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The first half of 2025 is already over – for Rymarz Zdort Maruta, it was a time of many challenging transactions.

The best indicator of our law firm’s position in the M&A market is our ranking in the latest edition of “Global and Regional M&A Rankings 1H25 – Legal Advisors” published by Mergermarket.

We are delighted to announce that Rymarz Zdort Maruta has maintained its top position among law firms in Poland, securing first place in terms of the number of deals and second place in terms of transaction value after having advised on 12 deals valued at almost USD 8.4 billion.

As for the entire Central and Eastern Europe region, Rymarz Zdort Maruta is in second place in terms of the value of transactions recognised by Mergermarket.

During the first half of 2024 we advised, among others:

• Erste Group on the record-breaking acquisition of a 49% stake in Santander Bank Polska and a 50% stake in Santander Towarzystwo Funduszy Inwestycyjnych from Banco Santander, for a total cash consideration of EUR 7.0 billion;
• Bank Handlowy w Warszawie, in connection with the sale of the retail banking segment to VeloBank;
• Innova Capital in connection with the acquisition of 100% of the shares in the companies forming the corporate part of the Punkta Group;
• BEST on the largest-ever merger on the debt management market in Central and Eastern Europe – i.e. the merger of BEST and Kredyt Inkaso;
• Innova Capital on the acquisition of a majority stake in ProService Finteco., a leading provider of fund management solutions, and a 50% stake in Investment Funds Depositary Services,
• XXXLutz on the acquisition of the Polish furniture group Black Red White;
• Vectra in connection with the spin-off of part of the telecommunications networks of the Vectra capital group to Elsat and the sale of 100% of the shares in Elsat to Polski Swiatlowod Otwarty
• Symfonia on the acquisition of inEwi;
• GIA Investments on the conclusion of a preliminary agreement for the sale of 100% of the shares in five entities to MJM Holdings “MJM Group”;
• Finnish energy group Fortum on the conclusion of an agreement for the acquisition of Orange Energia.
• LuxVet Group on raising funding from new investors.

For more info on our most recent deals, please see here.

It is also worth noting that we are among law firms with the most concluded client matters (20), as reported by CEE Legal Matters, in Poland in the first half of 2025. The editorial team also recognized individual lawyers from Rymarz Zdort Maruta: Jacek Zawadzki and Iwona Her.

Jacek has advised on, and led our team in connection with, six transactions with a value of nearly eight billion euros. Notably, this includes the record-breaking acquisition of a 49% stake in Santander Bank Polska and a 50% stake in Santander Towarzystwo Funduszy Inwestycyjnych from Banco Santander. This transaction is the largest transaction in the Polish market to date by value, and also represents the largest cross-border M&A in the European banking sector in the past 21 years. Additionally, Jacek has advised: Innova Capital on the acquisition of Punkta Group and on the acquisition of a majority stake in ProService Finteco; Symfonia on the acquisition of inEwi, and Vectra Group on a preliminary agreement for the sale of 100% of the shares in Elsat to Polski Światłowód Otwarty (PŚO). He also provided legal advisory services to Bank Handlowy w Warszawie in connection with the sale of the retail banking segment to VeloBank.

We also wish to highlight Iwona Her’s activity. Iwona is a cornerstone of our Competition/Antitrust practice. She is responsible for providing antimonopoly advice and is personally involved in the majority of the firm’s transactions.

All covered deals are available here.

We’ve had a very strong start to the year in terms of transactions! We are sincerely grateful to our clients for the trust they continue to place in us. These recognitions are not only a reflection of their satisfaction, but also a testament to the commitment, expertise, and passion of our remarkable team. It is an honour to support our clients in achieving their goals, and we remain dedicated to delivering legal services of the highest quality.

Thank you! 

We are pleased to announce that Katarzyna Łukaszewicz has been serving as a co-head partner of the Financial Regulatory practice at our law firm. Katarzyna is an attorney with over 14 years of experience who specialises in financial sector regulations, M&A transactions and corporate law. She has been with Rymarz Zdort Maruta since 2010.

