Baker & McKenzie has provided legal advice to the Cypriot company JTV on the sale of its minority shareholding in the Ultimo Group, originally reported on by CEE Legal Matters on July 4, 2014.
JTV is associated with Janusz Tchorzewski, the founder of Ultimo, and since 2006 its minority partner. At the same time, the majority partner – a fund from one of the largest private equity groups in the world, managed by Advent International from Boston, USA – also sold its shares. The buyer is B2 Holding, a Norwegian firm that offers financial services.
"We were very pleased to be able to advise on this transaction, especially since Ultimo is a real potentate in the market in which portfolios are offered for sale by banks, telecommunication firms and service providers, and is the leader in the field of debt recovery," said Tomasz Krzyzowski, a Partner at Baker & McKenzie Krzyzowski & Partners.