DZP advises on the sale of shares in second largest airline in Poland

Domański Zakrzewki Palinka provided legal advisory to Polskie Linie Lotnicze LOT S.A. on the sale of a block of shares in EuroLOT S.A. The share sale was the largest transaction of this type on the Polish market and project value was over PLN 100 million. In terms of the number of passengers carried and aircraft operated, EuroLOT is the second largest airline in Poland and independently operates flights to Poland and has recently also started to operate flights to foreign airports and carry passengers to airports from which foreign connections are handled by PLL LOT.

Our advisory involved providing full-range legal assistance with, e.g. developing the concept for the procedure to select a buyer, drawing up documentation for the procedure and draft purchase contracts (preliminary and final) and also draft documents to safeguard transaction performance at the stage between preliminary contract signing and closing. DZP also helped negotiate the transaction documentation and supported PLL LOT in obtaining the required corporate consents.

The project was handled by Dr Marek Świątkowski, Igor Barcew and Michał Cecerko from our Corporate and M&A Practice.