CEE M&A Monitor
Financial services Poland Minority stake — conditional agreement signed 2 Oct 2026

Getin Holding signs conditional deal to buy 35% of FaktorOne from Idea Bank's bankruptcy estate

Getin Holding S.A. reported that on 2 October 2026 it signed a conditional agreement with the bankruptcy trustee of Idea Bank S.A. in bankruptcy, with Noble Securities acting as investment firm, to buy 3,774,107 shares of FaktorOne S.A., representing 35% of the share capital and votes. The price has three parts: PLN 2.5 million payable at closing; a deferred PLN 0.7 million payable after 31 December 2028 and no later than 31 January 2029; and a contingent component equal to half of a tax refund FaktorOne may receive after a specified tax dispute ends, net of the costs of obtaining it and of the deferred price actually paid, due only if the dispute ends after 2 January 2029. Transfer of the shares requires the consent of the judge-commissioner in Idea Bank's bankruptcy, expected by 16 October 2026. The report refers to Getin's earlier report 24/2025 of 15 September 2025.

Our take The structure is the interesting part. Buying from a bankruptcy estate, the buyer pays a fixed amount up front, defers part of the price by more than two years, and splits a contingent asset — a possible tax refund — with the seller instead of pricing it in today. That is a common way to bridge a valuation gap when part of the value depends on a pending dispute. Court consent, not a corporate approval, is the condition to watch.
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