TRANSITION OF DC SWITZERLAND AND DC GERMANY TO NEW OWNERSHIP
Diners Club International has reached an agreement that allows a private investor group to purchase the Diners Club Switzerland and the Diners Club Germany franchises from Citi. The acquiring investor group is headed by Anthony J. Helbling, who has managed Citi's Diners Club card issuing business in Switzerland since 2004 and in Germany since 2008.
The transaction closed on August 6, 2010. Under the terms of the transaction, the investor group will acquire the businesses as going concerns, which involves the acquisition of all the payment card accounts in Switzerland and Germany. The existing employees will transfer to Diners Club AG in Switzerland, the new owner of the business, ensuring continuity and seamless service to cardmembers.
Learn more at http://www.dinersclub.de/#de/news.html