White & Case Advises Nets on Acquisition of Centrum Rozliczeń Elektronicznych Polskie ePłatności
1 min read
Global law firm White & Case LLP has advised Nets on its acquisition of Poland-based Centrum Rozliczeń Elektronicznych Polskie ePłatności S.A. (PeP), a leading Polish merchant acquirer, for an enterprise value of €405 million.
The sellers are Innova Capital, OPTeam and management. The acquisition is subject to approval by the relevant authorities and closing is expected in the third quarter of 2020.
"This is yet another transaction handled by White & Case for the Nets Group," said White & Case partner Marcin Studniarek, who co-led the Firm's deal team. "We previously advised Nets on the acquisition of Polish e-payment leader Dotpay/eCard – a record-setting transaction in the Polish fintech market. We also advised Nets on its strategic alliance with PayPro S.A.-operated Przelewy24, and on its acquisition of Poplatek Oy and Poplatek Payments Oy in Finland."
Nets is a leading company in digital payments and related services in the Nordic countries and one of the largest European companies providing payment-related services and providing services to paying agents and payment service providers. The PeP Group provides merchant acquiring services with an installed base of more than 125,000 point-of-sales terminals, offering a broad set of payment solutions for SME merchants. PeP has more than 600 employees and expects net revenues of around €55 million in 2020.
The White & Case team which advised on the transaction was co-led by partners Marcin Studniarek (Warsaw) and Richard Jones (London) and local partner Marek Sawicki (Warsaw), and included counsel Jakub Gubański and Małgorzata Paśnik (both Warsaw) and associates Karolina Kałucka, Małgorzata Herda, Iwo Małobęcki, Radomir Szewczuk (all Warsaw) and Jessica Sullivan (London).
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