Bank Pekao acquires a 38.33% stake in Krajowy Integrator Płatności

Rymarz Zdort advised Bank Pekao S.A. (the “Bank”) on the acquisition of a 38.33% stake in Krajowy Integrator Płatności S.A. (“KIP” or the “Company”).

KIP, the operator of the Tpay.com system, is a dynamically developing company with an established position on the Polish market of processing payments in the online sales channel. Thanks to this transaction, the Bank, by forming a strategic partnership in the e-commerce market, will provide to its corporate clients a fully comprehensive payment acceptance offer, supplemented by products intended for the dynamically growing e-commerce market.

The acquisition by the Bank of a strategic stake in KIP is an important leap towards the achievement by the Bank of its strategic objectives concerning digital transformation and digitalisation.

The preliminary share purchase agreement was executed on 21 December 2020. The closing of the transaction, planned for the end of the first quarter and the beginning of the second quarter of 2021, is conditional on the Polish Financial Supervision Authority (KNF) not objecting to the acquisition of the shares in the Company by the Bank.

The firm’s transaction team was headed by Dr hab. Łukasz Gasiński, an attorney-at law and a partner in the corporate department, Marzena Iskierka, an attorney-at law and an associate in the corporate department, and Jacek Zawadzki, an attorney-at law and a partner in the corporate department. The team also included Monika Kierepa, an attorney-at law and a partner in the corporate department, who coordinated the work of the team that conducted the due diligence of KIP.