Lawyer Monthly - June 2022

Acted as Legal Advisers on the transaction Lawyer Monthly Transaction Reports - Mergers & Acquisitions 114 WWW.LAWYER-MONTHLY.COM JUN 2022 ABOUT THE DEAL Lambadarios Law Firm has advised Piraeus Bank (a subsidiary of Piraeus Financial Holdings SA) on the successful completion of its €300 million sale of its merchant acquiring unit to Euronet Worldwide, in addition to the formation of a long-term partnership between the two organisations. The transaction, encompassing both the separation and sale of Piraeus Bank’s merchant acquiring business unit and the formation of the sales and distribution partnership between the Bank and Euronet, was the first of its kind in the Greek market. Euronet Worldwide will act as Piraeus Bank’s long-term partner for the provision of merchant acquiring services to Piraeus Bank customers. The total value of the transaction amounted to €300 million. Piraeus Bank and Euronet Worldwide established a cooperative relationship in 2000 in relation to card processing services. Within the new partnership, the parties expect to provide significant value to existing and future customers in Greece, utilising the technological capabilities and the leading knowledge of Euronet Worldwide as an international payment provider which ensures state of the art products and services in the field of merchant acquiring. Lambadarios Law Firm acted as local legal advisors to Piraeus Bank with a team of partners led by managing partner Constantinos Lambadarios and corporate MA partner Melina Katsimi. UBS AG London Branch, PricewaterhouseCoopers Business Solutions SA and Akin Gump Strauss Hauer & Feld LLP also advised Piraeus Bank. March 2022 Piraeus Bank’s Sale of Merchant Acquiring Business to Euronet Worldwide Lawyer Monthly had the pleasure to speak with Constantinos Lambadarios, Partner at Lambadarios Law Firm to give us some further insight into this transaction:

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