Wardyński & Partners advises ING, BZ WBK and SGB-Bank on cooperation agreement with Piotr i Paweł
23.03.2018
The retail chain Piotr i Paweł has finalised an agreement under which Bank Zachodni WBK and ING Bank Śląski have increased their financing, SGB-Bank has confirmed the stability of the financing limits it has granted, and the chain’s capital will be raised thanks to funds managed by TFI Capital Partners.
The agreement is designed to secure the stability of Piotr i Paweł’s existing financing, ensure additional funds and instruments enabling it to conduct normal operations, and bring to an end the process of locating a strategic investor.
Wardyński & Partners advised three banks which are financial creditors of the Piotr i Paweł Group: ING Bank Śląski, Bank Zachodni WBK, and SGB-Bank. The team at the firm working on the project included Łukasz Szegda, partner in charge of the firm’s Banking & Project Finance practice, Daniel Smarduch, Michał Kalicki and Aleksandra Czyż.
There are over 140 stores operating in the nationwide retail chain Piotr i Paweł. The chain’s history dates back to 1990. The cofounders of the firm are the brothers Piotr and Paweł Woś, who expanded their Polish family business from one local store in Poznań into one of the leading supermarket chains in Poland.