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Kambourov & Partners, working with Latham & Watkins, has advised Triton Partners on local aspects of the carve-out and acquisition of Siemens Energy’s Trench high-voltage component business. Baker McKenzie advised Siemens Energy. White & Case advised a syndicate of banks and financial institutions on financing the acquisition.

WKB Lawyers has advised Euroklimat on its acquisition of Instal Bud Pecyna.

Stratulat Albulescu has advised the founders of Romanian automated cybersecurity solutions provider Coda Intelligence on the sale of the company to PDQ. Kirkland & Ellis reportedly advised PDQ.

Clifford Chance has advised Hillwood on the financing of the construction of the Hillwood & LCube Wroclaw East warehouse park in Dobrzykowice, near Wroclaw, provided by mBank and amounting to over EUR 28.4 million. CMS reportedly advised mBank.

TGS Baltic has advised InMedica on its acquisition of the Panevezio Odontologai clinic. Glimstedt advised the seller.

Cvjeticanin & Partners has advised the Modern Business School on the implementation of Serbian labor law provisions relating to collective and individual aspects within a redundancy case.

The Aksan Law Firm has advised Founder One on its investment in VerdantWave.

Rymarz Zdort Maruta has advised Emeis Polska on its sale of a one-hectare land plot in Poznan to AP Marchewka Investment.

JSK has advised the Genesis Growth Equity Fund I on its sale of the Homecare Holding to the Penta Group. AK Evan reportedly advised the buyer.

Sayenko Kharenko has helped CMA CGM obtain merger clearance from the Antimonopoly Committee of Ukraine for the acquisition of two Spanish port terminals – in Valencia and Bilbao – through the purchase of a 49% stake in Cosco Shipping Ports Holding.

Wolf Theiss has advised Budapest Municipality-owned BKM Budapest Public Utilities Nonprofit on its acquisition of E.On Hungaria's 50% stake in BDK Budapest Decorative and Public Lighting.

Stratulat Albulescu has advised the GapMinder Venture Partners Fund II on investing in Genezio in a USD 2 million round that included Underline Ventures and other angel investors.

Former Counsels Maria Nefeli Bernitsa and Fotodotis Malamas have been appointed to Partner positions with Greek law firm Bernitsas.

Former Senior Counsel Pawel Kulak has been appointed as the Nordic Investment Bank's Principal Counsel.

Former Senior Associate Tania Patsalia has been promoted to a Partner position with Bernitsas.

Former Counsel Viktoria Szilagyi has been promoted to a Partner position with Lakatos Koves & Partners in Budapest.

Former Associate Partners Azuolas Cekanavicius and Povilas Junevicius have been promoted to Partner positions with Ellex in Lithuania.

On April 2, 2024, the LCF Law Group announced that Ivan Bondarchuk had been promoted to the firm's Partner ranks and will now lead its Energy and Projects practice in Kyiv.

RoPower Nuclear In-House Counsel Andrei Nicolae has been appointed as the General Counsel of the company.

Former Counsels Christina Chini, Vasilis Douzenis, and Niki Orfanidou have been promoted to Partner positions with Kyriakides Georgopoulos.

Former CEE Attorneys Managing Associate Madalina Ivan has recently announced the launch of her new law firm in Bucharest: Madalina Ivan Business Attorneys at Law.

DLA Piper appointed Partner Marcell Nemeth as the firm's new Head of the Finance Practice.

Former Koutalidis Partner Nikos Salakas has left the firm to join Alpha Bank as its new Chief of Corporate Center and General Counsel.

Former Alterna Partner Annika Vait has joined Rask as a Partner and Co-Head of the firm's Business Consulting and Transactions department.

1 March 2024 marks the date when the Transformations Act No. 309/2023 came into force in Slovakia. This regulation comprehensively outlines the procedures for national and cross-border mergers, divisions, and conversions of companies and cooperatives, moving away from the previously scattered provisions in the Commercial Code.

