Slovak legislation on personal data protection implementing the EU Data Protection Directive 95/46/EC is generally very strict when compared to the regulations of other EU Member states. These different rules – often, in Slovakia, excessively bureaucratic – resulting not only from legislation itself but also from its interpretation by the country’s Personal Data Protection Authority – often cause problems for both local entrepreneurs and international business groups with subsidiaries or branches in Slovakia.
Noerr has advised Aurelius Equity Opportunities SE & Co. KGaA on the sale of Germany's Secop Group to Nidec at a valuation of EUR 185 million. The firm's team includes contributions from its Bratislava office on matters of Slovakian law. The transaction is subject to approval by antitrust authorities.
Majernik & Mihalikova has advised private investor Patrick Hessel on his investment into AeroMobil, a Bratislava-based developer of flying cars. White & Case advised AeroMobil co-founder Stefan Klein on the deal, while co-founder Juraj Vaculik was represented by the Carpathian Advisory Group. The size and value of Hessel's stake in the company was not disclosed.
“The Slovak economy is, surprisingly, experiencing good times,” says Tomas Rybar, Partner at Cechova & Partners in Bratislava, despite political turbulence due to lasting issues relating to corruption and some of the xenophobic and anti-immigrant attitudes that have arisen in the country in recent years – as they have across Europe – and the rise of the far-right.
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Wilsons has acted on behalf of Reico Investicni Spolecnost Ceske Sporitelny in connection with its approximately EUR 35.5 million acquisition of the Park One office building in the center of Bratislava — the Amazon Headquarters — from the Falcon II Fund private investment company. The Zarecky Zeman firm advised the sellers.
Since former Of Counsel of Taylor Wessing Bratislava Lucia Zitnanska was appointed Slovak Minister of Justice in April 2016, the legislative changes prepared by her department have primarily been driven by the practical need to improve the enforceability of law and increase the importance of e-communication tools. To those ends, two major reforms concerning debt enforcement will enter into force in the first half of 2017.
Taylor Wessing has advised Warimpex Finanz- und Beteiligungs Aktiengesellschaft on the partial sale of its hotel portfolio to the Thai investor U City Public Company Limited. CHSH and Hogan Lovells advised U City on the transaction, which included participations in eight hotels in the Czech Republic, Poland, and Romania, two of which are partly (50%) owned by UBM Development AG.
BPV Braun Partners has advised the Austrian Raiffeisenlandesbank Niederoesterreich-Wien AG in extending a credit facility of EUR 32 million for the development of the new Einsteinova business center in Bratislava. Ruzicka Csekes advised the borrowers: Austrian real estate company S Immo AG and local partners KRON Real s.r.o. and SJP Invest, s. r. o..