VeloBank Clinches Acquisition Deal for Citi Handlowy’s Consumer Business
Deal News | Jun 04, 2025 | CEE Legal Matters
VeloBank, along with its shareholders including Cerberus Capital Management, has reached an agreement to acquire the consumer business of Bank Handlowy w Warszawie (also known as Citi Handlowy) from Citibank Europe. This transaction is subject to obtaining the necessary regulatory approvals. Greenberg Traurig advised VeloBank throughout the process, while Rymarz Zdort Maruta represented Bank Handlowy in Warszawie. Cleary Gottlieb Steen & Hamilton provided legal advice to Cerberus Capital Management, and Clifford Chance reportedly advised Citibank. The teams overseeing the transaction from Greenberg Traurig and Rymarz Zdort Maruta consisted of multiple senior partners and associates, with Greenberg Traurig's involvement including a multi-tiered team of senior managing and junior associates across various areas of corporate finance, transaction law, and regulatory expertise.
Sectors
- Financial Services
- Legal Advisory
Geography
- Poland – The transaction is centered around the Polish market, involving VeloBank and Citi Handlowy's consumer business in Poland.
Industry
- Financial Services – The article involves a transaction in the banking and consumer finance sector, involving entities like VeloBank, Citi Handlowy, and Cerberus Capital Management.
- Legal Advisory – Multiple law firms provided legal advisory services for the transaction, indicating the involvement of the legal sector.
Financials
- – The article does not specify the financial terms or values involved in the transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| VeloBank | Target company | Company | VeloBank is the company acquiring the consumer business of Citi Handlowy in this transaction. |
| Cerberus Capital Management | Bidding Company | Company | Cerberus Capital Management is supporting VeloBank in the acquisition. |
| Bank Handlowy w Warszawie (Citi Handlowy) | Selling Company | Company | Bank Handlowy, affiliated with Citibank Europe, is selling its consumer business in Poland. |
| Citibank Europe | Vendor | Company | Citibank Europe is the owner of Bank Handlowy and is facilitating the sale of its consumer business. |
| Greenberg Traurig | Legal Advisor for VeloBank | Company | Greenberg Traurig provided legal counsel and representation for VeloBank in the transaction. |
| Rymarz Zdort Maruta | Legal Advisor for BHW | Company | Rymarz Zdort Maruta advised Bank Handlowy on the legal aspects of the sale. |
| Cleary Gottlieb Steen & Hamilton | Legal Advisor for Cerberus | Company | Cleary Gottlieb advised Cerberus Capital Management in the acquisition. |
| Clifford Chance | Legal Advisor for Citibank | Company | Reportedly advised Citibank in the transaction. |