WARSAW – 28 May 2025 – Greenberg Traurig advised VeloBank S.A., its holding company and its shareholders, including funds affiliated with Cerberus Capital Management, L.P. (Cerberus), on the Polish law aspects of Velobank’s agreement with Citibank Europe PLC and Bank Handlowy w Warszawie S.A. (BHW) to acquire BHW’s consumer business in Poland.
The agreement is conditional upon regulatory consents and other customary conditions precedent with completion expected in mid-2026.
Greenberg Traurig provided Polish legal advice to VeloBank S.A. and its shareholders with respect to the transaction.
The M&A Team was co-led by Partners Łukasz Pawlak and Stephen Horvath and included Local Partner Maciej Pietrzak, Local Partner Michał Bobrzyński and Senior Associate Agata Del-Rosal Iżyk.
Senior Partner Lejb Fogelman provided strategic advice on the transaction.
The team advising on corporate aspects of the transaction included Deputy Managing Partner Michał Fereniec, Senior Associate Wiktor Zień, Associates: Adam Anduła, Piotr Brzostek, Michał Kuratowski, Szymon Świerszcz, Kamil Nagawski, and Junior Associates: Patrycja Knerek, Weronika Kopeć and Barbara Tumm. Partner Rafał Sieński, Local Partner Mateusz Zaleński and Senior Associate Grzegorz Socha, provided advice on securities law matters. Counsel Mateusz Koronkiewicz provided advice on banking matters. Partner Robert Gago and Senior Associates Anna Celejewska-Rajchert and Filip Drgas advised on competition matters. Partner Anna Hałas-Krawczyk along with Senior Associate Natalia Wołkowycka and Associate Marta Popławska were responsible for the employment aspects of the transaction. Local Partner Maciej Kacymirow, Of Counsel Marek Kozaczuk and Senior Associate Mateusz Rogulski provided tax advice. The team was also supported by Senior Associate Izabela Żmijewska, Associate Bruno Jasic and Junior Associates: Ewa Głowacka and Damian Kossakowski.
“This transaction is undoubtedly one of the most significant in the Polish banking sector in 2025 to date. It reflects the continued confidence that leading financial institutions place in Greenberg Traurig’s ability to navigate complex, high-value transactions. We are honored to have played a pivotal role in a project that further shapes the evolving landscape of the Polish and regional financial services market,” said Lejb Fogelman, Senior Partner at the Greenberg Traurig Warsaw Office.
“We are proud to have advised Velobank and Cerberus on this milestone transaction, which highlights the importance of developing in-depth market knowledge and strong, trusted relationships. The scale and complexity of this project speak to the strength of our client’s vision and ambition, and reinforce our firm’s reputation as a leading advisor on transformational deals in the financial services sector,” said Stephen Horvath, Partner in the Warsaw M&A Practice.