Wolf Theiss advised BGK (Bank Gospodarstwa Krajowego) on the financing of OT Logistics’ expansion in Croatia.

The PLN 125 million (EUR 30 million) BGK loan will be used to finance acquisition of Luka Rijeka d.d., the operator of the port in Croatia. The first tranche of the facility in the amount of PLN 46.6 million will be used to acquire an 11.75% stake of shares in the target company. Financing the foreign expansion of Polish companies is one of the strategic tasks of Bank Gospodarstwa Krajowego.

OT Logistics acquired the shares on September 7, 2017 by way of a block trade transaction concluded on the Zagreb Stock Exchange after a prior selection of its bid in a tender organised by the Croatian government.

“We are excited to be a part of this pioneering project in which a Polish company has acquired a stake in the largest port in Croatia. Financing this type of transaction is also a flagship task of BGK, which is a member of the Polish Development Fund,” said Stefan Feliniak, who led the Wolf Theiss team advising BGK.

Ron Given, Co-Managing Partner of the Wolf Theiss Warsaw office, added: “With its long and wide presence in the CEE/SEE region, Wolf Theiss was able to provide comprehensive legal services under both Polish and Croatian law, and we actively participated in the establishment of the final financing structure.”

Together with Stefan Feliniak, the team included lawyers: Dariusz Harbaty, Piotr Ziółkowski and Klaudia Dąbrowska of Wolf Theiss Warsaw, and Luka Tadić-Čolić, Vedrana Iveković, and Lucia Mocibob of Wolf Theiss Zagreb.