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Eversheds Sutherland Wierzbowski advised IGT on sale of BillBird

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Eversheds Sutherland Wierzbowski has advised IGT Global Services Limited (IGT) on the sale of 100% of the shares of BillBird to Centrum Rozliczeń Elektronicznych Polskie ePłatności S.A. (PeP). The transaction was finalized on 25 November 2019, after obtaining approval for the concentration from the president of the Office of Competition and Consumer Protection, with no objection from the Polish Financial Supervision Authority to the intended acquisition of shares.

The firm’s lawyers involved in the transaction were Ewa Szlachetka, the partner co-heading the M&A team, and Małgorzata Deruś from the M&A team, with additional support from Krzysztof Feluch, Grzegorz Kott and Adam Nierzwicki.

Eversheds Sutherland Wierzbowski lawyers provided comprehensive legal support throughout the transaction process, particularly during negotiation of the transaction documents (including the share sale agreement). They also supported the parties to the transaction in preparing the company to join the Polskie ePłatności group and obtaining the necessary regulatory approvals.

BillBird is a leader in innovative payment methods in Poland, a supplier of mobile payment solutions, administrator of the largest network of financial and commercial services on POS terminals, and supplier of electronic invoicing business solutions. IGT is a leader in providing lottery goods and services to customers globally.

Centrum Rozliczeń Elektronicznych Polskie ePłatności, the company acquiring the BillBird shares, is one of the largest operators of cashless payment processes in Poland. Polskie ePłatności S.A. is the fastest-growing and most dynamic entity in the cashless payments sector in Poland. It has state-of-the-art tech support allowing it to offer services for entrepreneurs, providing them tools for growth and success of their firms. Polskie ePłatności is also an active participant in the Cashfree Poland program encouraging cashless commerce.

The acquisition of 100% of the shares of BillBird S.A. by Polskie ePłatności is primarily aimed at providing clients the highest quality services and state-of-the-art payment platforms, expanding the product line, and ensuring support at every stage of cooperation, leading to business growth and higher profits. BillBird will remain a separate company, and the change in owners of the entire stake of shares will not affect in any way the functioning of terminals or the services customers use via payment terminals.

The Polish office of Eversheds Sutherland has extensive experience advising the payment services sector. For years the firm has represented a global card organization, advising on AML and regulatory issues, development of product documentation, agency agreements, structuring of cooperation with affiliated entities, and proceedings before the Polish Financial Supervision Authority.

This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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