Greenberg Traurig Represents Alior Bank in the Acquisition of the Core Business of Bank BPH from GE Capital

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Greenberg Traurig advised Alior Bank in an agreement to acquire Bank BPH’s core business from affiliates of GE Capital.

Lejb Fogelman

Greenberg Traurig advised Alior Bank in an agreement to acquire Bank BPH’s core business from affiliates of GE Capital. The agreement was signed yesterday, March 31, 2016. Alior Bank has valued Bank BPH’s core business at PLN 1.5 billion.

The transaction will be conducted by the acquisition of the shares in Bank BPH through a public tender offer followed by demerger of the core business of Bank BPH into Alior Bank. The transaction is to be financed by a rights issue of Alior Bank.

“This is the second transaction, after Meritum Bank, in which Greenberg Traurig is representing us. We highly appreciate our cooperation with the law firm and its role in establishing the innovative structure of the acquisition of Bank BPH. This is just the beginning of our cooperation, the demerger of Bank BPH and the offering of Alior Bank shares are ahead of us," said Wojciech Sobieraj, the President of the Management Board of Alior Bank.

“We are very pleased to have an opportunity to represent Alior Bank in another prestigious transaction. This transaction confirms the position of Greenberg Traurig as a leader in mergers and acquisitions in Poland with a particular focus on the banking and finance sector," added Lejb Fogelman, Senior Partner of Greenberg Traurig’s Warsaw office.

The Greenberg Traurig team is led by Senior Partner Fogelman, Partner Stephen Horvath from the London office, and Partner Łukasz Pawlak.

Completion of the transaction is subject to fulfillment of conditions precedent, including consent of the relevant antimonopoly authority and approvals and clearances of the PFSA. The transaction is expected to be completed by the end of 2016.

About Greenberg Traurig, LLP

Greenberg Traurig, LLP is an international, multi-practice law firm with approximately 1900 attorneys serving clients from 38 offices in the United States, Latin America, Europe, Asia, and the Middle East.

Greenberg Traurig Grzesiak sp.k. was named the 2013 International Law Firm of the Year in Poland by Chambers and Partners. The Warsaw office of Greenberg Traurig, LLP provides legal services to clients in Central Europe and beyond and consists of 80 lawyers. Team members are regularly recognized as leaders in numerous practice areas. Chambers Global, Chambers Europe, IFLR1000 and EMEA Legal 500 consistently rank them among the top tiers the areas of Corporate/M&A, Capital Markets, Real Estate, Private Equity, Tax, Banking and Finance, Project Finance, Energy, Dispute Resolution and TMT.

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Lourdes Brezo-Martinez
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