The sale of Polskie ePłatności to Nets by Innova Capital and OPTeam

Rymarz Zdort advised Innova Capital and OPTeam in connection with the sale of Centrum Rozliczeń Elektronicznych Polskie ePłatności S.A. (“Polskie ePłatności”) to Rementi Investments S.A., a subsidiary of Nets A/S (“Nets”), a pan-European payment processing company based in Denmark.

The preliminary sale agreement was concluded on 11 March 2020. The value of the transaction is estimated at EUR 405 million. The transaction remains subject to approval by the relevant regulatory authorities and is expected to close in the third quarter of 2020.

The transaction will improve Nets’ offer for Polish merchants. Polskie ePłatności has a strong position in the segment of small and medium enterprises as regards card acceptance and POS terminals, and for this reason the transaction will substantially improve Nets’ position in Poland. Poland is considered to be one of the most attractive regions of Europe due to the dynamically increasing number of payment card users.

Polskie ePłatności is a Polish provider of card payment processing services. It is the third-largest payment card operator in Poland. It operates more than 125,000 POS terminals and offers a broad range of payment solutions.

Pawel Rymarz, a managing partner, led by the team together with Jacek Zawadzki, a partner in the Corporate/M&A department. The transaction team comprised Leszek Cyganiewicz (senior associate), Aleksander Jakubisiak (associate) and Michal Szczepanski (associate).

Monika Kierepa, a partner in the Corporate/M&A department, coordinated the work of the team conducting the vendor due diligence investigation of Polskie ePłatności group, which team included Marek Kanczew (counsel), Dr Barbara Skardzinska (senior associate), Tomasz Bakowski (senior associate), Szymon Cieniawski (associate), Arkadiusz Karwala (associate), Michal Kostewicz (associate), Weronika Szyszka (associate) and Piotr Stawowski (associate).

The Competition/Antitrust team provided advice under the supervision of Iwona Her, a partner and the head of the Competition/Antitrust practice, and Marcin Iwaniszyn, a partner in the banking & finance practice, advised on the financial aspects of the transaction.