Austria/Croatia: Schoenherr advises Global Payments on extension of joint venture with Erste Group to Croatia

The signing of the transaction was on 30 July. The closing is subject to regulatory conditions, including approval by the competent merger control authorities and the Croatian national bank. Schoenherr advised on all legal aspects of the transaction, including due diligence, negotiation of the transaction documentation and advice on regulatory matters.

Based in the United States, Global Payments Inc. helps businesses around the world facilitate commerce and provide exceptional experiences to their customers. The company's payment technology and software solutions enable merchants, issuers and developers to deliver seamless customer experiences, run smarter operations and adapt quickly to change.

Erste Card is currently solely owned by Erste Bank Croatia, a member of Erste Group, a leading financial services provider in the eastern part of the European Union. The company has a long tradition in the cards payments business and successfully operates in the card acceptance segment in the Croatian market.

The Schoenherr team advising Global Payments on all legal aspects of the transaction was led by Maximilian Lang (partner), and further included Ivan Einwalter (partner), Dina Vlahov Buhin (counsel), Ana Mihaljević (attorney at law), Dino Rakić (associate), Doroteja Šturm (associate), Anna Kučerová (associate), Volker Weiss (partner) and Jan Kupčík (attorney at law).

The sellers were advised by Buterin & Partners law firm, Ltd. Zagreb.