Back in February 2020, the new Personal Protection Data Law was published in the official gazette, which meant that North Macedonia was catching up with the European Union on personal data protection.

Dentons has advised a syndicate of banks led by Ceska Sporitelna, and including Ceskoslovenska Obchodni Banka and Komercni Banka, on the financing of KKCG Group and Aricoma Group’s acquisition of Musala Soft. Polenak, Boyanov & Co, and, reportedly, Andric and TM & Partners advised the banks as well. Clifford Chance advised Aricoma Group on the deal.

ODI Law has advised Makedonski Telekom on the collective bargaining negotiations with two representative trade unions.

Schoenherr has advised the KKCG Group and its portfolio company Aricoma Group International on the acquisition of Bulgarian software company Musala Soft and its subsidiaries. CMS reportedly advised the sellers.

North Macedonia does not have a foreign investment screening regime comparable to those now emerging in the European Union in light of the EU FDI Screening Regulation, but operates a single-sector authorisation system specifically covering the defence sector. Additionally, there is mandatory registration of all direct investments made by non-residents.

Schoenherr, working with Pinsent Masons and Wenger Vieli, has advised Kontron on selling parts of Kontron Group’s IT services business to Vinci Energies during a competitive auction process, for approximately EUR 400 million. Reportedly, Baker McKenzie’s German office advised Vinci Energies. Loloci & Associates advised Kontron on Albanian matters.

ODI Law has advised Cine Grand on its long-term lease agreement with the East Gate Mall for a 3,000 square-meter space for operating a cinema within the mall in Skopje. Reportedly, solo practitioner Zekir Zekiri advised the lessor.

The development of road infrastructure is important for the Macedonian authorities. The Government of the Republic of North Macedonia (RoNM) analyzed and undertook different approaches for the realization of infrastructure projects in the past. During the last few years, the Assembly of the RoNM (Assembly) has adopted two laws that stipulated additional regimes for the realization of infrastructure projects.

Financial technology is in its early stages in North Macedonia. The ability of alternative finance companies to utilize technology and provide products and services to underserved individuals enabled them to successfully penetrate the retail lending market and become the most embedded subsector in the fintech space. Incumbent banks, aware of the growing competition, are developing fintech solutions such as better credit scoring solutions, the digitalization of products and services, and facilitating peer-to-peer payments. Fintech players and incumbent banks alike are also experimenting with big data analytics, cloud computing, and artificial intelligence. There are no initiatives in blockchain and distributed ledger technology.

An in-depth look at Kristijan Polenak of the Polenak Law Firm covering his career path, education, and top projects as a lawyer as well as a few insights about him as a manager at work and as a person outside the office.

ODI Law Partner Gjorgji Georgievski, EY Law North Macedonia Manager Jana Nikodinovska, CMS Partner Marija Filipovska, Popovski & Partners Partner Ognen Martinov, and Lalicic & Boskoski Partner Vedran Lalicic talk about what practices have been keeping their firms busy and their outlook.

In a 2020 CEE Legal Matters article, Karanovic & Partners Partner Veton Qoku wrote that “in 2016 the Republic of North Macedonia made changes to its Law on the Control of Narcotic Drugs and Psychotropic Substances, defining the terms ‘hemp,’ ‘hemp seed oil,’ and ‘cannabis/hemp oil’ for the first time as well as regulating the procedure for cultivation and production of hemp.” CEELM spoke with Qoku to check in on the development of this young sector in the country.

ODI Law has advised REDI Development on a EUR 1 million term loan to microcredit foundation Horizonti Skopje. Dentons Luxembourg reportedly advised REDI as well.

ODI Law has advised NeoGames on the acquisition of Aspire Global through a recommended public offer. Reportedly, Latham & Watkins, Herzog Fox & Neeman, Hannes Snellman, Allen & Overy, and Camilleri Preziosi advised NeoGames as well. Baker McKenzie reportedly advised Aspire Global.

Contributed by Law Office Emil Miftari.

Some signs of political instability on the path to European Union accession for North Macedonia, rising inflation, and several interesting upcoming legislative changes are on the ticket for the Balkan country, according to Lalicic & Boskoski Partner Martin Boskoski.

 Nikola Lazarov Law Office’s Nikola Lazarov Talks About the Deal of the Year in North Macedonia – Interenergo’s and Trigal’s Acquisition of Wind Farm from Euroing.

Former SkopSter Senior Legal Counsel Iva Djugumanova has joined ODI Law’s Skopje office as Senior Associate and Head of the Corporate practice.