News

BRD, BCR and Raiffeisen Bank to split ownership of CIT One

November 29, 2019

PNSA advised BRD Groupe Société Générale on its co-investment, along with Raiffeisen Bank and BCR, in CIT One, a company specialised in the transport, processing and storage of cash and other valuables, initially owned by BCR. CIT One will be jointly controlled by the three banks with equal ownership rights.

BRD, BCR and Raiffeisen Bank to split ownership of CIT One

The transaction is awaiting approval of the competent supervisory authorities and of the Competition Council.

PNSA team was led by Partner Silviu Stoica (M&A) along with Managing Associate Vlad Ambrozie (M&A). The extended team included Partners Alexandru Ambrozie (Anti-bribery compliance), Mihaela Ion (Competition) and Mihaela Pohaci (Tax), Managing Associates Codrin Luță (Banking), Ioana Cazacu (Employment) and Laura Ambrozie (Competition), Senior Associate Cristina Marcu (Intellectual Property) and Associates Ana Stoenescu (Anti-bribery compliance), Georgiana Enache (Litigation), Ruxandra Petcu (Corporate) and Vanessa Nistor (Competition).

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Other significant banking transactions advised by PNSA in the last 12 months:

• IBM on Romanian legal matters related to the launch of Blockchain World Wire payment system;
• Ameropa on €324 million syndicated credit facility for refinancing existing bilateral facilities and supporting new working capital needs of its Romanian entities;
• RI-GD Investments and The Governor and Company of the Bank of Ireland on two financings estimated at €430 million granted to an Irish group with presence in Romania;
• Dedeman on four financings amounting to approximately €44 million for the development of the Bridge 3 office building and Eli Park;
• CLN Group on €134 million financing granted by IFC.