Allen & Overy has advised Eurowag on a strategic partnership through the acquisition of a minority stake in the JITpay Group. Reportedly, Germany-based Compleneo advised the JITpay Group.
Eurowag is a European integrated payments and mobility platform focused on the commercial road transport industry. The JITpay Group is a Germany-based payment service provider specializing in the logistics industry.
According to Allen & Overy, “this move will allow Eurowag to expand its product portfolio by offering invoice discounting, digitalized billing, and receivables management solutions. As part of the strategic partnership, Eurowag has acquired a minority stake in JITpay, with the flexibility for a potential increase of its ownership over time, subject to regulatory approvals. Eurowag’s customers will gain access to JITpay’s market-leading invoice discounting and management products, expanding a key pillar of its payment and mobility platform. JITpay's proprietary technology will also enable Eurowag to further improve the efficiency of the CRT industry.”
In 2021, Allen & Overy advised Eurowag on its London Stock Exchange IPO (as reported by CEE Legal Matters on September 21, 2021), on its acquisition of WebEye Telematics (as reported by CEE Legal Matters on December 10, 2021), and on its strategic partnership with Drivitty (as reported by CEE Legal Matters on April 21, 2021).
Allen & Overy’s team included Czech Republic-based Partner Prokop Verner and Senior Associate Jana Chwaszcz and Germany-based Partner Michael Weiss and Associate Veronika Gaile.