RTPR has advised Innova Capital on its acquisition of PayPoint Services and Payzone from the PayPoint Group.
Financial details of the transaction were not disclosed, and closing remains subject to approval by the Competition Council in Romania.
According to RTPR, “PayPoint is a consumer payments operator in Romania [that] collects bill payments for 85% of Romanian utility and telecom providers. Apart from bill-payments, PayPoint also offers mobile top-ups, money transfers, and credit/debit card acceptance services.”
Innova Capital is a private equity fund investment manager that was founded in 1994 in Poland. It primarily invests in the technology, manufacturing, consumer, healthcare, and retail sectors.
RTPR did not respond to an inquiry about the transaction.
Editor's note: After this article was published, RTPR informed CEE Legal Matters that its team also included Managing Associate Vlad Stamatescu, Associates Evelin Grigore, Cezara Urzica, and Marina Fecheta-Giurgica, and Junior Associates Ioana Ilie, Petrus Partene, and Radu Manu. In addition, the firm reported that Hugh Owen of Go2 Law provided Innova Capital with English law advice of the transaction.
Subsequently, Vernon David & Associates informed CEE Legal Matters that it had advised PayPoint on the deal, in cooperation with Mills & Reeve from the UK. Vernon David & Associates’ team included Partner Maria Nica, Senior Associate Mihai Stan, and Associate Emanuela Culea.
The Mills & Reeve team was led by Partner Stephen Hamilton.
Subsequently, on April 13, 2021, RTPR announced that "the acquisition process of PayPoint Services SRL si Payzone SA ... successfully closed. According to RTPR, the deal was valued at approximately GBP 48 million, and "the banks who extended the financing to the buyer were European Bank for Reconstruction and Development and UniCredit Bank S.A., with UniCredit Bank S.A., acting as agent and security agent."
In addition to the lawyers identified in the original story, RTPR's team included Partner Alexandru Retevoescu, Counsel Andreea Burtoiu, Associates Codrina Simionescu, Petru Ursache, and Lia Ilie, and Junior Associate Iustina Nastasa. Competition aspects of the transaction were covered by Partner Valentin Berea and Counsel Roxana Ionescu.