Piotr M. Szelenbaum | White & Case LLP International Law Firm, Global Law Practice
Piotr M. Szelenbaum
Piotr M. Szelenbaum

Piotr M. Szelenbaum

Partner, Warsaw

T +48 22 50 50 106

T +48 22 50 50 100

E pszelenbaum@whitecase.com

in LinkedIn profile

“Piotr M. Szelenbaum is a highly experienced M&A and capital markets lawyer. Clients note that he is ‘very effective and commercial, and can very well express business matters in writing.’”

Chambers Global, 2014

Overview

Piotr supports clients with complex corporate law matters, with a particular focus on large-scale mergers and acquisitions (M&A) and capital markets transactions.

Ranked by leading professional guides as a recommended lawyer in these fields, Piotr's reputation and experience have attracted a client portfolio of major domestic and international banks, financial institutions and private and public companies, as well as the Polish State Treasury.

Regularly entrusted to handle major deals worth hundreds of millions, and often billions of euros, Piotr's clients' faith in his abilities is based on his significant track record, spanning a period of almost 20 years. Noted for the ease with which he navigates the most challenging and intricately structured of deals, he has been called upon to handle some of the most pioneering and groundbreaking transactions in Poland in recent years.

Only recently, he represented KI Chemistry s.à r.l. in connection with the acquisition of CIECH S.A., the leading European chemical company, in a deal worth approximately US $278 million. Other significant representations in the chemical industry include that of several Polish public companies, including Zakłady Azotowe Puławy, which he helped to defend against attempted hostile takeovers.

Piotr is also very active on the M&A front, having advised private equity funds (Advent International, Bridgepoint, Corilius, Enterprise Investors, Innova and Penta Investments) in connection with their investments and M&A transactions in Poland. He also represented various financial institutions (both Polish and international) in M&A transactions.

Other notable matters include mobile operator P4's landmark, dual-tranche high-yield bond issue, at the time the largest Central and Eastern European high-yield deal ever, the second largest European telecommunications debut ever and the first ever Polish zloty-denominated high-yield bond issue on the international capital markets.

Piotr also played a key advisory role in the Polish State Treasury's and Bank Gospodarstwa Krajowego's sale of its shares of PKO BP S.A., a PLN 5.2 billion (€1.2 billion) deal that was the largest accelerated book-building process in the history of the Polish capital market.

Bars and Courts

  • Legal Adviser, Regional Chamber of Legal Advisers in Warsaw

Education

  • Master, Faculty of Law and Administration, University of Warsaw

Languages

  • Polish
  • English

Experience

CIECH S.A., 2014

Represented KI Chemistry s.à r.l., a subsidiary of Kulczyk Investments S.A., in connection with the acquisition of a majority of shares in CIECH S.A., the leading European chemical company and the second largest producer of soda ash in Europe. The transaction was carried out by way of a tender offer for the acquisition of up to 66% of the issued share capital of CIECH S.A. The value of the transaction was PLN 835 million (US $278 million).

P4 sp. z o.o., 2014

Advised the Poland-based mobile telecoms operator on its groundbreaking, inaugural €870 million and PLN 130 million, dual-tranche high-yield bond issue and entry into a new super-senior revolving credit facility. At the time of the transaction, this was the largest debut high yield bond deal since 2010, the largest Central & Eastern Europe high yield deal ever, the second largest European telecommunications debut ever and the first ever Polish zloty-denominated high-yield bond issue on the international capital markets.

Zlomrex International Finance S.A., 2014

Represented the second largest seller of semi-finished steel products in Poland, as issuer in the restructuring of its approximately €118 million outstanding New York law-governed senior secured high-yield notes due 2014, which were exchanged by way of an English law Scheme of Arrangement for new senior secured notes, and exchangeable PIK notes issued by a new financing vehicle in the Cognor group.

PKO BP S.A., 2014

Represented Citi, Deutsche Bank and DM PKO BP acting as global coordinators and joint bookrunners and Credit Suisse, Banco Espírito Santo, Goldman Sachs, Ipopema Securities and Societe Generale as Joint Bookrunners in PLN 5.2 billion (€1.2 billion) accelerated book-build transactions involving a12.25% of the shares of PKO BP S.A., which were sold by the Polish State Treasury and Bank Gospodarstwa Krajowego. The transaction was the largest accelerated book-building process in the history of the Polish capital market.

UniCredit CAIB Poland S.A., 2014

Advised UniCredit CAIB Poland S.A., acting as sole bookrunner in a sale by the European Bank for Reconstruction and Development of a 5.63% equity stake in Zaklady Lentex S.A., one of the leading PVC floor coverings and non-wovens manufacturers in Poland, via an accelerated bookbuild offering to institutional investors.

Grupa Azoty S.A. 2012-2014

Advised Grupa Azoty in several projects, including Zakłady Azotowe Puławy’s defense against attempted hostile takeovers. He also advised the client in connection with the merger of Zakłady Azotowe Puławy with Zakłady Azotowe Tarnow-Mościce, creating one of the largest chemical companies in Europe.

Penta Investments, a.s., 2012

Advised the client in connection with the contemplated equity investment in NFI EMPIK Media & Fashion S.A.

The Polish State Treasury, 2011

Represented the State Treasury in the PLN 5.4 billion IPO of Jastrzębska Spółka Węglowa S.A. on the Warsaw Stock Exchange.

BSH Bosch and Siemens Hausgerate GmbH, 2010*

Advised the client in the contemplated acquisitions of Polish-based targets.

BRE Bank S.A., 2010*

Represented the client in its PLN 2-billion rights issue.

RWE and EDF, 2009*

Represented clients in the proposed acquisition of ENEA S.A. shares from the State Treasury, during the privatization process.

Innova, Bridgepoint, Advent International, Corilius and Enterprise Investors, 2007 – 2011*

Advised these private equity firms in connection with their investments and M&A transactions in Poland.

*Work undertaken prior to joining White & Case

Awards & Recognition

Leading Lawyer, Chambers Global and Chambers Europe, 2007 - 2014

Corporate/ M&A