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.
Glimstedt has advised DistIT AB on its EUR 1.2 million acquisition of an 80% stake in Sominis Technology UAB, a Vilnius-based distributor of PC, laptop, smartphone, and tablet accessories. Closing of the deal is contingent on various conditions, including approval from Lithuania's competition authority. Deloitte advised the sellers on the deal.
Sorainen Latvia, acting pro bono, is assisting the Latvian Trade Union of Education and Science Employees (LIZDA) in its claim that liquidation proceedings of the Riga Teacher Training and Educational Management Academy (RPIVA) are not legal. With Sorainen's assistance, LIZDA has asked policy makers in education and the parties involved to stop the liquidation of the academy, which was, the firm reports, "started in haste."
CMS Budapest has advised Balbec Capital LP and APS Holding on the financing and acquisition of a non-performing loan portfolio of residential mortgages from UniCredit. The total claim value of the portfolio is HUF 42.7 billion, or approximately EUR 139 million. Reti, Antall & Partners — the law firm associated with PWC in Hungary — advised UniCredit on the deal, which is one of the first residential mortgage portfolio sale and purchase transactions on the Hungarian market.
SPCG has persuaded the Court of Appeal in Warsaw to deny the appeal by the President of the Office of Competition and Consumer Protection (UOKIK) of a lower court's ruling reversing his determination that T-Mobile Polska S.A. had participated in an agreement with three other telecommunication operators to restrict competition.
CHSH Budapest has advised Vienna-based investment manager GalCap Europe on its acquisition of a renovated palais in the center of Budapest under its Eastern European mandate for an individual fund of a German pension scheme managed by Institutional Investment Partners. Lehoczky, Muszka es Szelei advised the unidentified private investor. The purchase price was not disclosed.
Cobalt has advised Santa Monica Networks Group on the sale of its Estonian and Finnish subsidiaries to the Elisa Corporation telecommunications company and its Latvian and Lithuanian subsidiaries to Livonia Partners. Bird & Bird advised the Elisa Corporation and Ellex Raidla advised Livonia Partners on the transaction, which is expected to be completed by May 1, 2017.
Tria Robit, working on behalf of Italian undertaking Ferrero S.P.A., has successfully opposed the international registrations by Ukrainian undertaking Dochirnie pidpryiemstvo "Kondyterska korporatsiia Roshen" with the word "Roshen" in them – subsequently designated to Latvia – on the basis that they created a likelihood of confusion with Ferrero's earlier international "Ferrero Rocher" figurative trademark registration and improperly imitated a well-known trademark.
Working alongside global counsel Mannheimer Swartling, Sorainen has advised Providence Equity Partners on the acquisition of the Baltic businesses of Swedish media holdings Modern Times Group. Allen & Overy advised Providence on financing for the acquisition. Cobalt — working alongside Sweden's Hamilton law firm — advised the Modern Times Group on the deal.
CMS has advised iCotton, a manufacturer of hygiene products in Eastern Europe, on its acquisition of a controlling 59.95% stake Harper Hygienics from Polish Enterprise Fund V, a private equity fund managed by Enterprise Investors. Gessel advised the sellers on the deal.
Slaughter and May has advised Attarat Power Company (APCO) and project sponsors Eesti Energia AS (EE) and YTL Power International Berhad (YTL) on the construction and project financing of a 554MW gross oil shale fired mine mouth power station and open cast oil shale mine in Attarat um Ghudran, Jordan.
Primus's Tallinn office has advised leading BaltCap on acquisition of 100% of Sanoma Baltics AS, the operator of the Estonian online classified sites auto24 and Kuldne Bors, from Sanoma Media Finland Oy. Sorainen advised the sellers and Cobalt advised the management of Sanoma Baltics AS on the transaction, which is expected to close in spring 2017 and the parties have agreed not to disclose the value of the transaction.
Eterna Law, working in cooperation with Maples and Calder in the British Virgin Islands and Matthew Hardwick QC (instructed by Maples and Calder Partner Arabella di Iorio), successfully appealed a lower court's ruling involving the discharge of a worldwide freezing injunction on behalf of clients Rustam Yusufovich Gilfanov and Sergey Aleksandrovich Tokarev in the Eastern Caribbean Court of Appeal (BVI Court of Appeal).