Rymarz Zdort Maruta has advised the Bank Guarantee Fund on the sale of VeloBank to US fund Cerberus Capital Management for an investment amount of more than PLN 1 billion. Linklaters advised Cerberus.
The transaction remains contingent on regulatory approval.
The BGF guarantees bank deposits in Poland and provides support for financial institutions at risk of bankruptcy.
VeloBank is a bridge institution, the successor to Getin Noble Bank, which was subject to resolution.
Cerberus Capital Management is an investment firm based in the US.
The Rymarz Zdort Maruta team included Partner Magdalena Pyzik-Walag, Senior Associate Pawel Mazur, and Associates Filip Goledzinowski, Szymon Marciniak, and Tymoteusz Matusiak.
The Linklaters team included Warsaw-based Partner Marcin Schulz, Managing Associates Joanna Gawlicka and Magdalena Szewczyk, and Senior Associates Maciej Pietron and Michal Wolangiewicz, with further team members in London.