“This is not only a great opportunity for me, but also a great pleasure to co-head the Financial Regulatory practice of Rymarz Zdort Maruta. I would like to thank my colleagues at the firm for their support, especially Łukasz Gasiński for the trust he places in me every day. I am very grateful for this opportunity to develop and advance,” says Katarzyna Łukaszewicz, partner.

Katarzyna advises local and foreign financial institutions on mergers and acquisitions, as well as on complex deals with challenging regulatory aspects. In addition, she supports clients in navigating regulatory challenges related to regulated activities in the financial sector. Katarzyna independently led key regulatory and corporate work streams in most of the recent M&A transactions in the banking sector in Poland. In particular, she was responsible for advising on the regulatory and corporate aspects of the demerger of Bank BPH S.A. (GE Group), the demerger of Raiffeisen Bank Polska S.A. and its subsequent cross-border merger with Raiffeisen Bank International AG, the merger of Rabobank S.A. with Bank BGZ S. A. (now BNP Paribas S.A.), and the first mortgage bank split in Poland, i.e. mBank Hipoteczny S.A. Katarzyna has led almost all the processes that have taken place in Poland in which banks integrated their subsidiary brokerage houses into their operations. Starting with the very first, pioneering and successful project in 2014, she went on to subsequently complete five similar projects. She has supported financial institutions in dozens of complex proceedings before the Polish Financial Supervision Authority, helping clients to obtain regulatory approvals and licences enabling them to commence regulated activities.

“Kasia’s promotion is a special moment of joy and pride for me in the nearly 15 years we have worked together. Kasia possesses a unique combination of qualities that make her an exceptional lawyer. She is extremely intelligent, professional, committed and quick to act. She is a veritable volcano of energy adored by clients. Together we have achieved many successes, and we are particularly proud of having built a regulatory practice from scratch. It is now one of the strongest in the market, and Katarzyna’s contribution to this success has been invaluable. Once again, I would like to thank Kasia for the years of cooperation, for which I am very grateful. I also believe that together we will achieve even more success than we have thus far. Kasia, my sincere congratulations on your promotion!” – says Łukasz Gasiński, who until Katarzyna’s promotion was the sole managing partner of the Financial Regulatory practice at Rymarz Zdort Maruta.

The fourth edition of the Legal Summit powered by Rymarz Zdort Maruta, an event organised as part of Digital Dragons Conference 2025, one of the largest conferences of the gamedev sector in Central and Eastern Europe, will take place on 18-19 May 2025 in Kraków, Poland.

Who the event is for:

The Legal Summit is a must-attend for anyone interested in the legal and business complexities of the video game sector. It is where the law meets the realities of a rapidly evolving industry – both in local and international contexts. Speakers will include prominent specialists from various jurisdictions and gamedev areas, including Jari-Pekka Kaleva (European Game Developers Federation), Gaetano Dimita (Queen Mary University of London), Mariusz Gąsiewski (Google), Magdalena Oracz (Roboto Global), Kuba Jankowski (CD PROJEKT RED), Philip Wildman (GG Incurances Services) and many others.

The substantive programme of the Legal Summit is overseen by Michał Pękała, partner, who heads the Video Games & Entertainment team at Rymarz Zdort Maruta.

What distinguishes the Legal Summit:

• Overview of current trends: during the panels, experts will explore the latest legal trends in the gamedev sector, addressing topics such as copyright, artificial intelligence, industry relations between developers and publishers, investment strategies, development processes, data protection and e-commerce.
• Networking and experience sharing: The Summit will provide participants with the opportunity to exchange their experiences in the sector with each other, make new contacts, and learn about other perspectives, benefiting both companies and law firms in the sector.
• International line-up of speakers: renowned industry lawyers and experts from Poland, Europe and the United States will share their perspectives on legal and business issues related to game development.

You can find more information and the programme of the Legal Summit on the event website.

Do you have any questions? Write to us at: rzm.digitaldragons@rzmlaw.com

See you in Kraków!

