Schoenherr served as lead counsel to the shareholders of Volksbank Romania S.A. (“VBRO”) - Österreichische Volksbanken-AG (VBAG), Groupe BPCE, DZ BANK AG and WGZ BANK - on their agreed sale of VBRO to Romania’s third-largest bank, Banca Transilvania SA. Signing of the contracts took place on 10 December 2014. The closing of the transaction is subject to approval by the National Bank of Romania and the Romanian competition authority and is expected within the first half year of 2015.

About Volksbank Romania: VBRO has 135 branches, 190,000 clients and total assets of EUR 3.1 billion. VBAG holds a 51.0% interest in VBRO, Groupe BPCE 24.5%, DZ BANK AG 16.36% and WGZ BANK 8.14%

The Schoenherr team advising the vendors was led by Markus Piuk (partner; Corporate/M&A) and included Madalina Neagu (partner, Bucharest; Corporate/M&A), Matei Florea (partner, Bucharest; Banking & Finance), Catalin Suliman (partner, Bucharest; EU & Competition), and Clemens Leitner (associate; Corporate/M&A).

Rothschild & Cie served as financial advisors to the vendors.