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News from Members RTPR advises Orange Money on signing the transfer of business to Alpha Bank

RTPR advises Orange Money on signing the transfer of business to Alpha Bank

by RTPR | Radu Tărăcilă Pădurari Retevoescu SCA August 25, 2023


RTPR has assisted Orange Money Romania, part of Orange group, in relation to the transfer of its retail business to Alpha Bank Romania. Launched in 2016 on the Romanian market, Orange Money is a digital alternative to traditional banking services in Romania, offering a complete digital experience for financial operations. The transaction will be finalised after the fulfilment of the conditions precedent agreed by the parties.

Following this transaction, Orange Money customers will continue to benefit from end-to-end digital financial services, as part of Alpha Bank Romania.

The RTPR team that provided advice on this project was made of Costin Taracila (Managing Partner), Cristina Enaga (Counsel), Diana Dimitriu and Ana Maria Barbu (Senior Associates).

The role of RTPR lawyers was essential to the success of this transaction. We found a long-term partner in the RTPR team, and together we identified the most suitable solutions in a complex project with a positive impact on the future of Orange Money’s customers and teams. Their experience in the field, their professionalism, involvement, as well as their speed and ability to respond, were of great help to us and made us feel that we have a reliable partner by our side. The strategic path of Orange Money has always been geared towards integrating the application and its products into a banking ecosystem and, in order to achieve this goal, we signed the transfer of the retail Orange Money business to Alpha Bank Romania. Alpha Banks expertise will provide continuity to our customers, and their banking products will also enhance the suite of services to which Orange Money users have access today”, said Haris Hanif, Orange Money Romania CEO.

We are pleased to have contributed to the success of this complex deal. Congratulations and thanks to the Orange Money team for their trust”, declared Cristina Enaga, Counsel at RTPR.

We would like to thank Orange Money Romania for putting their trust in us and congratulate them for signing this transaction. We are sure that the digital banking business developed by Orange Money will continue to offer innovative products to its users as part of Alpha Bank Romania”, declared Diana Dimitriu, Senior Associate at RTPR.

RTPR’s Corporate/M&A team is well known for its extended transactional experience. In 2022, RTPR signed 26 M&A transactions, out of which 10 private equity deals. Legal 500, Chambers & Partners and IFLR1000, the most reputed international legal directories, rank RTPR’s Corporate/M&A practice in first tier in the annual rankings for the law firms in Romania. At the same time several of the team’s lawyers are recommended as Leading Lawyers or Rising Stars in individual rankings produced by these publications.

Selected corporate/M&A deals in which RTPR have recently advised are set out below:

  • Romcim, part of the CRH Group, on the acquisition of Bauelemente Reinvest S.R.L. and its fully owned subsidiary, Bauelemente S.R.L., the market leader manufacturer of prefabricated reinforced and prestressed concrete in Romania
  • AS Piletilevi Group on the acquisition of a majority stake in Departamentul Logistic Event S.R.L., the owner of the website
  • Innova Capital on the acquisition of a majority stake in EMI (EMI Equipement Maintenance Industrie S.A.), market leader in industrial access systems
  • Sarmis Capital on the acquisition of a majority shareholding stake in BMF Grup, the largest integrated facility management company on the Romanian market
  • Regina Maria on the acquisition of a majority shareholding stake in the stomatology clinics chain Dr Leahu
  • Innova Capital on the acquisition of a majority stake in NETOPIA Group, one of the best known payment service providers (PSP) in Romania
  • AROBS Transilvania Software, an important Romanian company that provides software services and solutions in various industries, on the acquisition of the Future WorkForce Global group, specialised in providing complex business process automation solutions
  • GreenGroup, a company in the portfolio of private equity fund Abris Capital Partners, on the acquisition of UAB Zalvaris, the largest industrial waste management company in Lithuania, as well as on the acquisition of UAB Ecso, a Lithuanian LDPE (Low Density Polyethylene) recycling company
  • Enterprise Investors on the sale of Noriel, the largest toys and games retailer in Romania, to Sunman Group
  • Jean Valvis on the strategic agreement between AQUA Carpatica, the premium Romanian spring water owned by Carpathian Springs SA company, and the American corporation PepsiCo for a 20 percent equity stake in AQUA Carpatica

About Orange Money Romania

Orange, the leader of the telecom market in Romania, launched in 2016 Orange Money, a 100% digital alternative to traditional banking services. The Orange Money allows clients to transfer money and pay bills without fees, based on an easy-to-use, secure and intuitive interface. In a few minutes, Orange Money users can open a current account in RON with their own IBAN, and can immediately make transfers in the country or abroad, online payments or payments with the smartphone or smartwatch by using the virtual debit and credit cards. The Orange Money credit card provides customers with packages with extra benefits that can be accessed depending on their payment needs and lifestyle. Data verification, credit line approval, document signing, and virtual credit card issuance are simple and fast from the smartphone. For more info about Orange Money Romania:

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