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The European Union’s General Data Protection Regulation is, according to the EU-hosted GDPR website, “the most important change in data privacy regulation in the past 20 years.” The Act, which was approved by the EU Parliament on April 14, 2016 and will become fully effective on May 25, 2018, was designed “to harmonize data privacy laws across Europe, to protect and empower all EU citizens’ data privacy, and to reshape the way organizations across the region approach data privacy.”

Noerr, Ellex Raidla, Jeantet, and Bowman Gilfillan have advised Daimler AG on a USD 175 million investment in Estonian startup Taxify. Sorainen Estonia advised Taxify on the successfully concluded funding round that brought its valuation to the USD 1 billion mark.

CMS Prague has announced that Libor Prokes was promoted to Partner on May 1, 2018. Prokes focuses on real estate transactional work, including property sales and acquisitions, as well as leasing and constructions matters.

The Warsaw office of Noerr has advised PFR Life Science, a subsidiary of the Polish Development Fund, which supports infrastructure and advanced technology projects, on its PLN 38.3 million investment in Mabion S.A., a biotechnology company in Poland. Mabion was represented by White & Case.

Noerr has advised Work Service S.A. on the PLN 178.6 million sale of all its shares in Exact Systems companies to funds managed by Cornerstone Partners and Oaktree Capital Management, L.P. Crido Legal assisted Exact Systems Management Board members Leslaw Walaszczyk and Pawel Gos, and Weil, Gotshal and Manges office advised both Cornerstone Partners and Oaktree Capital Management on the acquisition.

1. Government Emergency Ordinance no. 25/2018 regarding the amendment of the Fiscal Code and other laws was published in the Official Gazette no. 291/30 March 2018

After the regulation on the commissioning of construction works received a (to a certain extent welcome) facelift in 2017, the Romanian legislator has turned its attention once again to the fundamental regulations regarding the authorization and execution of construction works.

Noerr was lead counsel to Union Tank Eckstein in relation to its acquisition of 51% of the shares of Polish company Timex Card, a franchisee and distributor of UTA service cards for car fleets issued by Union Tank Eckstein. Ellex advised UTA on Estonian, Latvian, and Lithuanian matters, Nobles advised UTA on Ukrainian law, and Stelios Americanos advised it on Cypriot law issues. The sellers depended on their in-house counsel, Agnieszka Slowiak.

The Ministry of Energy introduced guidelines for a new support mechanism for cogeneration (technological process of simultaneous generation of electricity and useful heat in CHP plants). All existent cogeneration installations will be allowed to benefit from the support system, based on a premium paid extra in the electricity price. For new units, an auction mechanism will be introduced. A “feed-in-premium” (FiP) mechanism will be provided for those installations with total installed capacity lower than 1MW.

As of 1 January 2018, the minimum gross base salary at national level for the full monthly average working time of 166.666 hours is set at Lei 1,900 (approx. EUR 410), which is the equivalent of 11.40 Lei/hour. This is an increase of Lei 450 over the minimum gross basic salary of Lei 1,450 (approx. EUR 313), which is applicable until the end of the year.

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