Țuca Zbârcea & Asociații Advises Getin Holding on its Romanian Market Entry
Țuca Zbârcea & Asociații acted for Getin Holding as it sealed its first deal in the Romanian market.
The Romanian independent law firm has advised the fastest growing Polish financial group throughout its acquisition of the full 100% stake in the Romanian International Bank (RIB), a local lender dealing with individual clients and small- and medium-sized enterprises.
The deal marks the first Romanian market entry by the Polish financial group, which also owns a number of banks and financial companies in Ukraine, Russia and Belarus.
Țuca Zbârcea & Asociații fielded a team of lawyers headed by Cornel Popa (Partner), and Gabriela Anton (Managing Associate). They were supported by other lawyers from the firm’s banking, M&A, competition, IP and labour practice groups, including Mihai Anghel, Andreea Oprișan, Cornelia Tăbîrță, and Sergiu Crețu.
The team advised the buyer throughout the acquisition process, covering the due diligence investigation into the target company, defining and structuring of the contractual framework and negotiating the transaction documents. The deal is subject, inter alia, to regulatory approval from the main financial market supervisory authorities.
Țuca Zbârcea & Asociații will continue to advise Getin Holding on implementing the agreement.
Getin Holding operates on Eastern European markets such as Poland, Ukraine, Belarus and Russia in the banking, financial intermediation, insurance and leasing sectors. The Polish financial group is one of the biggest companies listed on the Warsaw Stock Exchange WIG 40 index.
The acquisition of the Romanian International Bank is part of a series of banking matters in which Țuca Zbârcea & Asociații has been involved during the past 12 months. These have included major moves through which credit and financial institutions have resized their operations on the local market through portfolio acquisitions or transfers. In this context, Țuca Zbârcea & Asociații acted for Piraeus Bank in relation to the takeover of some of ATE Bank’s assets in a partial de-merger, and advised UniCredit Tiriac Bank on the takeover of RBS Bank Romania’s retail portfolio.