bpv GRIGORESCU advises a subsidiary of RTC Holding on the sale of Pay Store SRL.15 May 2007
A team of lawyers from bpv GRIGORESCU law firm, led by Partner Catalin Grigorescu and including, inter alia, Associate Nicolae Ursu, has advised a subsidiary of RTC Holding BV, controlled by Mr. Radu Octavian, on the sale of Pay Store SRL, the leading Romanian mobile pre-pay distribution company. The buyer is PayPoint plc, the leading cash and internet payments company in UK and Ireland, handling over 400 million payments exceeding £5 billion in aggregate value annually for over 5,000 clients and merchants.
“We are proud of having been involved in one of the few significant M&A transactions in the recent period of time in Romania that is not driven by real estate considerations. This shows that our strategy to focus our corporate services on mid-size sophisticated transactions was based on a sound anticipation of the market developments, as this is the second transaction of this size that we advise on within a period of four months, after the takeover of Servito by Techem”, says Managing Partner Cătălin Grigorescu. “Nevertheless, real estate projects continue to make up for most of our transactional business in the areas of real estate, corporate, tax and finance”.
The transactional services provided by bpv GRIGORESCU to the seller included contract review as well as legal assistance in the negotiation and closing phases of the transaction.