WARSAW – Oct. 5, 2016 - Greenberg Traurig advised ING Bank Śląski in connection with the division of the brokerage house ING Securities, a wholly owned subsidiary of ING Bank Śląski.
As a result of the division, the assets of ING Securities used for conducting brokerage activity were spun off to ING Bank Śląski while the remaining assets were transferred to another company from the group, Nowe Usługi.
The main purpose of this operation was to enable ING Bank Śląski to provide clients with a comprehensive range of brokerage services, as well as to achieve business synergies. Due to the nature of the transaction, as well as the scope of the business activity of the entities involved, Greenberg Traurig provided legal advice in several areas, including corporate, tax, and regulatory issues.
The multidisciplinary team was led by Senior Partner Lejb Fogelman and Partner Marek Kozaczuk, who were supported by Senior Associate Maciej Kacymirow. Partner Łukasz Pawlak and Senior Associate Małgorzata Paśnik were responsible for regulatory issues related to the transaction. Partner Ireneusz Matusielański and Senior Associate Karolina Dunin-Wilczyńska advised the Client with respect to capital markets issues. Of Counsel Prof. dr hab. Adam Opalski and Senior Counsel dr hab. Małgorzata Bednarek advised with respect to certain particularly complex legal issues related to the transaction.
ING Bank Śląski, part of ING Group, the Dutch multinational banking and services group, is the fifth largest bank in Poland in terms of assets, as at the end of first quarter of 2016. Its subsidiary, ING Securities, is a renowned and award-winning brokerage house, providing a variety of brokerage services to both individual as well as institutional clients.