Noerr has advised NEI, an Indian bearings manufacturer and exporter that is part of the CK Birla Group, on its acquisition of international bearings producer Kinex Bearings and bearing trading company Global Supply. The sellers were reportedly advised by Ernst & Young.
Noerr had advised Papierfabrik Adolf Jass GmbH & Co. KG on the acquisition of 100% of shares in the share capital of Convert PL sp. z o.o., owned by Ostoja I Fundusz Inwestycyjny Zamknięty Aktywow Niepublicznych, a closed-end investment fund backed by the Giermaziak family. Convert PL was advised by Deloitte Legal on the transaction, which closed on December 5, 2019.
Paksoy and Shearman & Sterling have advised DBAG Fund VII and Deutsche Beteiligungs AG on the acquisition of a majority stake in Cartonplast Group from London-based financial investor Stirling Square Capital Partners. The Ozbek Attorney Partnership advised Stirling Square Capital on the transaction, as well as, reportedly, Latham & Watkins, J&A Garrigues, Pinheiro Neto Advogados, and Noerr Biedecki.
On 11 November 2019, the European Union adopted a legal framework for restrictive measures against Turkey. The EU is thus responding to Turkish exploratory drilling for natural gas deposits off the Cypriot coast, which Cyprus and the European Union consider illegal. The legal framework will make it possible to sanction individuals or companies responsible for or involved in drilling activities in the Eastern Mediterranean. However, no specific measures have been imposed yet.
Noerr has advised Hungarian-based online travel portal Szallas.hu on its take-over of the MaiUtazas Group travel portal in a combined share and asset deal transaction. The acquisitions were financed with Szallas.hu's internal resources, as well as capital from the equity funds of Szallas.hu’s owner, OTP Bank. The Csetneki Law Firm advised MaiUtazas Group on the deal.
The current state aid system in Poland provides for preferential treatment of investors who set up their business in the territory of one of the Special Economic Zones (SEZ), i.e. within a legally designated part of Polish territory. The SEZ benefits include, in particular, exemptions relative to corporate income tax for corporations or personal income tax for non-corporate entities. However, in recent years this system has failed to keep up with ever-changing socio-economic challenges. The zones have proved to be a rather inadequate instrument for sustainable development and the rules of support in Poland have become less attractive compared to those offered by foreign competitors.
Schoenherr, working with lead counsel Hengeler Mueller and Belgium's Bredin Prat, China's JunHe, Mexico's Galicia Abogados, and Wuersch & Gering in New York, has advised Sweden's Ericsson on its acquisition of Germany's Kathrein SE's antenna and filters division. Noerr and Ziems & Partner acted as lead counsel to Kathrein, assisted by, among others, Eisenberger & Herzog, Freshfields Bruckhaus Deringer, Allen & Overy, and Gleiss Lutz.