DLA Piper assisted Bank Leumi Israel in completing the transaction with First Bank

The sale of all the shares held by Bank Leumi Ie-Israel B.M. in its Romanian subsidiary to First Bank has been completed following the approval of the transaction by the Competition Council and by the National Bank of Romania. DLA Piper assisted Bank Leumi Israel throughout this process that involved significant amount of documents to be prepared in relation to its completion. The flexibility and notable experience of DLA Piper lawyers in headline transactions in the Romanian and CEE market, as well as DLA Piper's long-lasting relationship with Bank Leumi Israel played an important role in preparing and finalizing the transaction in record time.

DLA Piper Country Managing Partner Marian Dinu, who led on this transaction, said: "We are honoured to have assisted Bank Leumi in finalizing the transaction. Our firm's M&A and banking law expertise and knowledge of the market enabled us to provide the dynamic assistance required for the completion of the transaction. We always focus on the client's objectives and strive to innovate in order to achieve them efficiently."

"We were looking for highly professional support and very rapid reactions to complete the transaction. DLA Piper team assumed full responsibility for this role and steadily took the initiative to find solutions and close the deal." added Hanan Friedman, First Executive VP & Head of Strategy, Innovation and Transformation Division of Bank Leumi Israel.

DLA Piper cross-practice team has been led by Marian Dinu (Country Managing Partner) and Paula Corban-Pelin (Counsel, Corporate M&A), alongside Georgiana Stan (Senior Associate, Finance, Projects & Restructuring), Ciprian Frandes (Associate, Corporate) and Romina Iancu (Associate, Corporate).