Baker & McKenzie Engaged to Advise on the Sale of Ultimo
30 Jul, 2014
Baker & McKenzie provided legal advice to the Cypriot company JTV on the sale of their minority shareholding in the Ultimo Group, a market leader in the field of debt recovery in Poland.
JTV is associated with Janusz Tchórzewski, founder of Ultimo, and since 2006 its minority partner. At the same time, the majority partner – a fund from one of the largest private equity groups in the world, managed by Advent International from Boston, USA – also sold its shares. The buyer is B2 Holding, a Norwegian firm that offers financial services.
“We were very pleased to be able to advise on this transaction, especially since Ultimo is a real potentate in the market in which portfolios are offered for sale by banks, telecommunication firms and service providers, and is the leader in the field of debt recovery,” says Tomasz Krzyżowski, a partner at Baker & McKenzie Krzyżowski & Partners LP.
“Our satisfaction is increased by the fact that we had an opportunity to participate for the second time in the sale of this fantastic company. In 2006, we assisted the then shareholders of Ultimo in the sale of the group to a fund managed by Advent.”