WKB advised and represented Fiserv, Inc., on Polish regulatory clearances and proceedings in relation to its indirect acquisition of 100% of shares in First Data Polska S.A., as part of their global acquisition of First Data Corporation, with an equity value of USD 22 billion in an all-share transaction.
The acquisition was the result of a merger agreement signed in January 2019. It was subject to the clearance of the President of the Office of Competition and Consumer Protection (Urząd Ochrony Konkurencji i Konsumentów), and a non-objection decision from the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego). They were received on 26 March, 2019, and 23 July, 2019, respectively.
Fiserv, Inc. (NASDAQ: FISV) is a global provider of financial services technology, in particular to payment systems of financial institutions. First Data Corporation is one of the leaders in providing e-commerce and electronic payment solutions to corporations and financial institutions around the world (processing card payments in over 6 million shops, cash withdrawal machines and online stores). It’s daughter company First Data Polska is one of the major debit and credit card merchant transaction acquirers in the Polish market and the owner of the Polcard brand of payment terminals.
Jakub Jędrzejak (partner) of the firm’s M&A practice lead the team advising Fiserv, Inc. In proceedings before the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego) the client was also represented by Marcin Smolarek (partner) and Monika Obiegło (associate). With regard to the clearance of the President of the Office of Competition and Consumer Protection (Urząd Ochrony Konkurencji i Konsumenta), Fiserv was advised by Aleksander Stawicki (senior partner), Bartosz Turno (partner) and Emilia Wardęga (senior associate).
Sullivan & Cromwell acted as global lead counsel to Fiserv, Inc.
For more information regarding the transaction please see: