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50 New Articles

The Esin Attorney Partnership and Baker McKenzie's Paris office have advised Akbank T.A.S. in relation to its USD 404,512,884 and EUR 738,271,106 Dual Currency Term Loan Facilities. Balcioglu Selcuk Akman Keki Attorney Partnership and Dentons advised Joint Coordinators and Bookrunners Bank of America Merrill Lynch International Limited, Emirates NBD Capital Limited, and ICBC Turkey Yatirim Menkul Degerler A.S. on the transaction. Bank of America Merrill Lynch also acted as Documentation Agent, while Emirates NBD Capital Limited acted as Publicity Agent and Mizuho Bank acted as Facility Agent.

Baker McKenzie and its Turkish arm, the Esin Attorney Partnership, have advised Akbank T.A.S., one of Turkey's largest banks, on the offering of USD 500 million Basel III compliant Tier 2 Notes under Akbank's USD 3.5 billion Global Medium Term Note Program. This represents the first Tier 2 Notes issue in Turkey this year. The Notes have a fixed term of 10 years and an early call option at year 5.

The Deal:

In October 2016, CEE Legal Matters reported that Baker & McKenzie had advised European payment and transactional services provider Worldline on its agreement with Komercni Banka, a subsidiary of the Societe Generale Group, to develop products and services for Czech and Slovakian merchants. CMS advised Komercni Banka on the deal. We reached out to Baker & McKenzie Partner Libor Basl and Associate David Reiterman, both in the firm’s Prague office, for more information.

Attorneys tend to navigate their clients through stormy legal waters so that clients do not crash on the rocks of Scylla. But how good are we leaving the paternalistic client-care world and trying to navigate our own destiny in terms of our legal business facing the reality of severe competition, pricing pressure, and the legal profession becoming just a commodity?

In The Corner Office, we invite Managing Partners at law firms from across the region to share information about their careers, management styles, and strategies. For this issue, we asked them to describe the first major deal or client matter they generated themselves, and how they did it. 

Although the economic crisis has significantly slowed down the financial sector’s M&A activity in Ukraine with nearly 90 (of the 180 existing before 2014) commercial banks becoming insolvent or being taken over by the state, several banking cross-border equity transactions closed in recent years are paving the way towards the market’s gradual recovery.

On December 19, 2016, Resolution of the Cabinet of Ministers of Ukraine No. 921 "On Approval of the Procedure on Organization and Maintaining Military Records of Conscripts and Reservists", dated December 7, 2016, came into effect (the "Procedure").  

CMS, working alongside Sidley Austin, has advised Mid Europa Partners on its sale of Alpha Medical, a prominent provider of laboratory testing services in the Czech Republic and Slovakia, to Unilabs. The sale price was not disclosed. Baker & McKenzie reportedly advised Unilabs on the the transaction, which remains subject to customary clearance by local competition authorities and is expected to close in Q2 2017.

Baker McKenzie has advised Ceskoslovenska Obchodni Banka on its provision of a loan facility to Denemo Media for its EUR 116 million acquisition of Modern Times Group's 50% shareholding in FTV Prima Holding, the second largest private Czech broadcaster. The share acquisition by Denemo media, which remains subject to Czech regulatory approval, is expected to close in the first quarter of 2017 and will return FTV Prima entirely back to Czech ownership.

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