Cases
Experience: Financial Services: Advised BNP Paribas SA acting as the Seller in the offering, through an accelerated bookbuilding process (ABB), of BNP Paribas Bank Polska S.A. shares. The value of the transaction was PLN 886 million.
Advised Allianz S.E. in connection with the EUR 2.5 billion acquisition of Aviva's Polish life
non-life insurance, pensions
asset management businesses,
51% stakes in life
non-life bancassurance joint ventures with Sant
er. The transaction completed in November 2021. Ongoing advice to Allianz regarding corporate
regulatory matters related to the integration
transformation of the Polish business.
Advised OANDA Global Corporation in the acquisition of Dom Maklerski TMS Brokers S.A., a leading Polish multi-asset class broker active in the FX
CFD segments.
Advised Societe Generale S.A. on the sale of Euro Bank S.A., its retail banking subsidiary in Pol
, to Bank Millennium S.A. The reference transaction price for the sale is PLN 1.83 billion. The transaction involved the sale of Euro Bank in the entirety, unlike other recent transactions in the Polish banking sector involving a demerger of the business separated from the foreign currency mortgage business of the bank,
it included unique risk sharing arrangements in respect of the Swiss Franc denominated mortgage loan portfolio of Euro Bank.
Advised BNP Paribas Group on its acquisition of the core banking operations of Raiffeisen Bank Polska from Raiffeisen Bank International for PLN 3.25 billion (approx. EUR 775 million). The transaction was implemented by a demerger of the transferred business directly to Bank BGZ BNP Paribas, BNP Paribas's Polish subsidiary, in November 2018. Also advised BNP Paribas Group on the related equity investment of PLN 430 million (approx. EUR 100 million) by the European Bank for Reconstruction
Development through the acquisition of a circa 4.5% stake in BGZ BNP Paribas from Raiffeisen Bank International AG
BNP Paribas SA.
Advised Deutsche Bank AG on the sale of its Polish private
commercial bank business to Sant
er Bank Polska (formerly known as Bank Zachodni WBK), in a transaction supported by Banco Sant
er, for approximately PLN 1.29 billion. The transaction was implemented by a demerger of the transferred business directly to Sant
er Bank Polska, in November 2018. The transaction was unique on the Polish market as the transferred business was directly migrated to the IT systems of Sant
er Bank Polska simultaneously with the completion of the transaction.
Represented Alior Bank in connection with the acquisition of Bank BPH's core business from affiliates of GE Capital. Value of the transaction was PLN 1.5 billion.
Represented AnaCap in connection with the acquisition of Nest Bank (formerly FM Bank PBP).
Advised BNP Paribas Group on the PLN 4.2 billion (EUR 1 billion) acquisition of the Polish Bank Gospodarki Zywnosciowej from the Rabobank Group, the merger of BGZ with BNP Paribas Bank Polska
the transformation
merger of Sygma Banque Pol
into Bank BGZ BNP Paribas.
Advised AIG on the disposal of its investment in Sant
er Consumer Bank (Pol
) to Sant
er Consumer Finance S.A.
Advised Raiffeisen Bank International AG on the EUR 490 million acquisition of a 70% share in Polbank EFG, the Polish banking business of the Greek bank EFG Eurobank.
Advised AIG on the disposal of its Polish consumer finance
banking business to a unit of Banco Sant
er,
the retention of a significant investment in their combined Polish businesses, in transactions valued in excess of USD 800 million.
Advised UniCredit on the spin-off of part of the business of Bank BPH into Bank Pekao
the EUR 625 million sale of UniCredit's remaining investment in Bank BPH to a unit of GE.
Represented Citibank in the USD 800 million acquisition of Bank H
lowy in Warsaw, Citibank
Bank H
lowy on the sale of their Polish asset management business to Legg Mason,
Merrill Lynch
the founding shareholders of Dominet Bank in the EUR 235 million sale of Dominet Bank to Fortis.
Real Estate
Commercial: Advised Volumetric Building Companies, one of the United States' largest multifamily volumetric modular
components businesses, on its merger with Polcom Group in Pol
, one of the leading international manufacturers of steel modular buildings. The Group has completed some of the most innovative hotel projects in North America
Europe, including world-class hotel buildings in New York, Seattle, London, Washington,
Amsterdam. The merger was effective in January 2022.
