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CMS and Schoenherr Advise on OTP Bank Acquisition of Mobiasbanca from Societe Generale

CMS and Schoenherr Advise on OTP Bank Acquisition of Mobiasbanca from Societe Generale

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CMS and Turzan Cazac have advised the OTP Bank Group on the acquisition of 87.85% of shares in Mobiasbanca from the Societe Generale group. Schoenherr, working with lead counsel Jones Day, advised Societe Generale on the sale. 

Mobiasbanca is the fourth largest bank in Moldova with a market share of 13.3%. The transaction is expected to close in the coming months pending regulatory and merger clearance approvals.

According to CMS, this transaction is the continuation of OTP’s strategic expansion in Southeast Europe by acquiring Societe Generale’s interests in the region. So far, CMS has advised on the acquisition of the bank's Serbian, Albanian, Bulgarian, and Croatian subsidiaries (as reported by CEE Legal Matters on January 23, 2017, August 29, 2018, and December 28, 2018). 

CMS's cross-border team was led by a Budapest-based team led by Partner Eva Talmacsi and including Partner Dora Petranyi, Senior Associates Zoltan Poronyi, Dora Czegledi, and Szabolcs Szendro, Associate Adam Takacs, and Trainee Lawyer Dora Altziebler. The team also included Partner Rodica Manea and Horea Popescu and Senior Associate Mircea Moraru from CMS's Bucharest office. 

The Schoenherr Chisinau team was led by Partner Vladimir Iurkovski and included Associates Andrian Guzun and Denis Lefter.

Editor's Note: After this article was published, Jones Day informed CEE Legal Matters that its team had been led by Partner Alexandre de Verdun, working with Partners lorent Bouyer, Nick Burguess, Eric Barbier de La Serre, Philippe Goutay, Olivier Haas, and Emmanuel de La Rochethulon, Counsel Eileen Lagathu, and Associates Delphine Sauvebois-Brunel, Jonas Van den Bossche, Sylvain Kabeya, Adrien Starck, Gillan Saleh, Olga Goncharska, David Aumain, Pierre Larcher, Yann Davie, and Edouard Fortunet.

In addition, additional lawyers have been added to Schoenherr's team on the deal.

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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