SIX takes full control of Cetrel
01 April 2014 | 1172 views | 0
SIX has increased its stake in the Luxembourg financial services provider CETREL S.A. from 50% to 100% as of 31 March 2014, thus further strengthening its position as a leading provider of financial services in Europe.
The parties involved executed the agreement today. In doing so, SIX has underlined the real significance of strategic cooperation and in taking over the company, will expand its leading international offering in the area of card-based payment transactions.
SIX is aiming to strengthen its position in the acquiring business in the greater Luxembourg region and expand the international issuing-processing offering of SIX in Europe. Maintaining central services to strengthen the competitive position of the Luxembourg financial center will continue to be one of the core activities for the company.
Roland Ludwig (1975, Swiss citizen) will remain the CEO of CETREL S.A.