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Gessel Advises on Creation of New Payment Services Entity

Gessel Advises on Creation of New Payment Services Entity

Poland
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Gessel has assisted Internet operator Przelewy24 and Nets enter into a strategic alliance to create the P24 DotCard payment services entity.

According to Gessel, P24 DotCard will be one of Poland’s largest suppliers of payment services. Nets will hold a 51%  stake in the entity, with the remainder held by the current shareholders of Przelewy24. The project has received clearance from the Polish Office of Competition and Consumer Protection as well as from the Polish Financial Supervision Authority. 

Przelewy24.pl is the operator for over 85,000 merchants. Nets is a Copenhagen-based company active for more than 50 years in the European payments market. It is owned by the private equity fund Hellman & Friedman, which acquired it in a USD 5.3 billion transaction in 2018.  

The Gessel team included Partners Marcin Macieszczak, Malgorzata Badowska, Bernadeta Kasztelan-Swietlik, Leszek Koziorowski, and Janusz Fiszer, Counsel Inarda Bielinska, Managing Associate Michal Bochowicz, Attorney Tomasz Dragowski, Trainee Attorney Michal Osowski, Bartlomiej Pitera, and Katarzyna Matyszewska, Advocates Karolina Krzal, Michal Szutenbach, and Weronika Zdeb, and Trainee Advocate Barbara Tomczyk.

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