CMS and Turzan Cazac have advised the OTP Bank Group on the acquisition of 87.85% of shares in Mobiasbanca from the Societe Generale group. Schoenherr, working with lead counsel Jones Day, advised Societe Generale on the sale.
Mobiasbanca is the fourth largest bank in Moldova with a market share of 13.3%. The transaction is expected to close in the coming months pending regulatory and merger clearance approvals.
According to CMS, this transaction is the continuation of OTP’s strategic expansion in Southeast Europe by acquiring Societe Generale’s interests in the region. So far, CMS has advised on the acquisition of the bank's Serbian, Albanian, Bulgarian, and Croatian subsidiaries (as reported by CEE Legal Matters on January 23, 2017, August 29, 2018, and December 28, 2018).
CMS's cross-border team was led by a Budapest-based team led by Partner Eva Talmacsi and including Partner Dora Petranyi, Senior Associates Zoltan Poronyi, Dora Czegledi, and Szabolcs Szendro, Associate Adam Takacs, and Trainee Lawyer Dora Altziebler. The team also included Partner Rodica Manea and Horea Popescu and Senior Associate Mircea Moraru from CMS's Bucharest office.
The Schoenherr Chisinau team was led by Partner Vladimir Iurkovski and included Associates Andrian Guzun and Denis Lefter.
Editor's Note: After this article was published, Jones Day informed CEE Legal Matters that its team had been led by Partner Alexandre de Verdun, working with Partners lorent Bouyer, Nick Burguess, Eric Barbier de La Serre, Philippe Goutay, Olivier Haas, and Emmanuel de La Rochethulon, Counsel Eileen Lagathu, and Associates Delphine Sauvebois-Brunel, Jonas Van den Bossche, Sylvain Kabeya, Adrien Starck, Gillan Saleh, Olga Goncharska, David Aumain, Pierre Larcher, Yann Davie, and Edouard Fortunet.
In addition, additional lawyers have been added to Schoenherr's team on the deal.