Stratulat Albulescu advises SIBS on the acquisition of Wirecard companies in Romania

Stratulat Albulescu has advised SIBS, a major payment processor operating in Europe and Africa, on the acquisition of Wirecard companies in Romania, namely Wirecard Romania (previously Provus Service Provider), Romcard and Supercard Solutions & Services. At the same time, SIBS also acquired the branch established by Wirecard Romania in Moldova.

Stratulat Albulescu was SIBS’ lead legal counsel on the deal, and worked closely with other top tier law firms in Germany and Moldova on specific legal aspects of the deal which related to those jurisdictions.

The Stratulat Albulescu team was coordinated by Managing Partner Silviu Stratulat and Counsel Octav Stan and included a large number of lawyers who provided legal advice and assistance on the buy side due diligence and on the transaction documents.

Mr Hélder Neves, CFO of the SIBS Group, commented on the transaction saying: “We are glad to enter the Romanian market through this important acquisition which marks the beginning of a new development phase for SIBS, one of the top European payment players, in the CEE region. Stratulat Albulescu was on our side as lead legal counsel in this demanding and complex M&A project. Their dedicated team met all our expectations and was instrumental in the completion of the transaction within a very challenging timeframe.”

Managing Partner Silviu Stratulat also stated: “It was a pleasure working with the SIBS team on this exciting project. We were impressed with their expertise and professionalism. SIBS’ presence in Romania will definitely bring extra value to the payment services market.”

Counsel Octav Stan added: “We are very proud that we were able to contribute to the success of this transaction. We would like to express our gratitude to SIBS for entrusting us with this important project.”