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Skils represents MONETA Money Bank in the acquisition of the Air Bank Group from PPF in the largest transaction in Czech banking sector of the last decade.
Skils advises MONETA Money Bank on the acquisition of Air Bank and Czech and Slovak Home Credit from the PPF Group in the largest transaction in Czech banking sector of the last decade.
The transaction is unique not only due to the scope with a purchase price of CZK 25.9 billion, but also the method of financing when the majority of the price will be covered by the proceeds from public offerings of new shares to the existing shareholders of MONETA Money Bank. This issue of new shares in MONETA Money Bank will be the first of its kind on the Czech capital market.
For MONETA Money Bank, with more than 17,000 shareholders, this is a groundbreaking acquisition that will make it the leader in Czech retail banking and the third largest Czech bank with 2.5 million clients and a balance sheet total exceeding CZK 500 billion.
The acquisition of the Air Bank Group was approved by MONETA Money Bank’s shareholders in December 2021 and its settlement is subject to approval by banking and competition law authorities.
The transaction is regularly reported on by all major economic media agencies, including Bloomberg or Reuters, and in the Czech Republic, for example, by E15, Seznam Zprávy and Forbes. The transaction is also covered by the renowned online magazine CEE Legal Matters, which monitors the markets for legal services in Central and Eastern European countries.
