The Bucharest office of the regional law firm Wolf Theiss assisted BT Investments, a member of Romania's largest financial group, Banca Transilvania Financial Group, in the sale of its 100% shares held in BT Operational Leasing, a company offering operational leasing and car rental services. The purchasers are two companies from Autonom group, the largest mobility network in Romania.
The transaction was signed on the 27 April this year and was successfully finalized on 29 June 2018. Banca Transilvania Financial Group sold BT Operational Leasing to Autonom group and established a partnership with Autonom through which the banks clients will have access to an extended mobility package, including leasing, fleet management, road assistance, auto rentals and rental of cars with drivers.
Wolf Theiss assisted BT Investments in connection with the entire competitive sale process. This ranged from the incipient stages of process letters and information memorandum, throughout establishing the virtual data room or during potential buyers due diligence investigations, throughout non-binding and binding offers up until the preparation and negotiation of the sale purchase agreement and ancillary transactional documents, to reach signing and ultimately the successful completion of the deal.
"This year we had several transactions with a significant impact in the M&A area, Banca Transilvania group being in several occasions a buyer, whilst in the project closed last Friday, 29 June 2018, we were a seller. For this latter transaction, we had on board teams of consultants from Wolf Theiss and BT Capital Partners, who not only came with top quality services, but also with a results oriented approach, which played a determining role in the successful completion of the sale process regarding BT Operațional Leasing" said Mihaela Nadasan, director of BT Investments.
"We have greatly enjoyed and appreciated this transaction. It was run by incredibly fast-moving decision makers and steered by a professional team of advisors from BT Capital Partners. We live very effervescent times in M&A, we closed two deals in just one week, however the sale of BT Operational Leasing stands very dear to us, as a model of professionalism and efficiency", stated Ileana Glodeanu, Wolf Theiss Partner and Coordinator of the Corporate / M&A team of the Bucharest office.
The Wolf Theiss Bucharest team of lawyers who worked on this transaction on behalf of the seller was coordinated by Partner Ileana Glodeanu and included Senior Associate Mircea Ciocîrlea and Associates Luciana Tache and George Ghitu.
Besides BT Investments, Banca Transilvania Group includes lender Banca Transilvania [BSE: TLV], BT Capital Partners, BT Leasing, BT Asset Management, BT Direct and BT Leasing MD.