GESSEL provided comprehensive legal support in the transaction for merger within the Przelewy24 group of Currency One S.A., Poland’s largest operator of online currency exchange platforms with annual turnover in excess of PLN 14 billion.

Currency One operates the Internetowykantor.pl and Walutomat.pl services; it has repeatedly received accolades for its innovative solutions in the online currency exchange market, and it is recognised as a leading non-bank entity in this field. Currency One’s customer base already encompasses over 450,000 customers who exchanged PLN 14 billion in 2016 alone.

Przelewy24 is a member of a Polish internet services group. Its eponymous service enables online settlements in the e-commerce market and has a user community of over 60,000.

GESSEL advised Przelewy24.pl on all successive stages of the transaction, including due diligence, devising the transaction structure, drafting of the transaction documentation, and settlement through a brokerage house.

The GESSEL team working on this project was led by Michał Bochowicz, advocate, with input by Klaudia Krawiec-Guz, trainee attorney. Due diligence was performed by a team headed by Michał Boryczka, managing associate; Inarda Bielińska, attorney and Michał Osowski, trainee attorney also contributed. Overall supervision was exercised by Małgorzata Badowska, partner.