Tsvetkova Bebov & Partners have advised the sellers on the sale of 100% of the shares in the capital of Transact Europe Group to GreenBox POS.
April 12, 2022
The circa $28 million transaction closed in early April, 2022. The closing followed clearance of the transaction from the Bulgarian National Bank and the Commission for Protection of Competition, as well the meeting of a range of other CPs.
Transact Europe EAD is a globally active e-money institution licensed by the Bulgarian National Bank. The buyer, GreenBox POS, is a leading US FinTech company listed on NASDAQ.
James Bergman, Outgoing Chairman and Shareholder, Transact Europe Group, commented: “We have already seen over the past few months the depth and breadth of new merchants and partner opportunities that GreenBox is adding to Transact Europe. These substantial volumes and excellent margins, make it clear how successful GreenBox will be in their ownership. We wish them every success.”
“This acquisition is a momentous triumph for us, representing the most significant asset to date for GreenBox, allowing us to propel forward as a significant player in the European and global marketplace,” said Ben Errez, Chairman of GreenBox POS.
TBP team included Managing Partner Nikolay Bebov and Counsel Maria Karacholova. Managing Associate Eleonora Mateina, Senior Associate Anastasiya Grunova and Senior Associate Martina Dimitrova assisted on several specific workflows. James Bergman stated, “Nikolay and Maria were available to us around the clock, often late into the night. The Buyer is on the West Coast of the US which is 10hrs behind Sofia, but the TBP team were always available and provided excellent counsel at all times. A core component of the transaction closing was TBP’s skill set, knowledge and guidance.”