Freshfields Bruckhaus Deringer has advised Barclays Bank Ireland on the sale of assets and liabilities that comprise its German consumer finance business – Consumer Bank Europe – to BAWAG P.S.K. Hengeler Mueller advised BAWAG. Reportedly, BPV Huegel and Mason Hayes & Curran advised BAWAG as well.
The transaction remains contingent on regulatory approval.
BAWAG P.S.K. is a wholly-owned subsidiary of BAWAG Group AG.
According to Freshfields, "Consumer Bank Europe is a diversified retail banking business, with established credit card, consumer loan, and deposit franchises serving customers in the German and Austrian markets. As of March 31, 2024, Consumer Bank Europe had gross assets of EUR 4.7 billion, primarily comprising card and loan receivables."
The Freshfields team included Vienna-based Partner Florian Klimscha, Counsel Michal Dobrowolski, Principal Associate Eva Schneider, and Associates Mattias Koeck and Angelika Holzer, Londong-based Partners Claire Wills and Andy Robinson, Frankfurt-based Partners Janina Heinz, Alexander Glos, and Robin Helmke, Principal Associates Jan Biermann and Marius Raetz, and Associates Hans-Ulrich Kloeppel, Bernardo Mora, and Judith Bremer, Hamburg-based Partners Patrick Cichy, Alexander Schwahn, Philipp Dohnke, and Boris Dzida, Counsel Marius Scherb, Principal Associates Tobias Franz, Cosmas Weigel, and Judith Roemer, and Associates Aleksandar Atanasov, Valentin Mueller, Martin Hadler, Bruno Gebhardi, Daniel Extra, and Jan Kothe, and Brussels-based Associate Jonas Levermann.
The Hengeler Mueller team included Frankfurt-based Partners Johannes Adolff, Thomas Lang, Thomas Mueller, Dirk Bliesener, and Christian Hoefs, Counsels Martin Peters, Jan Letto Steffen, and Sebastian Heinrichs, and Associates Moritz Weidemann, Maximilian Kunzelmann, Lea Sophie Grohmann, Christian Voigt, Antonius Rodewig, Julia Tittel, Konrad Schaefer, Philip Falk, Moritz Bach, Hannah Schuetz, Julie Stratmann, Gerrit Toenningsen, Pascal Brandt, Stefan Kress, Maximilian Maucher, and Patrick Schmidt, Berlin-based Partner Jens Wenzel and Associates Nicolas Kutscher, Kevin Marschhaeuser, Roman Kalin, and Lukas von Ditfurth, Dusseldorf-based Partners Hartwin Bungert and Philipp Otto Neideck, Counsels Matthias Rothkopf, Andrea Schlaffge, and Christian Dankerl, and Associates Moritz Koch, Julia Gramer, Kim Josefine Weisser, and Sven Botthaeuser, and Munich-based Partner Markus Ernst, Counsel Carolin Raspe, and Associate Sara Dietz.
