Linklaters has advised ING Bank Śląski S.A. on the acquisition of a 45% stake in NN Investment Partners TFI
Linklaters has advised ING Bank Śląski S.A. on the acquisition of a 45%-stake in investment fund management company NN Investment Partners TFI S.A. from NN Investment Partners International Holdings B.V. with the aim of strengthening the long-term partnership between NN Investment Partners and ING Bank Śląski in relation to the distribution of investment funds of NN Investment Partners TFI.
The transaction involved execution of the preliminary share purchase agreement, the shareholders agreement, and ancillary documentation. The transaction is conditional on KNF clearance being issued. The bank expects the transaction to be closed in Q2 2019.
ING Bank Śląski is the fifth biggest bank operating in Poland and provides services for 4.76 million clients. Its assets at the end of September 2018 amounted to PLN 134 billion.
NN Investment Partners TFI were managing assets of PLN 13.2 billion at the end of October and its actual market share is 8.3%. It manages 36 open-ended and close-ended funds with different risk categories.
The wider corporate team included managing associate, Klaudia Królak, and associates Klaudia Owsianka and Alicja Kiersznicka. Małgorzata Szwaj, partner supported by senior associates Wojciech Podlasin and Anna Laszczyk and junior associate Joanna Maksymowicz, advised on relevant competition law issues. Regulatory support was also provided by Joanna Gawlicka, managing associate and Maciej Pietroń, associate from the banking and finance practice. Agnieszka Mencel, managing associate and Jakub Kowal, associate provided GDPR and IP related advice.