Advised Bricks Acquisitions Limited, a company controlled by The Goldman Sachs Group
funds advised by affiliates of Centerbridge Partners L.P. on the sale of 100% of the shares in Robyg S.A., the largest residential real estate developer in Pol
, to a subsidiary of TAG Immobilien AG, the listed German real estate company, for an estimated price of circa EUR 550 million. The transaction is expected to complete in the first half of 2022.
Advised the CCC Group in connection with a transaction that will result in two new minority investors becoming shareholders of eobuwie.pl S.A. - the leader in the online footwear market in Central
Eastern Europe. Cyfrowy Polsat S.A.
A&R Investments Limited, one of the shareholders of InPost S.A., signed conditional preliminary agreements regarding the sale of two 10% stakes in eobuwie.pl for PLN 500 million for each stake. The total value of the pre-IPO transaction is PLN 1 billion (approx. USD 254 million). The conditions precedent include consents of the banks funding the CCC Group
the eobuwie.pl general meeting for the sale of shares,
should be fulfilled by April 30th 2021 or by a later date that may be determined in accordance with the preliminary agreements. The transaction will provide eobuwie.pl with new
strong minority shareholders,
the CCC Group with funds in the amount of PLN 1 billion while it retains its majority shareholder status in the company. According to the CCC Group, proceeds from the sale are to be used for general corporate purposes, including refinancing of liabilities, additional financial security in the event of further restrictions related to the COVID-19 p
emic
a cash reserve necessary to acquire a 20% stake in eobuwie.pl from the current minority shareholder. The IPO of eobuwie.pl is planned for 2022 or 2023.
Advised Eltel AB, a leading Northern European provider of technical services for critical infrastructure networks, on the divestment of its German Communication business to Circet Group, a European telecom network service provider based in France
funded by private equity firm Advent. The total consideration payable under the transaction is about EUR 19 million. The transaction closed in April 2020.
Advised Madison International Realty LLP, a global real estate private equity firm, in the indirect acquisition of a 46.5% stake in the European Logistics Investment (ELI) platform, which owns a portfolio of Polish real estate worth approximately EUR 500 million, from Redefine Properties, a South African investment fund REIT. The transaction is the first major transaction for Madison in the logistics sector in Europe. The transaction value is EUR 150 million, including the initial stake plus future development. The transaction closed in March 2020.
Advised the WING Group, one of the largest privately-owned real estate companies in Hungary, specializing in office, industrial, retail, residential, hotel
special projects primarily in Budapest, in an agreement to acquire Lisala sp. z o.o. from Echo Partners B.V. Echo Partners is owned by affiliates of Oaktree
PIMCO,
through Lisala it holds 55.95% of the shares of Echo Investment S.A. Echo is the largest Polish developer,
is listed on the Warsaw Stock Exchange. The transaction closed in December 2019.
Advised Eltel AB, a leading Northern European provider of technical services for critical infrastructure networks, listed on Nasdaq Stockholm, on the sale of its Polish communication business to VINCI Energies. The total consideration is about EUR 12.7 million. The transaction closed in October 2019.
Advised Madison International Realty LLP, a global real estate private equity firm, in the indirect acquisition of a controlling, 65.99 percent stake in Capital Park S.A. from Patron Capital Partners. Capital Park manages a portfolio of properties with a total area of 304,000 square miles
is the developer of the ArtN complex in Warsaw.
Advised Forum IX Fundusz Invwestycyjny Zamkniety
other shareholders on the sale of Willson & Brown, a European manufacturer of point of sale displays with headquarters in Pol
, to Array Canada Inc., a Carlyle Group portfolio company, in 2018.
Advised CVC Capital Partners on the acquisition of Zabka Polska from Mid Europa Partners in 2017. The sale of Zabka is the largest transaction in the Polish food retail sector
the largest private equity exit in Pol
.
Advised Anheuser-Busch InBev on Polish aspects of the sale to Asahi Group Holdings, Ltd. of the businesses formerly owned by SABMiller Limited in Pol
, the Czech Republic, Slovakia, Hungary
Romania in 2017 for an agreed enterprise value of EUR 7.3 billion.
