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CMS and Filip & Company Advise on Banca Transilvania Purchase of OTP Bank Romania

CMS and Filip & Company Advise on Banca Transilvania Purchase of OTP Bank Romania

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CMS has advised the OTP Group on the binding agreement to sell its stake in OTP Bank Romania and all subsidiaries to Banca Transilvania for a combined purchase price is EUR 347.5 million. Filip & Company advised Banca Transilvania on the acquisition.

The transaction includes OTP Bank Romania, OTP Leasing, and OTP Asset Management and remains contingent on regulatory approval.

According to CMS, the deal marks OTP Group’s full exit from the Romanian market, after 20 years, to local market leader Banca Transilvania.

Since 2004, the OTP Bank banking group has been the majority shareholder of OTP Bank Romania. Operating in Romania as a universal bank, OTP Bank Romania currently serves approximately 420,000 retail customers and more than 22,000 corporate/SME customers, thanks to its 1,800 employees and a network of 96 branches.

BT is the largest bank in Romania and South-Eastern Europe, CMS reported, covering all customer segments and business lines in the financial sector. It has more than 4 million customers, approximately 10,000 employees, and a strong branch network countrywide.

"We are honored and happy to contribute to furthering the success story of Banca Transilvania at the top of the Romanian banking market," Filip & Company Partner Alina Stancu Birsan said. "We thank BT for choosing us to partner again in this complex and challenging project and to work together with a team we admire. We take pride in the success of both our client and our team."

"It is a pleasure to continue supporting our longstanding client in navigating the complexities of the disposal of its Romanian business to BT," CMS London-based Partner Eva Talmacsi commented. "OTP Bank Romania has been an important feature of Romania’s banking sector for two decades, characterized by strong organic growth and exceptional customer service. The disposal of its Romanian arm forms an important part of OTP Group’s strategic objectives, and we look forward to following OTP’s journey in realizing its future plans."

The CMS team was led by Talmacsi and Partner Rodica Manea and included Partners Horea Popescu and Cristina Reichmann, Counsels Raluca Ionescu and Claudia Nagy, Tax Director Andrei Tercu, Associates Simona Strava and Cristina Ciomos, and more than 10 other lawyers from the banking, data protection, IP, litigation, and white-collar crime teams.

The Filip & Company team was led by Stancu Birsan and Partner Cristina Filip and included Partners Alexandra Manciulea, Catalin Suliman, Eliza Baias, Olga Nita, George Trantea, Ioana Roman, and Cristina Tudoran, Senior Associates Rebecca Marina, Camelia Iantuc, Simona Ungureanu, Alin Grapa, and Diana Gavra, and Associates Marius Gheldiu, Raluca Bita, Andrei Banescu, Daria Olteanu, Monica Popa, Valeriu Iliescu, Ionut Blidar, Tudor Dobinda, Ruxandra Tenea, Madalina Cristache, Teodor Trandafir, Cezara Diaconescu, Malina Palade, and Alina Savastre, among others.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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