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Allen & Overy Advises on OTP Banka Hrvatska Purchase of Banco Popolare’s Branches in Croatia


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Allen & Overy has advised OTP Bank on the purchase by its Croatian subsidiary OTP Banka Hrvatska of 98.4% of Italy-based Banco Popolare’s branches in Croatia for HRK 107 million.

The transaction expands OTP Banka Hrvatska’s network in Croatia by 33 branches and 30 ATMs, to a total of 130 branches overall and more than 250 ATMs.

Banco Popolare Croatia is Croatia’s 14th-biggest bank in terms of assets, with total assets of HRK 2.3 billion as at end 3Q 2013, almost 54,000 clients, and more than 2% share of the Croatian retail consumer lending market. After completion of this deal, OTP Banka Hrvatska will have some 440,000 clients, and will add the acquisition’s capital stock to its own assets of some HRK 14.1 billion as at end 3Q 2013. Allen & Overy was the sole legal advisor to OTP Bank in the deal.

The Allen & Overy deal team was led from the regional M&A practice headquarters in Budapest by Partner Hugh Owen, Head of Allen & Overy's South Eastern Europe Desk. He was assisted in the transaction by Budapest-based Associates Marton Eorsi and Attila Komives.

Of the deal, Owen commented: “We are pleased and proud to have advised OTP Bank on this strategic move by one of its key regional subsidiaries to expand its presence in the very promising Croatian market. OTP Bank has a strong and capable M&A team and the negotiations were cordial and sensible. This successful outcome confirms and vindicates our strategy of supporting major entities and sectoral trends across CEE/SEE from our Budapest hub, and we are glad to be able to advise one of Hungary’s most important companies in their own regional ambitions."

Croatian Knowledge Partner

Čipčić-Bragadin Mesić & Associates is one of the leading law firms in Croatia that serve companies, credit & financial institutions and public entities. We have been recommended and recognized as the legal experts and service leaders by many leading international legal guides for more than 15 consecutive years. With roots dating from 1928. we now probably have more tradition, experience and market presence than almost any other law firm in Croatia. We work closely with the leading international law firms and consultants so we’re able to manage complex, cross-border projects and deals seamlessly and successfully. Around 85% of our clients are international enterprises doing business in Croatia. List of our clients include some of the world-renowned companies such as Amazon Europe Core, China Machinery Engineering Corporation, Tate & Lyle, Nafta a.s., Unilever Croatia, Unilever Hungary, Lenovo, Innoenergy CE, Flixmobility, Flixbus CEE South, Okoenergie Group, CTC Holding, Bunge Limited, Chipita, Rolls-Royce, Canvas Holidays, Vacalianselect, Redgate Software, Red gate Investment, Yahoo!, Aston Martin Lagonda, Domino Printing UK, Domino Printing Sciences, Goldman Sachs, Deutsche Bank, Barclays Bank, HSBC, State Street Bank, Citigroup Global Markets, Credit Suisse, Bank of America Merill Lynch, Standard Chartered, Och-Ziff Capital Management, Amundi Asset Management, Altima International, Red Arc Global Investments, SMBC Nikko Capital Partners, Royal Bank of Scotland, Morgan Stanley International, J.P. Morgan group, Allianz Global Investors, Schroders, Macquarie Bank, Digital Finance International, Winton Capital Management, Citibank, Invesco Asset Management Österreich, Croatian Pension Investment Company, Unicredit Bank AG etc. We enjoy learning about our clients’ businesses and want to understand them completely so we can provide the best possible and complete service.

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Firm's website: cipcic-bragadin.com


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