On December 20th, 2016, CEE Legal Matters reported that the Slovenian metal-processing company UNIOR had completed a syndicated debt refinancing process with a group of six banks. We interviewed Darko Hrastnik, the Chairman of the Board and CEO at UNIOR, who was directly responsible for handling the transaction and managing the external counsel.
Currently, one of the main issues in Slovenia is the ruling in late October 2016 of the Constitutional Court of Slovenia regarding constitutional rights violations suffered by investors in five major Slovenian banks when both their equity capital and the subordinated instruments were written off as a result of extraordinary measures exercised by the Bank of Slovenia between December 2013 and December 2014 as a result of the systemic banking crisis.
In accordance with the Central Credit Register Act (Official Gazette of the Republic of Slovenia, No. 77/16; "ZCKR"), the Bank of Slovenia established a centralised database of the indebtedness of private individuals and business entities (Central Credit Register; "CKR") in order to enable more efficient managing of credit risks and ensure more vigilant lending.
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.
CEE Equity Partners, the Investment Advisor to the China Central and Eastern Europe Investment Co-operation Fund, has announced the completion of an investment by the Fund in Javna Razsvetljava d.d. and JRS d.d., which it describes as "market leaders in design and implementation of public lighting and signaling solutions, including Energy Service Company-based contracting, in Slovenia."
Selih & Partnerji is reporting that it advised Slovenia's Paloma d.d. on the equity capital increase into the company by ECO-Investment, a.s., (Czech Republic) in the amount of EUR 18.2 million at the price of EUR 4.01 per share. The equity capital increase procedure was conducted by Erste Group Bank AG and P&S CAPITAL, which served as financial advisors to Paloma.
ODI has represented a consortium of NLB, Banka Koper (Intesa Sanpaolo Group), Sberbank, Abanka, NKBM and Gorenjska Banka on a EUR 113 million syndicated debt refinancing of UNIOR, an advanced international company in metal-processing filed and active in tourism. UNIOR was represented by Rojs, Peljhan, Prelesniki & Partners.
Schoenherr Slovenia Partner Eva Skufca says Slovenia currently has two major issues on its Competition agenda.
Schoenherr, working with Italy's Legalitax firm, has advised Tecnopool S.p.A. on the acquisition of a 100% stake in Gopek d.d., the Slovenian holding company of the Gostol Group. The transaction, which entailed a block sale of shares held by over 100 (former) shareholders of Gopek, was signed and closed simultaneously on November 25, 2016 in Ljubljana. The parties agreed to keep the purchase price confidential.
On October 18th, 2016, CEELM reported that Slovenian start-up Creatriks had successfully obtained an investment from Speedinvest II International GmbH. We reached out to Creatriks COO & Co-founder Aljaz Ketis to find out how the investment was obtained.
In “The Buzz” we interview experts on the legal industry living and working in Central and Eastern Europe to find out what’s happening in the region and what legislative/professional/cultural trends and developments they’re following closely. Because the interviews are carried out and published on the CEE Legal Matters website on a rolling basis, we’ve marked the dates on which the interviews were originally published.
CMS has advised Andlinger & Company (A&C) on its acquisition of a majority interest in the Slovenian Eti Elektroelement d.d., a leading manufacturer of fuses and modular protection devices, from a sale consortium of 950 Eti shareholders, which also includes the company's employees. The consortium was advised by the Slovenia's Ulcar & Partnerji.