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CMS and Filip & Company Advise on Banca Transilvania Purchase of OTP Bank Romania

CMS and Filip & Company Advise on Banca Transilvania Purchase of OTP Bank Romania

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CMS has advised the OTP Group on the binding agreement to sell its stake in OTP Bank Romania and all subsidiaries to Banca Transilvania for a combined purchase price is EUR 347.5 million. Filip & Company advised Banca Transilvania on the acquisition.

The transaction includes OTP Bank Romania, OTP Leasing, and OTP Asset Management and remains contingent on regulatory approval.

According to CMS, the deal marks OTP Group’s full exit from the Romanian market, after 20 years, to local market leader Banca Transilvania.

Since 2004, the OTP Bank banking group has been the majority shareholder of OTP Bank Romania. Operating in Romania as a universal bank, OTP Bank Romania currently serves approximately 420,000 retail customers and more than 22,000 corporate/SME customers, thanks to its 1,800 employees and a network of 96 branches.

BT is the largest bank in Romania and South-Eastern Europe, CMS reported, covering all customer segments and business lines in the financial sector. It has more than 4 million customers, approximately 10,000 employees, and a strong branch network countrywide.

"We are honored and happy to contribute to furthering the success story of Banca Transilvania at the top of the Romanian banking market," Filip & Company Partner Alina Stancu Birsan said. "We thank BT for choosing us to partner again in this complex and challenging project and to work together with a team we admire. We take pride in the success of both our client and our team."

"It is a pleasure to continue supporting our longstanding client in navigating the complexities of the disposal of its Romanian business to BT," CMS London-based Partner Eva Talmacsi commented. "OTP Bank Romania has been an important feature of Romania’s banking sector for two decades, characterized by strong organic growth and exceptional customer service. The disposal of its Romanian arm forms an important part of OTP Group’s strategic objectives, and we look forward to following OTP’s journey in realizing its future plans."

The CMS team was led by Talmacsi and Partner Rodica Manea and included Partners Horea Popescu and Cristina Reichmann, Counsels Raluca Ionescu and Claudia Nagy, Tax Director Andrei Tercu, Associates Simona Strava and Cristina Ciomos, and more than 10 other lawyers from the banking, data protection, IP, litigation, and white-collar crime teams.

The Filip & Company team was led by Stancu Birsan and Partner Cristina Filip and included Partners Alexandra Manciulea, Catalin Suliman, Eliza Baias, Olga Nita, George Trantea, Ioana Roman, and Cristina Tudoran, Senior Associates Rebecca Marina, Camelia Iantuc, Simona Ungureanu, Alin Grapa, and Diana Gavra, and Associates Marius Gheldiu, Raluca Bita, Andrei Banescu, Daria Olteanu, Monica Popa, Valeriu Iliescu, Ionut Blidar, Tudor Dobinda, Ruxandra Tenea, Madalina Cristache, Teodor Trandafir, Cezara Diaconescu, Malina Palade, and Alina Savastre, among others.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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