Greenberg Traurig has provided legal counsel to VeloBank S.A., its holding company, and shareholders, including Cerberus Capital Management, L.P. (Cerberus), regarding the acquisition of Bank Handlowy w Warszawie S.A.’s (BHW) consumer business in Poland. The agreement involves Citibank Europe PLC and is subject to regulatory approvals and customary conditions. Completion is anticipated by mid-2026.
The law firm offered Polish legal advice for this transaction, with the M&A team led by Partners Łukasz Pawlak and Stephen Horvath. Local Partner Maciej Pietrzak, Michał Bobrzyński, and Senior Associate Agata Del-Rosal Iżyk were also part of the team. Strategic advice was provided by Senior Partner Lejb Fogelman.
Corporate aspects were handled by Deputy Managing Partner Michał Fereniec and Senior Associate Wiktor Zień among others. Securities law matters were addressed by Partner Rafał Sieński and his team, while banking matters were advised on by Counsel Mateusz Koronkiewicz. Competition issues were overseen by Partner Robert Gago with assistance from senior associates Anna Celejewska-Rajchert and Filip Drgas.
Employment-related aspects involved Partner Anna Hałas-Krawczyk along with her team. Tax advice was given by Local Partner Maciej Kacymirow’s group. Additional support came from Senior Associate Izabela Żmijewska and Junior Associates Ewa Głowacka and Damian Kossakowski.
“This transaction is undoubtedly one of the most significant in the Polish banking sector in 2025 to date,” said Lejb Fogelman, emphasizing Greenberg Traurig’s role in navigating complex transactions within the financial services market.
Stephen Horvath noted that advising on this milestone transaction highlights “the importance of developing in-depth market knowledge” and reinforces their reputation as a leading advisor on transformational deals.
