Wolf Theiss has advised Pivovarna Union on the sale of 57.63% of its shares in the Birra Peja brewery in Kosovo to the Devoli Group beverage producer.
Pivovarna Union is a member of the Pivovarna Lasko Group, the largest Slovenian brewery, the shares of which are listed on the Ljubljana stock exchange. According to Wolf Theiss, “the sale is part of an ongoing process of divestments of non-core assets, which members of the Pivovarna Lasko Group undertook vis-à-vis its banks in a multi- party financial restructuring agreement that concluded in April of this year, making this a successful milestone on Pivovarna Unions's way to turn around."
Wolf Theiss advised on both Slovenian law and Kosovo law. Wolf Theiss drafted and negotiated the share purchase agreement and ancillary documentation and provided advice on all relevant aspects of corporate law, competition law, and IP. In addition, Wolf Theiss assisted in the negotiations regarding license agreements for Pivovarna Union brands, so that Birra Peja can continue trading these well established brands in Kosovo.
The transaction team was coordinated by Wolf Theiss Partner Markus Bruckmuller and Senior Associate Klara Miletic. Partner Christian Mikosch and his team provided assistance on aspects of Kosovo law. Financial advisor to the seller was UniCredit Bank Austria. Wolf Theiss continues to advise the Pivovarna Lasko Group on its restructuring as well as in its ongoing search for an investor by way of a capital increase.
Earlier this year, Wolf Theiss advised the same brewery in Slovenia on a EUR 300 million debt restructuring (reported on by CEE Legal Matters on May 16, 2014).
