Strategic Advisory and Restructuring

Divestment strategy

Metropolitan defined an optimal divestment strategy (merger vs. separate sale) for two real estate companies. We recommended pooling selected real estate assets and floating the new company on the Warsaw Stock Exchange with the long-term strategy to create a REIT-type company, i.e. a real estate investment holding who owns rented office buildings, malls, and warehouses.

Privatization strategy

Metropolitan working closely with the Ministry of the Treasury evaluated a new auction platform to privatize small and mid-sized Treasury owned companies. The project was executed in close cooperation with the Warsaw Stock Exchange and brokerage houses.

Restructuring of an IT company

Metropolitan assisted a company in developing a restructuring plan amid financial losses and liquidity risk. Developed short term action plan to reduce costs and improve operations, assisted the company in negotiations with banks to extend credit lines.

"100 days program"

Metropolitan worked jointly with a leading PE fund and the target's Management Board during the first 100 days after acquisition of a new portfolio company to: take control, immediately prevent potential value destruction, launch short term improvements and define a 12 months restructuring plan for the management.

Equity story for an IPO

Metropolitan supported a portfolio company of a leading PE fund in defining its strategy and communication to external stakeholders. Evaluated market and company model, assisted in prioritizing growth options, prepared equity story.

Route to market for Dr. Gerard

Metropolitan worked with the management and the owners of Dr. Gerard, a leading Polish biscuit producer, on optimizing its channel strategy and its coverage of the Polish traditional retail trade, still a major part of the retail universe

Growth strategy for Drogerie Natura

Metropolitan advised the management and shareholders of Drogerie Natura, the second largest drugstore/ cosmetic store chain in Poland, on how to maximize its growth aspirations in the dynamic Polish formatted retail environment

Commercial due diligence of Lider SKG for Groupe Poult

Metropolitan assisted Groupe Poult of France, owned by LBO France, with a detailed commercial due diligence - both of the target and of the market - of Lider SKG, a leading Polish biscuit producer, prior to the acquisition

Business due diligence of PE targets

Metropolitan performed for international and Polish PE business due diligence of various targets, including players in financial services, telecom, consumer goods and retail.

Advisory to Reckitt Benckiser, a leading global FMCG

Wojtek Stankiewicz co-led the global account team, advised central and local management on aspects of growth, sales performance and cost management across a set of markets, including Poland, China, UK and US.

Turnaround of TP Group, the Polish telecom

Wojtek Stankiewicz played the lead role, ultimately as partner in charge, on a comprehensive multi-year turnaround and performance improvement program of TP Group. Focal pieces included growth strategy, setting up new businesses, new product development, organizational restructuring, cost reduction and cashflow improvement and regular counseling to top and middle management.

Sales turnaround of BGŻ Bank / Rabobank Group

Waldemar Maj led successful turnaround of institutional sales in corporate, SME, micro and Food & Agri market segments. Developed and implemented new strategy and operational plans for each market segment leading to a stop in market share loss and profitable growth of loan and deposit volumes at two times market average. The Bank obtained top award for "Bank friendly for entrepreneurs".

Operational turnaround of DZ Bank -

Waldemar Maj led successful turnaround of AmerBank, a mid-sized corporate bank. The Bank returned to profitability and the name was changed into DZ Bank Polska. As part of the turnaround, an IT core banking system was implemented in a record time of 7 months for which the Bank obtained the "Banking Gazette" award.

Restructuring financial structure of one of the largest listed CEE companies

Waldemar Maj, as CFO responsible for managing liquidity amid financial crisis developed a comprehensive liquidity management plan. New financing was successfully raised, including syndicated loans from Polish and international banks. The average maturity of the loans was increased, the liquidity was improved and the investment grade rating was retained.

Restructuring FX options exposure of a Polish listed company

Waldemar Maj successfully advised a client on restructuring an FX derivative exposure leading to an off-the-court settlement agreement signed with the bank. A long-term business plan was developed, with an estimate of FX exposure and cash flow enhancement opportunities. Designed and co-led the negotiation strategy.

Stock Exchange and capital markets compliance policy

Artur Kluz advised on securities compliance and capital market requirements for American Stock Exchange - New York Stock Exchange foreign listed companies. As a member of the Equity Department analyzed U.S. securities market and the foreign venture stock exchange's cost of equity (London Stock Exchange, Toronto Stock Exchange, SWX Swiss Exchange and Hong Kong Exchanges and Clearing).

New markets expansion

Artur Kluz provided strategic and legal advice for Polish, Swiss and German companies on their expansions into new markets such as United Arab Emirates, Qatar and Kuwait. He negotiated all transactions and was responsible for joint venture structuring, regulatory assessment, market entry and exit strategies.

Capital raising, equity story

Krzysztof Dresler as deputy chairman of the management board of PKO BP SA was responsible for capital raising process in 2009 amount to 5 bn PLN, and as a director of planning and controlling department took an active part In IPO of the bank in 2004.

Restructuring of companies with positions on fx options and other derivatives

Krzysztof Dresler as deputy chairman of the management board of PKO BP SA responsible for risk and collection, and at the same time chairmen of the central credit committee was in charge of the restructuring process of companies who kept over hedge positions in FX derivatives in 2009.

Bond issuing on the wholesale market

Krzysztof Dresler as deputy chairman of the management board of PKO BP SA took an active part in the process of issuing Eurobond on the wholesale market in Europe.