We are pleased to announce that we acted as sole legal advisor to Erste Group Bank AG and Erste Asset Management GmbH on a transaction whereby Erste Asset Management GmbH, Erste Group’s asset management platform, acquired control over Erste Towarzystwo Funduszy Inwestycyjnych S.A. (Erste TFI).
Erste Group entered the Polish market in January 2026 through the acquisition of a controlling 49% stake in Santander Bank Polska (now Erste Bank Polska) and a 50% stake in Santander TFI (now Erste TFI). Rymarz Zdort Maruta also advised Erste Group on that transaction.
As part of the transaction, Erste Group Bank AG transferred its 50% stake in Erste TFI to Erste Asset Management GmbH, while Erste Bank Polska S.A. sold one share in Erste TFI to Erste Asset Management GmbH.
As a result, Erste Asset Management GmbH became the majority shareholder of Erste TFI. The transaction was completed on 15 October 2026, following the issuance of a decision of no objection by the Polish Financial Supervision Authority (KNF).
“We are pleased that Erste Group has once again entrusted us with the role of legal advisor. The key to this transaction was the combination of two elements: a carefully structured corporate arrangement and the efficient handling of regulatory proceedings before the KNF. Our team was responsible for both aspects,” said Jacek Zawadzki, partner in the M&A practice, who led the Rymarz Zdort Maruta transaction team.
The team also comprised Hanna Szczepańska-Rowicka (associate) and Aleksander Jakubisiak (senior associate). The regulatory proceedings before the KNF were handled by Dr Łukasz Karasek (counsel), and Julia Kosiniak (associate).