The Legal 500 Europe 2025 ranking has confirmed Rymarz Zdort Maruta’s position as a leading law firm in Poland. This year we were recognised in 16 areas, and individual distinctions were awarded to 25 lawyers, including 8 individuals who were awarded distinctions for the first time.

Our firm was recognised as Tier 1 in seven practices areas: corporate law, mergers and acquisitions; private equity; TMT; restructuring and insolvency; data protection; energy; and dispute resolution.

We were classified as Tier 2 in the following practice areas: banking and finance; antitrust; business criminal law; capital markets; life sciences; real estate; and public procurement.

In addition, our tax law practice was recognised as Tier 3 and our intellectual property practice as Tier 4, and we appeared on the ‘Firms to Watch’ list in the construction category.

The following individuals were also recognised:

Managing partners Paweł Rymarz and Paweł Zdort were listed in The Legal 500 ‘Hall of Fame’ in the area of corporate law, mergers and acquisitions, and were each named a ‘Leading Individual’ in the private equity category. In addition, managing partner Magdalena Pyzik-Waląg was named a ‘Leading Individual’ in respect of restructuring and insolvency.

Partners Marcin Maruta in the area of TMT, Bartłomiej Wachta in the area of public procurement, Marek Durski in the area of energy, Iwona Her in the area of competition protection, Zofia Frydrychowicz in the area of banking and finance, Michał Czarnuch and Tomasz Kaczyński in the area of healthcare and life sciences, Krzysztof Sajchta and Łukasz Żak in the area of dispute resolution, and Marcin Serafin in the area of data protection were all recognised as ‘Leading Individuals’.

The following partners were classified as ‘Next Generation Partners’: Piotr Fedorowicz in respect of real estate, Piotr Kalina and Paweł Tobiczyk in respect of data protection, Filip Leśniak in respect of capital markets, Michał Pękała, LL.M. in respect of TMT, Jacek Zawadzki and Dr Jakub Zagrajek, CFA in respect of corporate law, Marcin Pieklak in respect of healthcare and life sciences, and Dr Jakub Rachwol in respect of banking and finance.

Maria Szczepańska in the area of business criminal law, Małgorzata Deruś in the area of private equity and Jakub Kowal in the area of TMT were recognised as ‘Leading Associates’.

In the ‘Other Key Lawyers’ category, the following lawyers were recognised: Marek Kanczew, Karolina Bąkowska, Paulina Cieślak, Marcin Gruszka, Aleksandra Kabać, Dr Paweł Mazur, Michał Milewski, Diana Sofu, Małgorzata Banaszkiewicz, Aleksander Jakubisiak, Mateusz Palian and Adrian Więsław.

We would like to thank our clients for their trust and recommendations and wish to congratulate all of the distinguished lawyers and teams on their outstanding achievements.

We are excited to announce that eight of our partners have been listed by IFLR1000 as being among the best legal advisors in Poland. These rankings were bestowed in three individual categories: “Market Leaders,” “Highly Regarded” professionals and “Notable Practitioners”.

Both managing partners, Paweł Rymarz and Paweł Zdort, have been awarded the title of “Market Leader” with respect to M&A and Private Equity. Additionally, Paweł Rymarz has been listed as a “Market Leader” in the Capital Markets (Equity) and Restructuring & Insolvency areas. The designation “Market Leader” is IFLR1000’s highest distinction and is reserved for lawyers that are not only leaders in their particular areas of expertise, but who have also advised on innovative deals of particular significance for the economy.

Furthermore, five Rymarz Zdort partners have been recognised as “Highly Regarded”, a title granted to professionals possessing a strong transactional record and consistently receiving positive peer and client feedback. Those include:

• Ewa Bober – Capital Markets (Equity) and M&A;
• Marek Durski – Project Development and M&A;
• Zofia Frydrychowicz – Banking, Capital Markets (Debt), and Real Estate Finance;
• Dr hab. Łukasz Gasiński – Capital Markets (Equity), Private Equity, and M&A;
• Iwona Her – M&A.

