RTPR advises Innova on PayPoint and Payzone acquisition
RTPR has advised private equity fund Innova Capital in relation to the acquisition of PayPoint Services SRL and Payzone SA from PayPoint group which is listed on the London Stock Exchange. PayPoint is a market leading consumer payments operator in Romania, collecting bill payments for 85% of Romanian utility and telecom providers. Apart from bill-payments, PayPoint also offers mobile top-ups, money transfers and credit/debit card acceptance services. Completion of the transaction is subject to approval by the Competition Council and other conditions precedent agreed by the parties.
The RTPR team was coordinated by Alina Stavaru (Partner) and Andrei Mihul (Senior Associate) and included Vlad Stamatescu (Managing Associate), Evelin Grigore, Cezara Urzica, Marina Fecheta-Giurgica (Associates) and Ioana Ilie, Petrus Partene and Radu Manu (Junior Associates). Hugh Owen assisted Innova on English law aspects of the transaction.
Alina Stavaru declared: “We are pleased and honoured to have assisted Innova in this transaction and we would like to thank them for their trust. I believe that the successful signing of this deal will send a positive message in the current pandemic context when many M&A deals were put on hold. I am confident that other investment funds will take a closer look at the Romanian market and we will soon see other interesting deals. Moreover, during this last week only the RTPR team assisted on the signing of four deals (and some others are very close to be signed).”
“It is a real pleasure to negotiate a deal in which all parties involved are very experienced. Having on the other side experienced consultants is really helpful in the negotiation process and in identifying certain reasonable compromises for contradictory points that usually arise in M&A deals.”, noted Andrei Mihul.