CMS has advised long-standing client OTP Group on its acquisition of Societe Generale’s Croatian bank, Splitska Banka, and its leasing and insurance subsidiaries. Jones Day Paris was lead counsel to Societe Generale, with Schoenherr Zagreb advising on Croatian matters.
According to OTP Bank, the acquisition of Splitska Banka, the fifth largest bank in Croatia, valued at an enterprise value of EUR 480 million, will increase OTP’s share of the Croatian market to about 10 percent. The deal is expected to be completed in the summer of 2017 upon receipt of all regulatory and competition approvals.
CMS's transaction team was led by Partner Eva Talmacsi, with support from Senior Associates Zoltan Poronyi, Peter Toth, Eszter Kalman, and Anna Burchner, Senior Counsel Gabor Gelencser, Associate Szabolcs Szendro, and lawyer Jason Todd. CMS's Zagreb team consisted of Partners Hrvoje Bardek, Jelena Nushol, and Tamara Jelic Kazic, Attorney Marija Zrno, and Associates Mia Kalajdzic and Ana Erceg.
Schoenherr's Zagreb-based team consisted of Attorneys Ivan Einwalter, Vice Mandaric, and Dina Vlahov Buhin.