IFLR1000 has also recognised Monika Kierepa as a “Notable Practitioner” in the Capital Markets (Equity) and M&A fields. This title is awarded to individuals possessing a track record of advising on significant deals on the Polish market and in particular practice areas.

Apart from individual recognitions, Rymarz Zdort has also received top rankings in seven practice areas, namely: M&A, Capital Markets (Debt), Capital Markets (Equity), Banking, Project Development Power, Project Development Infrastructure, and Project Finance.

We are proud of these achievements and would like to thank our clients for their continued trust and positive feedback We would also like to congratulate all of the attorneys that have been recognised and those who contributed towards the recognition of the above-mentioned practice areas. Outstanding work!

More on this year’s IFLR1000 ranking results (edition 2022) can be found here: link

Rymarz Zdort is pleased to announce that in the latest IFLR1000 ranking, it was once again recognised as one of the best law firms in Poland, being recognised in Tier 2 in the Banking & Finance practice.

2021 was a very dynamic year for our team – says Zofia Frydrychowicz, co-head of Rymarz Zdort’s Banking & Finance practice. We were involved in various spectacular transactions, such as the financing of the acquisition of 100% of the shares in CEDC International by Maspex Group and the financing of the acquisition of Luxembourg-based Moventum by ProService Finteco.

We also supported clients from the renewable energy sources sector, such as Aberdeen Standard Investments and a consortium of lenders on the complex financing of a portfolio of 140 photovoltaic farms. It was a very busy and demanding year, but thanks to our clients’ trust and our commitment towards projects, it turned out to be a very successful year – summarises Dr Jakub Rachwol, co-head of Rymarz Zdort’s Banking & Finance practice.

Rymarz Zdort was also recognised in Tier 3 in the Project finance category of this year’s IFLR1000 ranking. We are also delighted to add that Zofia Frydrychowicz has been recognised in the Women Leaders 2022 category.

Congratulations to all of the lawyers and teams that received recognition.

We would also like to take this opportunity to thank our clients – your positive feedback has always served as our greatest distinction.

Please visit IFLR1000 to find out more: IFLR10002022

The Legal 500 Europe 2022 rankings confirm the position of Rymarz Zdort as one of the leading law firms in Poland. We have been recognised as a top-tier law firm in four practice areas: Capital Markets; Commercial, Corporate and M&A; Energy & Natural Resources; and Private Equity.

Moreover, our firm has been ranked in Tier 2 in the following categories: Competition / Antitrust; Restructuring & Insolvency; Tax; White Collar Crime and Dispute Resolution.

Our Banking & Finance and Real Estate practices have each been ranked in Tier 3.

Eight Rymarz Zdort attorneys have also been nominated as being among the best legal advisors in Poland. Managing partner Paweł Rymarz has been listed in The Legal 500 “Hall of Fame” with respect to Commercial, Corporate and M&A, and has again been included on the elite “Leading Individuals” list for Private Equity. Moreover, managing partner Paweł Zdort, who is ranked for Commercial, Corporate and M&A, and Private Equity; partner Dr Filip Uziębło, ranked for Private Equity; partner Ewa Bober, ranked for Capital Markets; and partner Robert Krasnodębski, who is ranked for Tax, have all been recognised as “Leading Individuals”.

Three partners have been listed as “Next Generation Partners” in their respective practice areas, i.e. Magdalena Pyzik-Waląg, Restructuring & Insolvency; Marcin Iwaniszyn, Banking & Finance; and Marek Durski, Energy & Natural Resources.

We would like to thank you, our clients, for your trust and recommendations. Congratulations to all of the recognised attorneys and practices for their outstanding achievements and hard work.

We are pleased to announce that Dr Adam Puchalski, counsel, and Dr Łukasz Karasek, senior associate, are joining the regulatory practice of Rymarz Zdort on 19 April 2022. Our new lawyers have gained their rich transactional experience working for law firms and as managers in the legal departments of financial sector institutions.

