NNDKP has provided legal counsel to a syndicate of banks on a EUR 24 million financing granted to the Pehart Tec Group. Clifford Chance advised the borrower on the deal.
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.
On November 17, 2016, CEELM reported on the merger of two shopping malls in Romania – Bucuresti Mall and Plaza Mall – owned and operated by the real estate and development company Anchor Group. We reached out to Mihaela Marin, the Head of Legal Department at Anchor Group, who agreed to elaborate on the merger.
Clifford Chance's Prague office has advised CBRE Global Investors, a Fortune 500 real estate company with offices in more than 64 countries worldwide, on the sale of its high-quality retail portfolio in Central and Eastern Europe to CPI Property Group (CPI). Dentons advised CPI on the transaction, which is valued at over EUR 600 million and will see properties including 11 shopping centers change hands across the Czech Republic, Poland, Hungary, and Romania.
Biris Goran has advised AdamAmerica Europe on its acquisition of Construdava, a 9,400 square meter office building located on Pipera-Tunari Road, in the North-East of Bucharest, from Commerzbank AG and Aberdeen Asset Management. CMS advised the sellers on the deal, which was signed in October, 2016, and closed at the end of December, 2016
Musat & Asociatii has assisted Emerson S.R.L., the Romanian subsidiary of Emerson Electric, with the separation of Emerson Network Power for the purpose of its transfer to the American investment fund Platinum Equity. The transaction was made at global level and amounted to approximately USD 4 billion.
In 2016, the Romanian Financial Supervisory Authority (FSA) has continued to harmonize the standards of integrity, transparency, and prudent management applicable to all the entities under its supervision: capital market entities (i.e., investment firms, asset management companies, undertakings for collective investment, central depositories, market operators, clearing houses, and central counterparties), insurance/reinsurance companies, and private pension fund managers.
Allen & Overy has advised South Africa-based Internet and entertainment group Naspers on its sale of the comparison shopping engines Arukereso.hu, Compari.ro, and Pazaruvaj.com to the Rockaway Group. Dentons reportedly advised the buyers on the deal, which consolidated the e-commerce markets within the CEE region.
In our new Marketing Marketing feature, introduced in this issue, we ask our law firm marketing and business development friends across CEE to share their experience and perspectives on their profession. The premier question is a simple one: If you had three more hours in the day at work, what one part of your job would you prioritize in that extra time?
Norton Rose Fulbright has advised Inter Cars S.A. and its group companies on a PLN 1.1 billion loan facility. Clifford Chance, working with Tark Grunte Sutkiene (TGS), Divjak, Topic & Bahtijarevic (DTB) and Montanios & Montanios, advised Bank Pekao S.A. (agent), mBank S.A. (security agent), and Bank Handlowy w Warszawie S.A. (Citi Handlowy), ING Bank Slaski S.A., Bank BGZ BNP Paribas S.A., DNB Bank, and Caixa Bank as mandated lead arrangers on the facility.
RTPR Allen & Overy has advised Raiffeisen Bank and Wood & Company Financial Services as managers on Medlife’s IPO, the biggest private IPO in Romania. Medlife was advised by Schoenherr. Allen & Overy reports that this is the largest private IPO in the history of the Bucharest Stock Exchange.
Wolf Theiss, working as local counsel for CEE to Cleary Gottlieb Steen & Hamilton, has advised Amundi on its acquisition of Pioneer Investments from Unicredit for an all-cash consideration of EUR 3.545 billion. UniCredit was advised by Gianni, Origoni, Grippo, Cappelli & Partners.
A&O has advised Asahi Group Holdings, Ltd. on its share purchase agreement with Anheuser-Busch InBev to acquire businesses formerly owned by SABMiller Limited (formerly SABMiller plc) in the Czech Republic, Slovak Republic, Poland, Hungary, and Romania and other related assets that were owned by SABMiller prior to its combination with AB InBev. The transaction has an enterprise value of EUR 7.3 billion, subject to customary adjustments. Freshfields Bruckhaus Deringer advised AB InBev on the deal, as well as on its combination with SABMiller and across the related disposal commitments made to competition authorities.
PeliFilip has announced that former Schoenherr lawyer Catalin Suliman has joined the Romanian firm as Partner and coordinator of the Competition Law practice.