Act BSWW Poland has advised Comp S.A. on the sale of 100% shares in PayTel S.A. to Portuguese company Sibs-SGPS S.A. DLA Piper advised Sibs-SGPS on the acquisition.
The transaction consists of four stages. The first will see Comp S.A. selling 55% shares for PLN 34 million, with the remaining 45% to be sold in three phases of 15% each over subsequent years. The price will be determined on the basis of specific results defined in the agreement, with the cap set at PLN 200 million.
PayTel is a company headquartered in Warsaw, holding the status of a National Payment Institution and registered with the Polish Financial Supervision Authority.
The Act BSWW team was led by Managing Partner Piotr Wojnar and Partner Janusz Szelinski, supported by Senior Associate Lukasz Polak and Associate Aleksandra Sztajer.
Editor's Note: After this article was published DLA Piper informed CEE Legal Matters that its team advising Sibs-SGPS had been led by Counsel Jakub Domalik-Plakwicz, supported by Senior Associate Malwina Bonder, Associate Anna Chrabota-Bajson, and Junior Associate Michal Kuratowski.