The Buzz in Poland, according to Michal Karwacki, Partner at Squire Patton Boggs, is that while most of the big cap transactions planned for 2017 have already been tasked (with the exception of the potential exit of Warburg Pincus from Inea), the mid-cap transactional market in the country remains highly active. Indeed, says Karwacki, "the mid cap market is quite speedy, and I believe that we will hear about many such transactions just after the summer, with the most interesting targets being in the automotive, logistics, and consumer goods sectors.”
Linklaters has advised Echo Investment SA (acting through its SPV) in connection with the sale of the Sagittarius Business House office building in Wroclaw to Warburg-HIH Invest Real Estate GmbH. Dentons advised the buyers in the transaction, which remains subject to fulfillment of customary conditions precedent and is expected to occur in 2018.
Linklaters has advised Grupa Ozarow on the sale of 99.19% of the shares in its Polish calcium silicate subsidiary, Grupa Silikaty Sp. z o.o., to H+H Polska Sp. z o.o., the Denmark-based subsidiary of H+H International. Wardynski & Partners advised the buyers on the deal, which remains subject to customary approval by the Polish authorities and is expected to occur at the end of 2017.
Dentons advised the offering managers — including Haitong Bank, mBank, Pekao Investment Banking, Wood&Co, Raiffeisen Centrobank, Mercurius, Trigon and Vestor — on the initial public offering and listing on the Warsaw Stock Exchange of Polish debt collection company GetBack S.A. Greeberg Traurig advised Getback S.A. and its only shareholder, DNLD Holdings B.V. (an entity controlled by a consortium of private equity funds led by funds from the Abris Capital Partners Group), on the initial public offering of shares and listing.
Gessel and Wierzbowski Eversheds Sutherland have advised Enterprise Investors on the acquisition by the Polish Enterprise Fund VII and the President of the Management Board of 100% of shares in Janton, Poland’s leading producer of alcoholic beverages based on grape and fruit wines. The sellers were advised by CMS on the deal, which remains conditional on antimonopoly approval. Financial details were not disclosed.
CMS has advised Polish company Tele-Fonika Kable S.A. on its acquisition of JDR Cable Systems (Holdings) Ltd. — a supplier of subsea umbilicals and power cables to the offshore energy industry, headquartered in the UK — from majority owner Vision Capital. Macfarlanes served as legal counsel to the sellers, with Mills & Reeve acting as legal counsel to the JDR management team. JP Morgan and Societe Generale provided financial advice to TFKable, and Simmons & Company International provided financial advice to JDR.
Chajec, Don-Siemion & Zyto has advised a private equity fund managed by Value Quest Sp. z o.o. on its acquisition of 100% shares in TTComm S.A., a prominent provider of satellite services in Central and Eastern Europe, from TTComm International B.V. The sellers were advised by Plopper & Partners, a US law firm.
White & Case has advised Play Communications S.A. (Play) and its shareholders, Novator and Olympia, on the EUR 1 billion initial public offering of Play on the Warsaw Stock Exchange, which values the company at EUR 4 billion (PLN 16 billion). Play will be listed on July 27, 2017. Latham & Watkins advised the banks on the IPO, which is reported to be Europe's largest IPO in the telecommunications sector since June 2015, and one of the five largest Polish IPOs ever.