Advised Venture Fundusz Inwestycyjny Zamkniety, managed by TFI Trigon S.A., in connection with the acquisition of a noncontrolling stake in Seed Labs Inc., a U.S.-based start-up involved in the development of smart lighting.
Advised Central European Distribution Corp. (CEDC), at the time one of Europe's largest alcoholic-beverages firms, in acquisitions to exp
its business in Russia
Central Europe, including its co-investment with Lion Capital to acquire the Russian Alcohol Group,
the USD 600 million buyout of Lion to take control of RAG
the completion of a USD 310 million equity placement
USD 950 million high-yield bond offering by CEDC to fund the RAG transaction
the USD 250 million acquisition of the Russian wine
spirits importer Whitehall Group
the USD 200 million acquisition of the Russian producer of Parliament vodka
the financing
other aspects of its acquisition of Polmos Bialystok from the Polish State Treasury
the acquisition of the Polish operations of Bols.
Advised Baring Corilius Private Equity on the sale of a 56% stake in Poligrafia S.A., the listed Polish printing firm, to RR Donnelley.
Advised PepsiCo's snack-foods unit on the acquisition of Star Foods Romania
Star Foods Pol
from the founding family
private equity investors.
Media
Telecommunications: Advised Cyfrowy Polsat S.A.
Polkomtel sp. z o.o. ('Polsat Group') on the agreement to sell a 99.99% stake in Polkomtel Infrastruktura, a subsidiary of Polsat Group, to Cellnex Pol
sp. z o.o., a subsidiary of Cellnex Telecom S.A., Europe's leading operator of telecommunications infrastructure. The value of the transaction is over PLN 7 billion (EUR 1.6 billion). The deal is expected to be completed in Q4 2021. The transaction will result in a a long-term partnership between the Polsat Group
Cellnex in order to accelerate the deployment of 5G technology in Pol
, based on the concept of active
passive infrastructure sharing, building from the Polsat Group's 7000 sites. At completion, the Polsat Group
Cellnex will sign a Master Services Agreement under which Polkomtel Infrastruktura will provide services for 25 years (subject to renewal for subsequent 15-year terms).
Advised Cyfrowy Polsat, the Polish media group, in two transactions for the acquisition of Polkomtel, the operator of the Plus mobile network in Pol
. Cyfrowy Polsat acquired the majority of Metelem Holding Company Limited, the sole owner of Polkomtel, in exchange for Cyfrowy Polsat shares valued at PLN 5.15 billion (USD 1.7 billion),
the remainder from the European Bank for Reconstruction
Development in exchange for Cyfrowy Polsat shares valued at approx. USD 327 million.
Advised Polish media entrepreneur Zygmunt Solorz-Zak on the PLN 18.1 billion (USD 6.6 billion) acquisition of Polkomtel, Pol
's second-largest mobile network operator. The transaction was the largest leveraged buyout ever made in Pol
,
one of the largest transactions in the history of Central
Eastern European M & A.
Advised Cosmote, the mobile phone subsidiary of Greek telecom operator OTE, on the EUR 190 million sale of its Cosmofon business in the former Yugoslav Republic of Macedonia to Telekom Slovenije, the EUR 48 million acquisition of minority interests in Albanian Mobile Communication SH.A.
the EUR 380 million sale of its investment in Telekom Srbija.
Advised Central European Media Enterprises Ltd. (CME) on the USD 900 million acquisition of TV Nova in the Czech Republic.
Energy
Chemicals: Represented Polska Grupa Energetyczna S.A. (formerly PSE S.A) on financing, corporate, contract
project development matters.
Advised PGNiG S.A., the Polish oil
gas company, on its corporate
financial restructuring, including restructuring of the company's debt prior to its IPO.
Advised PKN Orlen S.A., the largest petrochemicals concern in Pol
, on several financings
potential mergers
acquisitions.
Advised the governments of Romania
Ukraine on the development of regulatory systems
privatisation strategies for the electric power sector.
The above representations were h
led by Mr. Horvath prior to his joining Greenberg Traurig, LLP.
Previous Experience: Partner, Dewey & LeBoeuf LLP, 2002-2012
Executive Partner, 2012
Head of London M&A Practice, 2007-2012
Partner, Hunton & Williams LLP, 1992-2002
Associate, Hunton & Williams LLP, 1985-1992
