Weil advised Polski Standard Płatności sp. z o.o., the operator of the BLIK system, in connection with the accession of Mastercard to PSP as an investor and the start of commercial collaboration between Mastercard and PSP.
Shares in PSP are currently held by six banks: Alior Bank, Bank Millennium, Santander Bank Polska, ING Bank Slaski, mBank and PKO Bank Polski. After the conditions indicated in the contract are fulfilled, Mastercard will purchase newly-issued shares in PSP and become its seventh shareholder.
BLIK is a Polish mobile payment system that enables mobile banking application users to make payments at points of sale and for online purchases, to make cash withdrawals and deposits at ATMs, and to make instant mobile transfers.
The Weil team was supervised by Co-Managing Partner Pawel Zdort (Picture), and the team also comprised associates Katarzyna Lukaszewicz and Lukasz Czujko and law clerk Aleksander Jakubisiak. Partner Iwona Her and associate Irmina Trybalska were in charge of antimonopoly advice relating to the transaction.
Involved fees earner: Lukasz Czujko – Weil, Gotshal & Manges; Iwona Her – Weil, Gotshal & Manges; Aleksander Jakubisiak – Weil, Gotshal & Manges; Irmina Trybalska – Weil, Gotshal & Manges; Pawel Zdort – Weil, Gotshal & Manges; Katarzyna Łukaszewicz – Weil, Gotshal & Manges;
Law Firms: Weil, Gotshal & Manges;
Clients: Polski Standard Płatności;