Filip & Company and Linklaters have advised Banca Transilvania on its RON 213 million acquisition of the shares held by Getin Holding in the Idea Bank Group in Romania. Sayenko Kharenko and Nestor Nestor Diculescu Kingston Petersen have advised the seller on the matter.
The transaction remains contingent on regulatory approval by the Financial Supervisory Authority, the Competition Council, and the National Bank of Romania.
The deal includes four companies operating under the Idea brand in Romania – Idea Bank, Idea Leasing, Idea Insurance Broker, and Idea Investment – with 46 units and RON 2.85 billion in assets.
Banca Transilvania is a financial group active in South-Eastern Europe with over 3.2 million customers, 9,000 employees, and 500 retail units.
The Getin Holding Group is active in retail banking, leasing, brokerage services, factoring, and consulting in Poland, Ukraine, and Romania and is listed on the Warsaw Stock Exchange.
"This acquisition is part of Banca Transilvania Financial Group’s strategy to continue launching online banking initiatives. Idea Bank . . . will be a digital banking hub through which we will launch and develop creative ideas and digital solutions for current and future customers," declared Horia Ciorcila, BT Chairman of the Board, while thanking Getin Holding management and "everybody that has contributed to the success of this transaction."
This is the second Getin Holding deal Sayenko Kharenko advised on this year, after assisting in the sale of Idea Bank Belarus to MTBank (as reported by CEE Legal Matters on April 9, 2021). Sayenko Kharenko’s team included Partner Alina Plyushch, Senior Associate Dmitriy Riabikin, and Associate Yaroslava Chernyshchuk.
Filip & Company and BT have also worked together before, most recently on Banca Transilvania's Acquisition of Microinvest in Moldova (as reported by CEE Legal Matters on January 21, 2020). The Filip & Company team was led by Partners Alina Stancu Birsan and Cristina Filip and included Partner Olga Nita, Senior Associate Rebecca Georgiana Marina, and Associates Lavinia Cazacu and Alexandru Moraru.
NNDKP's team was led by Partner Alina Radu and included Partner Corina Dumitru and Managing Associate Stefan Ionescu.
Linklater's team was led by Partners Daniel Cousens and Marcin Schulz and Counsel Christopher Quinn and included Senior Associates Maciej Ficinski, Wojciech Kobylinski, Klaudia Owsianka, and Szymon Sieniewicz, and Associate Daria Wojciechowska.