As of 1 March 2024, it possible to submit applications for residence permit at the Immigration Authority in accordance with the new regulation, i.e. the Act XC of 2023 on the General Rules for the Entry and Residence of Third-Country Nationals.

On 22 February 2024, the government adopted a proposal for a new Act on Judicial Protection Procedure for Former Holders of Qualified Liabilities of Banks ("ZPSVIKOB-1 Proposal"),the purpose of which is to eliminate the identified unconstitutionality of the previous Act ("ZPSVIKOB") and to finally appropriately regulate the procedure under which former holders could claim compensation for the controversial decisions of the Bank of Slovenia on the cancellation of their qualified liabilities in 2013.

In order to promote the health of employees and prevent workplace accidents, the Hungarian Government had significantly increased the fines for the breach of occupational health and safety rules as of 1 March 2024. The rule on its amount was removed from the applicable act and its details were laid down in a government decree.

As we move into yet another year with the special surtaxes in effect, the question justifiably arises: for how much longer will the extra-profit taxes, those labelled initially as temporary, encumber the Hungarian taxpayers’ declarations. Also, businesses now have to face additional burdens, such as the EPR fees, the carbon quota tax or the global minimum of the corporate income tax.

The main breaches of the Regulation (EU) No. 679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (hereinafter the “GDPR” or the “Regulation”) committed by the Romanian data controllers (the “Controllers”) investigated and sanctioned by the National Supervisory Authority for Personal Data Processing (the “Supervisory Authority”) in 2023 may be summarized as follows:

While rendering day-to-day corporate advice to various clients, we have noticed lately a trend specific to limited liability companies, which involves allowing the directors of the respective companies to delegate all their powers to another individual for certain operations, either via the Articles of Incorporation or by resolution of shareholders.

Certain amendments to the Land Transaction Act entered into force on 1 January 2024. The amendment introduces the definition of a rice farm, which includes the land and, as an accessory thereto, the land parcel registered as an area excluded from cultivation serving the rice production (e.g. ditch and drainage systems, embankments and farm roads). The amended Act contains specific provisions, such as two new legal bases for the pre-emption right in respect of rice farms.

According to the Hungarian Government's spring 2024 legislative program, the Hungarian Parliament may decide on the introduction of a “European minimum wage” as early as this spring session. The EU minimum wage directive highlights the importance of European social dialogue frameworks in reaching agreements on minimum wages among Member States.

On 8 March 2024, Law of Ukraine No. 3587-IX (“Law”) came into force, intending to bring Ukrainian laws on the governance of state-owned enterprises (state unitary enterprises and business entities where the state holds more than 50% of shares) (“SOEs”) in line with the OECD Guidelines on Corporate Governance of State-Owned Enterprises.

The recent judgement of the Court of Justice of the European Union (“CJEU”) on the sale of over-the-counter (OTC) medicinal products online (C-606/21, decision published on 29.02.2024) may have a direct impact on the existing Hungarian legislation and established market practice.

On 27 February 2024, the Cabinet of Ministers of Ukraine adopted Resolution No. 227 “On Introduction of Guarantees of Origin of Electricity Produced from Renewable Energy Sources”  (“Resolution”) that came into force on 5 March 2024.

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Jadek & Pensa Senior Partner and Head of the Transaction Unit Ozbej Merc talks about the evolution of the banking sector and their role as legal advisors in Slovenia over the last 10 years.

In The Inside Track, General Counsels across CEE share the nuances of their roles, challenges, and strategies for success. Since now is the time when plans for next year are made (and budgeted for) this time we asked GCs: Is your in-house legal function’s budget increasing, decreasing, or remaining the same in 2024?

On November 23, CEE Legal Matters reported that Cobalt had advised BaltCap Latvia Venture Capital Fund and funds managed by Imprimatur Capital, together with other shareholders, on the sale of Blue Bridge Technologies to Everfield. CEE In-House Matters spoke with Henning Schreiber, Head of Acquisitions at Everfield, to learn more about the acquisition.