BBH has advised the PPF Group on the merger of its Air Bank and Home Credit subsidiaries with Moneta Money Bank. Skils advised Moneta on its CZK 25.9 billion acquisition of the Air Bank Group.
The transaction remains contingent on regulatory approval.
According to Moneta Money Bank, "through the acquisition, Moneta will acquire 100% of Air Bank Group's shares from the PPF Group for a total purchase price of CZK 25.9 billion."
Founded in 1991, the PPF Group is an international investment group with operations in 25 countries across Europe, North America, and Asia. It focuses on financial services, telecommunications, media, real estate, mechanical engineering, and biotechnology.
Moneta Money Bank is a Prague Stock Exchange-listed bank. Its portfolio includes banking and financial services, insurance, building savings, investments, financing of cars, machinery, and other equipment.
"We are very pleased that the necessary majority of shareholders have agreed to the acquisition and its financing," Moneta Money Bank Management Board Chairman Tomas Spurny commented. "We believe that the acquisition of the Air Bank Group will create a strong Czech banking champion for entrepreneurs and retail customers in the domestic banking market. In this context, we will be a stable pillar of the Czech economy and an important competitor for other large banks operating in the Czech Republic, which control 70% of the domestic market. With this decision, we have created the basis for the realization of this vision."
The BBH team included Partners Petr Precechtel, Tomas Sedlacek, and Vladimir Uhde and Senior Associates Andrea Adamcova, Adam Necas, Tomas Johanna, and Kristyna Zivanska.
The Skils team was led by Partners Karel Muzikar, Karel Drevinek, and Pavel Grim and included Senior Associates Ivo Trojan, Vit Kropjok, and Adam Jaros.