Vectra S.A.’s Acquisition Of Multimedia Polska S.A.

Norton Rose Fulbright’s Warsaw and London lawyers advised one of the largest syndicates recently formed by domestic and international financial institutions on complex financing arrangements for Grupa Vectra and Grupa Multimedia Polska members.

Funding the purchase of all shares in Multimedia Polska S.A. by Vectra S.A. was a primary purpose of this syndicate, which included Bank Polska Kasa Opieki S.A., BNP Paribas Bank Polska S.A., EBRD, Powszechny Zaklad Ubezpieczen S.A., PZU Zycie S.A., PZU FIZAN BIS 1, Bank Millenium S.A., DNB Bank Polska S.A., DNB Bank ASA, Santander Bank Polska S.A., ING Bank Slaski S.A., Credit Agricole Bank Polska S.A. and mBank S.A.

The financing was arranged by BNP Paribas and Bank Polska Kasa Opieki S.A., and the latter additionally acted as agent and security agent.

Vectra S.A. is one of the leading cable operators in Poland, providing access to analogue and digital cable television, broadband internet and mobile and landline communication services.

The acquisition of Grupa Multimedia Polska will make Grupa Vectra the largest cable service provider in Poland with 1.7 million subscribers and 4.4 million households in its reach.

The Warsaw team was led by senior associate Jacek Smardzewski and included senior associate Marta Kawecka, associate Oskar Sula, associate Jan Ptaszynski, associate Igor Kondratowicz and an intern Michal Rutkowski. Banking partner Grzegorz Dyczkowski (Picture) supervised the team, which was supported by partner James Dunnett and legal consultant Ksenia Orlova in London.

The lawyers in Warsaw drafted and negotiated complex financial documentation under English and Polish law and coordinated cooperation with the London office.

Grupa Vectra was advised by Rymarz Zdort (previously Weil, Gotshal & Manges), Grupa Multimedia Polska was advised on refinancing by Allen & Overy, and creditors of Grupa Multimedia Polska being refinanced were advised by Greenberg Traurig.

Involved fees earner: James Dunnett – Norton Rose Fulbright; Grzegorz Dyczkowski – Norton Rose Fulbright; Igor Kondratowicz – Norton Rose Fulbright; Marta Kawecka – Norton Rose Fulbright; Jan Ptaszy?ski – Norton Rose Fulbright; Jacek Smardzewski – Norton Rose Fulbright; Oskar Sula – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: Bank Millennium; Bank Pekao S.A.; BNP Paribas Bank Polska S.A.; Credit Agricole Bank Polska S.A. ; DNB Bank ASA; DNB Bank Polska S.A; European Bank for Reconstruction and Development; ING Bank Slaski S.A.; mBank S.A.; Powszechny Zak?ad Ubezpiecze? S.A.; PZU; Santander Bank Polska S.A.;

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