HEUKING advises the NAGA Group on its merger with KWG
A team led by HEUKING partner Dr. Thorsten Kuthe, Cologne, provided legal advice and support to the NAGA Group in its merger with the Key Way Group (KWG).
The merger of the two companies is expected to generate significant synergies. It also strategically positions NAGA to build the world's largest social trading network. This will enable customers to trade stocks and cryptoassets or copy trades.
The merger took place as part of a capital increase through contribution of assets, which was proposed at the Annual General Meeting, by contributing all shares in the parent company of KWG by its shareholders in exchange for new shares in The NAGA Group. NAGA issued approximately 170 million The NAGA Group shares as part of the capital increase through contributions in kind, giving KWG a majority stake.
The contribution of the KWG shares took effect on January 1, 2024.
The NAGA Group is a German fintech company that offers an investment app with an integrated social network. The company is headquartered in Hamburg, Germany. It was listed on the Frankfurt Stock Exchange in 2017.
The Key Way Group has over 10 years of experience in the fintech scene, in supporting start-ups, in marketing, and in online trading. KWG employs over 235 people and operates, among other things, the trading platform capex.com.
The team led by Dr. Thorsten Kuthe regularly advises the NAGA Group on capital market law matters, such as its IPO in 2017 and capital increases.
Counsel NAGA Group
HEUKING:
Dr. Thorsten Kuthe (lead), Cologne
