WKB Wierciński, Kwieciński, Baehr advised Centrum Rozliczeń Elektronicznych Polskie ePłatności S.A. on the acquisition of 100% of shares in Billbird S.A. from International Game Technology (IGT). The transaction was finalised on 25 November after obtaining the clearance of the President of the Office of Competition and Consumer Protection (the Polish Competition Authority), and following the Polish Financial Supervision Authority not raising objections in relation to the intended acquisition.
WKB’s advice to Polskie ePłatności included providing comprehensive legal assistance throughout the entire transaction process, in particular, but not limited to, conducting a legal due diligence analysis of the target company and negotiating the transaction documents (including the preliminary share purchase agreement). We have also provided legal advice in relation to obtaining the necessary regulatory clearances.
Commenting on the deal, Jakub Jędrzejak, the partner leading the team advising Polskie ePłatności said: “The increasing role of cashless solutions is a clear trend in the payment sector. As a result, we are seeing growth in competition and dynamic changes on the market. The acquisition of Billbird is the most recent transaction in which we’ve had the opportunity to support Polskie ePłatności. We were delighted with the trust placed in us and pleased to have the opportunity to build further on our expertise in the very interesting and technologically advanced sector of e-payments.”
Klaudia Frątczak-Kospin, Katarzyna Kozak and Dominik Kulpa were the other members of the transaction team. In connection with regulatory matters (proceedings before the Polish Financial Supervision Authority) as well as in relation to the financing of an acquisition by a consortium of banks (mBank and ING Bank Śląski), the client is being advised by Marcin Smolarek, Aleksandra Nalewajko, Monika Obiegło and Rafał Strzępek of our Banking and Finance practice. Bartosz Turno, Wojciech Kulczyk and Aleksandra Dziurkowska of our Competition Law practice advised in relation to competition law matters.
Billbird is a leading firm providing innovative payment methods in Poland. The company’s offerings include, among others, advanced mobile payment solutions, the managing a network of financial and commercial services on POS terminals, and supplying businesses with e-invoicing solutions. They provide their services online, through their “Moje Płatności online” brand, as well as through traditional channels, managing the largest POS terminal financial and commercial services network in Poland. IGT is a multinational gaming company, and is listed on the New York Stock Exchange.
Billbird’s buyer, Centrum Rozliczeń Elektronicznych Polskie ePłatności, is known in the Polish cashless payment market, and specializes in payment processing technology and providing solutions for business customers.
For more information about the transaction please see the following links (in Polish only):