Baker & McKenzie advised CRX Markets AG, Munich, on the structuring and implementation of a supply chain finance program for Nestlé S.A.. The Supply Chain Finance program allows suppliers to sell their claims against Nestlé at a favorable price before maturity. The strategic objective of the program is to further strengthen the long-term collaboration between Nestlé and its suppliers. CRX is launching the program in Asia, in 2017 Europe and America are on the agenda.
Baker & McKenzie advised on all legal aspects of the structuring and implementation of the Supply Chain Finance program, including the entire contractual framework. The transaction required the integration of the technical solutions of an innovative FinTech company, the legal characteristics of a reverse-factoring structure and the specific requirements of the parties involved into an efficient contractual architecture.
"Once again, we were able to support CRX with a supply chain finance program and to bring in our experience in the Fintech sector," commented Dr. Matthias Eggert, Banking & Finance partner in Munich. Already in spring of 2016, Baker & McKenzie advised CRX Markets on the structuring and implementation of a supply chain finance program for Vattenfall. "The program for Nestlé, an industry leader, is another milestone for CRX's business. With this transaction the FinTech company CRX impressively underlined its status as a leading supply chain finance platform."
As a start-up established in 2012, CRX Markets is an independent, integrated trading platform for short-term corporate financing. Companies benefit from a stabilization of the supply chain as well as an optimization of the performance of the working capital.
Baker & McKenzie’s securitization team advised clients on a large number of German and international structured financing transactions on an ongoing basis. Société Générale, Commerzbank Aktiengesellschaft, Landesbank Baden-Württemberg, NIBC Bank Deutschland AG, Volkswagen, Porsche Financial Services, BMW Bank, LeasePlan and FFS Bank are among the regular clients of the firm.
Legal advisors to CRX Markets AG:
Banking and Finance: Dr. Matthias Eggert (partner, Munich)
Banking and Finance: Timo Riester (associate, Munich), Frédéric Betrisey (partner, Geneva), Rodolphe Gautier (partner, Geneva), Olivia Sistovaris (associate, Geneva)
Tax: Jochen Meyer-Burow (partner, Frankfurt)
Inhouse (CRX Markets AG)
Head of Legal, Munich: Sören Kampmann