Alior Bank and GE Capital Group have concluded an agreement in relation to the purchase of the demerged part of Bank BPH. The deal excludes the mortgage loan portfolio (in CHF, other currencies and Polish złoty) as well as BPH TFI. The acquisition of the demerged part of Bank BPH is in line with Alior Bank’s plans for development and will be an important step in the consolidation of the banking sector.
Greenberg Traurig was the transaction counsel for Alior Bank with Lejb Fogelman as a lead partner. Other partners involved in the deal were Steve Horvath who played the lead on the M&A part; Lukasz Pawlak leading the bank regulatory approvals; Michal Fereniec who was in charge of the IT (migration of the IT systems); Antoni Bolecki (counsel) heading the antitrust aspects; Ireneusz Matusielanski , Federico Salinas and Dorothee Fischer Appelt all in charge of the rights issue for Alior; and Marek Kozaczuk who was in charge of tax-related matters. The areas of expertise that were required for this transaction included: M&A, Tax, IT, Antitrust, Bank Regulatory, capital markets/securities.
This transaction is now widely recognized as the most complex transaction in the field of financial institutions M&A in Poland. It involved several complex parts that the Greenberg team welded together in order for the deal to go through.