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Norton Rose Fulbright and Allen & Overy Advise on Play's Financing for Acquisition of UPC in Poland

Norton Rose Fulbright and Allen & Overy Advise on Play's Financing for Acquisition of UPC in Poland

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Norton Rose Fulbright has advised P4 sp. z o.o. on a PLN 5.5 billion (EUR 1.12 billion) partial financing for the acquisition of UPC Polska in Poland from Liberty Global. Allen & Overy advised the lenders on the deal.

According to NRF, the financing will be provided by a consortium of banks including mandated lead arrangers, underwriters and bookrunners BNP Paribas Bank Polska, Credit Agricole Corporate and Investment Bank, ING Bank, Powszechna Kasa Oszczednosci Bank Polski, Raiffeisen Bank International AG, Santander Bank Polska, and Societe Generale; original lenders BNP Paribas Bank Polska, Credit Agricole Bank Polska, Credit Agricole Corporate and Investment Bank, ING Bank N.V., ING Bank Slaski, Powszechna Kasa Oszczednosci Bank Polski, Raiffeisen Bank International AG, Santander Bank Polska, and Societe Generale; documentation agent Credit Agricole Corporate and Investment Bank; and agent bank Santander Bank Polska.

Closing of the acquisition of UPC Polska (originally reported by CEE Legal Matters on October 8, 2021) and financing is pending antimonopoly clearance.

P4 sp. z o.o., branded as Play, is the largest mobile telecommunications service provider in Poland with a 28% market share. Play is part of the Iliad Group, a French telecommunication operator.

UPC Polska is one of the largest cable television operators and a leading provider of triple-play services in Poland.

Norton Rose Fulbright’s team was led by Counsel Tomasz Rogalski and Associate Igor Kondratowicz and included Associate Karolina Majcher.

Allen & Overy's team included Partners Tomasz Kawczynski and Dan Cocker as well as Senior Associate Anna Pawelec.

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