The Croatian Lobbying Act (Official Gazette 36/2024, the “Act”) entered into force on 1 October 2024, marking Croatia’s first comprehensive regulation of lobbying activities. The Act establishes significant new rules for lobbyists and companies alike, requiring compliance when interacting with public officials to advocate for business or organisational interests. This regulatory development represents a transformative shift in how entities engage with policymakers and will necessitate careful attention to adherence with these newly established standards.

Starting on 1 January 2025, the parallel import of medicines into Ukraine will come into force, allowing dealers that are authorised by manufacturers of medicinal products to import medicines in parallel with said manufacturers. The expected outcomes of this new regime are higher competition and lower prices for relevant medicines.

Wolf Theiss has advised GreyLion Partners on its equity investment in Birdseye Security Solutions. Lazarevic & Prsic advised Birdseye Security Solutions.

As Environmental, Social and Governance (ESG) standards continue to dominate business conversations, the European Union (EU) drives the momentum by placing the ‘energy efficiency first’ principle at the heart of its energy policy. These efforts further aim to enhance governance, transparency and strengthen the link between climate change mitigation and environmental protection measures.

Wolf Theiss has advised XPartners Samhallsbyggnad on its acquisition of Aqvila and its Hungarian subsidiary Aqvila Consult Hungary.

Wolf Theiss, working with Freshfields Bruckhaus Deringer, has advised Raiffeisen Bank International on its invitation to existing holders of its outstanding EUR 500 million subordinated callable fixed-to-fixed rate reset notes due March 2030 to tender their tier 2 notes for purchase by the company and its role as issuer of the EUR 500 million subordinated callable fixed-to-fixed rate reset notes due January 2035. White & Case reportedly advised the banking consortium involved.

Wolf Theiss has advised Stage Capital on the sale of the Galardia shopping center in Poland to Future Estate.

Wolf Theiss has advised Rewe Digital on a joint venture with Amb Software to establish an IT center in Zielona Gora, Poland. DZP advised Amb Software.

Kinstellar has advised Banque Federative du Credit Mutuel on the acquisition of BNP Paribas’s Hungarian subsidiary Magyar Cetelem Bank. Wolf Theiss advised BNP Paribas.

Wolf Theiss has advised the International Finance Corporation on a EUR 75 million anchor investment in Voestalpine green notes.

BPV Huegel has advised Immofinanz on the acquisition of a further approximately 38% stake in S IMMO via a share acquisition from CPI Property Group for EUR 608.5 million. Wolf Theiss advised CPI Property Group.

The right to disconnect entitles employees not to be at the employer’s disposal during rest periods and other justified absences.

Effective from 1 January 2025, Croatia will introduce a new property tax law. This new law will replace the current vacation home tax and apply to all residential properties, with certain exemptions. Local governments will institute the new law and set tax rates within a specified range by taking into account property characteristics and other factors.

There’s a new windfall value-added tax (“VAT”) reclaim opportunity in Hungary based on a recent judgment of the Court of Justice of the European Union (“CJEU”).

The amended Rules of Proceedings (hereinafter referred to as the “Rules of Proceedings”) of the Permanent Court of Arbitration attached to the Hungarian Chamber of Commerce and Industry (hereinafter referred to as the “Arbitration Court”) came into force on 15 September 2024. The amended rules are to be applied in arbitration proceedings initiated on or after the date of its entry into force.

Wolf Theiss has promoted former Counsels Andreea Zvac, Oleg Temnikov, Stefan Horn, and Alexander Zollner to Partner.

Schoenherr has advised Danske Bank, Erste Group, ING, Natixis, and UBS, on Volksbank Wien’s invitation to existing holders of their outstanding EUR 400 million 2.75% fixed to fixed tier 2 notes with an interest rate reset date on October 6, 2022 to tender their notes for purchase by the company for cash. Schoenherr also advised the banks on the successful issuance of EUR 500 million 5.5% Volksbank Wien’s subordinated notes issuance. Wolf Theiss advised Volksbank Wien.

Wolf Theiss, working with Jeantet, has advised Ancala on the acquisition of Elektrana Grubisno Polje from Akuo Energy. Divjak, Topic, Bahtijarevic & Krka reportedly advised Akuo Energy.