and growth of disruptive applications for financial technology. In November 2016, the FinTech, established a joint venture with Deutsche Börse to develop "SWITEX," the first regulated marketplace for virtual goods.
FOSUN Group was founded in Shanghai in 1992 and is a leading investment group taking roots in China with a global foothold. FOSUN Group's investments focus on industries linked to health, happiness, and wealth. In July 2007, FOSUN was listed on the Hong Kong Stock Exchange mainboard.
Counsel to THE NAGA GROUP AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Corporate/M&A), Cologne
Dr. Christoph Gringel (both Lead),
Michael Neises, (both Banking and Finance)
Christian Staps (Corporate/M&A), all Frankfurt
Stefan Westerheide, LL.M. oec (Corporate/M&A), Cologne