Polskie ePłatności sp. z o.o. acquires customer portfolio and raises additional funding
25.04.2024
We supported Centrum Rozliczeń Elektronicznych Polskie ePłatności S.A. and Polskie ePłatności sp. z o.o. in their corporate reorganisation involving spin-off of a group of assets for acquisition by Polskie ePłatności sp. z o.o. The acquisition involved CRE PeP’s full customer portfolio and all of the company’s processes, enabling the burden of activity to be shifted from CRE PeP, a process company, to Polskie ePłatności sp. z o.o., a national payment institution.
Additionally, we supported Polskie ePłatności sp. z o.o. in obtaining bank financing for the company’s ongoing settlements with merchants. The company is one of the largest payment service providers in Poland, particularly in accepting and processing payment transactions.
Handling this complex and multifaceted project required coordination of corporate, regulatory, M&A, tax and financial issues.
We supported Polskie ePłatności sp. z o.o. in executing an agreement allowing it to operate as a payment organisation, in structuring the reorganisation, in the financing transaction, and in employment and corporate matters. We provided representation before the registry court and in negotiation of loan documentation, assistance in meeting loan disbursement conditions, and regulatory advice on payment services.
Our team consisted of Konrad Werner (counsel), Piotr Ząbkiewicz (senior associate), Rafał Kuchta (senior associate), Filip Kurys (associate), Paulina Adamczyk (junior associate), Adam Strzelecki (junior associate), Kinga Ziemnicka (partner), Krzysztof Wojdyło (partner), and Daniel Smarduch as the partner overseeing the team.
The legal team at Polskie ePłatności included Patrycja Smycz, Mateusz Bartłomiejczyk, Alan Migut, Katarzyna Rybak, and Mateusz Godecki as director of the Legal Department, overseeing the project from the in-house legal perspective.
The consulting firm Deloitte provided tax advisory in the transaction, and the lender was advised by the law firm Clifford Chance.