“For many reasons, I am delighted that Adam and Łukasz are joining our team. We focus on difficult and often groundbreaking transactions that require the involvement of many lawyers with outstanding competences. Adam and Łukasz have such competences. I know it because I have already worked with them on many occasions. They are excellent lawyers and high-class specialists. Obviously, they will be a great support for our transactional and regulatory dream team. I also count on their legislative expertise, knowing that Łukasz and Adam have supported several organisations in their legislative work, including the Polish Bank Association (Związek Banków Polskich),” says Dr hab. Łukasz Gasiński, partner heading the regulatory practice of Rymarz Zdort.

Adam Puchalski is an attorney-at-law with many years of experience in corporate matters, equity and debt capital markets law, M&A transactions, and financial sector regulatory issues. His experience includes advising on the largest and most complex M&A transactions in the Polish banking sector. Adam has participated in the largest and most prestigious initial and secondary public offerings of shares and public offerings of bonds. He has provided advice to a variety of institutions in respect of regulatory matters and proceedings before the Polish Financial Supervision Authority. He is the author of several publications, including the only Ph.D. dissertation in Poland on tender offers for shares in public companies, later published as a monograph. Before joining Rymarz Zdort, he held the positions of Director of Legal Projects and Director of Strategic Projects at Bank Pekao S.A., and has also worked for GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k.

Łukasz Karasek is an attorney-at-law specialising in regulatory issues and financial markets law. During his work for the Polish Financial Supervision Authority, he was responsible for the implementation of key legal regulations relating to the capital and banking markets into the Polish legal system. His doctoral studies focused on regulatory and compliance issues. Before joining Rymarz Zdort, he worked for Bank Pekao S.A., Grupa Allianz and GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k.

“As we join Rymarz Zdort, we are facing new challenges, and we look forward to working on interesting projects and having an opportunity to create a wide-ranging offer of services for our clients. We are proud to be able to join one of the best regulatory law firms serving the financial sector. We hope that our previous experience will make a valuable contribution that will expand Rymarz Zdort’s competence in this area,” says Dr Adam Puchalski.

Welcome on board and good luck!

In this year’s edition of the Chambers Europe 2022 legal ranking, Rymarz Zdort has again been listed among the best law firms in Poland.

Distinctions were awarded in the following categories:

Corporate/M&A: High-end Capability – Band 1

Capital Markets: Equity – Band 1

Private Equity – Band 1

Banking & Finance – Band 3

Competition/Antitrust – Band 3

Energy & Natural Resources – Band 3

Restructuring/Insolvency – Band 3

Tax – Band 3

Dispute Resolution – Band 5

Individual recognitions were also given to the following Rymarz Zdort lawyers:

Paweł Rymarz

Capital Markets: Equity – Eminent Practitioners, Corporate/M&A: High-end Capability – Eminent Practitioners

Paweł Zdort

Capital Markets: Equity – Band 1, Corporate/M&A: High-end Capability – Band 1, Private Equity – Band 1

Marcin Chylinski

Capital Markets: Equity – Band 1

Robert Krasnodębski

Tax – Band 1

Marek Durski

Energy & Natural Resources – Band 2

Ewa Bober

Capital Markets: Equity – Band 3

Filip Uziębło

Corporate/M&A: High-end Capability – Band 3, Private Equity – Band 4

Iwona Her

Competition/Antitrust – Band 3

Karina Aust-Niewiadomska

White-Collar Crime – Band 3

Łukasz Gasiński

Corporate/M&A: High-end Capability – Band 4

Magdalena Pyzik-Walag

Restructuring/Insolvency – Band 4

Marcin Iwaniszyn

Banking & Finance – Band 5

Zofia Frydrychowicz

Banking & Finance – Band 5

“2021 presented a number of exciting challenges for our law firm. We had the pleasure of working on the largest M&A transactions in Poland and Europe, were involved in some spectacular IPOs and assisted clients in landmark arbitration cases. We owe our success to the clients we have advised for years and to our Rymarz Zdort teams, who have given their best. I would like to thank everyone involved” – summarised Paweł Rymarz, managing partner.

More information is available on the website of the organiser of the Chambers and Partners ranking at: Chambers Europe 2022.