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published JANUARY 25, 2010

CMS Hasche Sigle advises walter services on acquisition of SEB Card Service GmbH

First complete outsourcing of a service centre in the financial services sector Walter services Holding GmbH is set to acquire SEB Card Service GmbH, headquartered in Frankfurt/Main, from SEB AG in the first half of 2010. In addition to phone banking, an Internet hotline, call centre and e-mail processing, SEB Card Service GmbH handles the telephone overflow for the 174 branches of the German subsidiary of a leading Swedish bank. This is the first time that a bank's internal call centre has been sold in its entirety to a non-bank enterprise and transferred to an external private limited company [GmbH]. A team from CMS Hasche Sigle led by lead partner Dr Petra Schaffner advised walter services on all aspects of the transaction. Back in November 2009, CMS Hasche Sigle advised walter services on the purchase of two call centres from Quelle.Contact Group following the collapse of owner Arcandor. The purchase price was not disclosed. The transaction is currently awaiting approval from the competition authorities. For more than 25 years, walter services has been a leading customer service centre provider in Germany. Based in Ettlingen, the company has some 8,000 employees across 20 locations in Germany, Poland, Austria, Switzerland and Romania. Advisers CMS Hasche Sigle: Dr Petra Schaffner, Corporate/M&A (Lead Partner) Michael Kamps, IT/Outsourcing Dr Joachim Kaetzler, Banking Law and Bank Regulation Dr Christopher Jordan, Employment Law Dr Hagen Weishaupt, Corporate/M&A