The Lambadarios law firm, working with Akin Gump, has advised Piraeus Bank on the carve-out and EUR 300 million sale of its merchant acquiring business unit to Euronet Worldwide and on their long-term sales and distribution partnership. Papapolitis & Papapolitis advised Euronet.
The transaction remains contingent on regulatory approval.
Piraeus Financial Holdings subsidiary Piraeus Bank is an Athens Stock Exchange-listed financial holdings company.
Euronet Worldwide is a US-headquartered financial technology solutions and payments provider.
"We are very pleased to announce today the cards acquiring business transaction between Piraeus Bank and Euronet Worldwide, the first of its kind in the Greek market," Piraeus Bank CEO Christos Megalou commented. "Piraeus Bank continues to innovate and paves the way on all fronts, instilling dynamism in the Greek banking market. Within a fast-changing European payments landscape, Euronet Worldwide is the right technology partner to advance the customer experience of our bank, grow one of the core pillars of our offering, and expand our payments capabilities."
"Together with Piraeus Bank, we plan to meaningfully grow the digital payments business in Greece and will be able to offer innovative, first-class solutions to the new 'Piraeus and Euronet' merchant customers through our best-in-class technology stack," Euronet Worldwide CEO Michael J. Brown added.
The Lambadarios team was led by Partners Constantinos Lambadarios and Melina Katsimi.
The Papapolitis & Papapolitis team was led by Partner Evi Tsilou and included Of Counsel Christos Pilafas and Associates Antonia Rountou and Erna Kritikou.
The Akin Gump team was led by Partner Gavin Weir and included Partners Davina Garrod and Scott Pettifor and Counsel Christopher Beardmore.