DLA Piper has advised First Data Corporation on the indirect acquisition of First Data Polska's shares by Fiserv, Inc. WKB, working alongside global counsel Sullivan & Cromwell, advised Fiserv on the deal, which was part of a global merger of First Data with subsidiary Fiserv that was valued at USD 22 billion.
First Data handles card transactions in over six million retail stores, ATMs, and online shops. The company accounts for 45% of all transactions made with credit and debit cards in the US, worth USD 2.2 trillion annually. Its Polish subsidiary is the owner of the Polcard brand, the first operator of modern payment terminals in Poland.
Fiserv is a global provider of financial services. The company's spectrum of activities includes services related to electronic payments, payment cards, invoice solutions, bank account processing systems and others. Fiserv's customers include credit societies, investment management companies, leasing and finance companies, as well as trading and retail companies.
On July 23, the Polish Financial Supervision Authority (KNF) issued a decision stating that there were no grounds for objecting to the indirect acquisition of shares in the Polish company.
The work of DLA Piper's Warsaw office was headed by Partner Marta Frackowiak, supported by Counsel Wojciech Kalinowski and Senior Associate Malwina Bonder-Wojcik.
The WKB team consisted of Partners Jakub Jedrzejak and Marcin Smolarek, Senior Associate Robert Makowski, and Associate Monika Obieglo.