Ellex has advised the LHV Group on its EUR 8 Million acquisition of the shares in EveryPay. Fort Legal advised the seller.
"EveryPay shareholders, in turn, will receive new shares issued by LHV Group. The final decision on whether to go ahead with the transaction will be made on 30 March 2022, at LHV’s general meeting of shareholders," Ellex informed. "Founders Joel Mitt and Lauri Teder will continue working for EveryPay post-acquisition."
EveryPay is a payment gateway platform connecting banks and e-commerce companies with card payments and open banking payments methods. The company also offers automatic payments, mass payments, standing payments, and LinkPay payments.
LHV Group is an Estonian financial group and capital provider.
"More than before, we wish to grow business activities related to payment services," LHV Group CEO Madis Toomsalu commented. "This has become an important part of LHV’s strategy. We see the local retail banking segment, the financial intermediaries segment, and the United Kingdom e-commerce companies segment as our target groups across LHV Group’s companies. Payment collection businesses related to e-commerce, such as online card payments and open banking payments, are rapidly increasing in terms of the Estonian retail banking segment. The joint offer of LHV and EveryPay to e-commerce merchants is one of the best in Estonia."
The Ellex team included Partner Gerli Kivisoo, Counsels Rutt Vark and Dmitri Rozenblat, Senior Associates Hanna Pahk, Merlin Liis-Toomela, and Meree Punab, and Lawyer Liis Tava.
The Fort team included Managing Partner Kuldar-Jaan Torokoff.
