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.
Dentons has advised the BNP Paribas Group in connection with the sale of its Serbian bank subsidiary, Findomestic Banka a.d., to Serbian bank Direktna Banka A.D. Kragujevac. Zdravkovic & Partneri reportedly advised Direktna Banka on the deal. The deal was signed on November 18, 2016 and closed on January 31, 2017, The purchase price was not disclosed.
Wolf Theiss, working alongside global counsel Paul Hastings, has provided local Austrian counsel to international real estate investor Invesco Real Estate on its sale of a portfolio of hotels to the hotel operator Pandox AB. Wolf Theiss was responsible for executing the sale of Invesco's Austrian hotels, located at Vienna International Airport and in Salzburg.
Kinstellar teams in Bucharest, Budapest, and Prague have worked alongside international counsel Sidley & Austin in advising Nidec, a leading Japanese manufacturer of electric motors, on the acquisition of Leroy-Somer and Control Techniques from Emerson Electric Co. Motors, a US provider of products and services for a wide range of industrial, commercial, and consumer markets. The transaction, valued at USD 1.2 billion, involved several jurisdictions across Europe, USA, and Asia and is part of Nidec’s strategy to expand its industrial and commercial business in Europe.
Acting on behalf of the Austrian National Union of Students, CHSH has represented a Czech student and a German student in their challenge of the practice of having family allowance notionally deducted by authorities when calculating financial aid for higher education studies granted to foreign students in Austria. The practice, according to CHSH, "has frequently resulted in a significant reduction in financial aid granted to students."
Ellex has advised European vending and coffee services company Selecta Group on the sale of its Baltic subsidiaries to BaltCap Private Equity Fund II, managed by BaltCap. Cobalt advised BaltCap on the deal, which remains subject to the approval of the competition authorities. The transaction price was not disclosed.
Selih & Partnerji, working alongside lead counsel Clifford Chance, has advised a group of Asian investors represented by United Luck Group Holdings Limited (led by Chinese businessman Ou Yaping), on their USD 1 billion acquisition of Outfit7 Investments Ltd., the app producing company established by Slovenians Iza and Samo Login, which is best known for its globally successful app Talking Tom and Friends. Taylor Wessing advised the sellers on the deal.