White & Case Advises Nets on First Successful Application in Poland for Control of Foreign Investment
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Global law firm White & Case LLP has advised Nets, a leading company in digital payments and related services, and its owner, the private equity fund Hellman & Friedman, on a successful application to obtain the first positive decision in Poland on the control of foreign investment issued by the President of the Competition and Consumer Protection Office.
White & Case partner Marcin Studniarek, who co-led the Firm's deal team, said: "This was the first successful application of its kind submitted in Poland, and demonstrates our expertise and capabilities advising clients on the new foreign direct investment regulations."
The application was submitted on behalf of Nets to finalize its acquisition of Centrum Rozliczeń Elektronicznych Polskie ePłatności S.A. (PeP). White & Case previously advised Nets on its acquisition of Centrum Rozliczeń Elektronicznych Polskie ePłatności S.A. in March 2020, as well as its strategic alliance with Przelewy24 in 2019 and its acquisition of the Polish online payment service providers Dotpay/eCard in 2018.
The new regulations on the control of foreign investment in Poland came into force on July 24, 2020, along with the introduction of the crisis shield 4.0 regulations. The aim of these regulations is to protect Polish companies from takeovers by foreign investors during the Covid-19 pandemic.
The White & Case team in Warsaw which advised on the transaction was led by partner Marcin Studniarek and local partner Marek Sawicki and included counsel Jakub Gubański and associates Iwo Małobęcki and Maciej Gac.
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