DZP advised on major transactions on Polish market in 2012

The ranking of largest and best law firms published on 18 April by Rzeczpospolita daily was accompanied by a list of transactions carried out on the Polish market in 2012 and the firms that handled them. We are pleased to inform you that two transactions carried out with the active participation of DZP have been ranked as among the most important on the market in the past year.

DZP was engaged to advise on the acquisition of shares in TVN S.A. from ITI by the Canal+ Group and the merger of platform "N" and Cyfra+. The transaction was carried out by a strategic partnership of the Vivendi/Canal+ Group and the ITI Group and involved the conclusion of two joint ventures created at different levels: between ITI and Vivendi at TVN level, where the Canal+ Group became a key shareholder in the TVN Group, and between TVN and Canal+ to merge their digital platforms in Poland under the new name of "nc+" in which Canal+ holds 51% of shares valued at PLN 5.94 billion.

Our law firm also advised on the merger of BZ WBK S.A. and Kredyt Bank S.A. in which all Kredyt Bank's assets were transferred to BZ WBK (merger through acquisition). In exchange, Kredyt Bank shareholders received newly issued shares in BZ WBK. The merger was the creation of the third largest banking group in Poland with 889 outlets serving around 4.1 million clients. Transaction value was approx. PLN 4.5 billion. As part of the transaction the European Bank for Reconstruction and Development became a minority shareholder in the merged bank.

The list of transactions includes 27 undertakings that were deemed key, interesting and innovative. Projects were selected by a panel of investment bankers appointed by the newspaper's editor especially for the purpose. Panel members were representatives of, e.g. banks, the Warsaw Stock Exchange and investment funds, and the panel was composed of eighteen specialists who deal on a daily basis with, e.g. investment planning and finance, restructuring and business advisory, and co-operate with large companies. Among the panel members were Witold Daniłowicz, attorney-at law and president of the Polish Association of Legal Employers, and Ewa Usowicz, deputy editor-in-chief of Rzeczpospolita, who took part in a discussion during the panel session but did not select the transactions.