Cembra completed the acquisition of Cashgate from Aduno for CHF277m.

Cembra Money Bank completed its acquisition of Cashgate from Aduno for CHF277m ($283m). Through its acquisition of Cashgate, Cembra Money Bank will also be taking on the employees of Cashgate and will fully repay the existing borrowing of the Cashgate business. “With the acquisition of cashgate we continue to implement our growth strategy. Thanks to this acquisition we are further expanding our market position in the Swiss consumer finance space and growing as an independent provider of auto leases and loans. We also look forward to continue digitising our core business together with the experienced team at cashgate.” Robert Oudmayer, Cembra Money Bank CEO.