As part of the BNP Paribas group strategy to simplify the legal structure of the personal finance activities and to generate synergies between its operations in the CEE, alongside with Allen & Overy Paris, we advised BNP Paribas Personal Finance S.A. on all aspects of its cross-border merger with its Bulgarian subsidiary BNP Personal Finance EAD. The multistage assignment involved provision of structuring, regulatory and corporate advise, including with respect to the passporting of the activities of BNP Paribas Personal Finance S.A. through the opening of a new branch in Bulgaria under the provisions under the Bulgarian Credit Institutions Act as well as the transfer of the services and licenses of the BNP Personal Finance EAD to the surviving entity, which in turn were pushed down on the Bulgarian market through the launched branch. The transaction strengthened the leading position of the firms’ banking regulatory practice on the Bulgarian market. The highly experienced team was co-led by counsel Nadia Hadjova and Managing Partner Georgi Spasov and included Ina, Peter and Nayden.

Date: January 2018

Source: Spasov & Bratanov Lawyers’ Partnership