In “The Buzz” we interview experts on the legal industry living and working in Central and Eastern Europe to find out what’s happening in the region and what legislative/professional/cultural trends and developments they’re following closely. Because the interviews are carried out and published on the CEE Legal Matters website on a rolling basis, we’ve marked the dates on which the interviews were originally published.
Greenberg Traurig, has advised Rentokil Initial plc on its joint venture agreement with Haniel & Cie. Holding Company, resulting in a unified provider of workwear and hygiene services in Europe with combined revenues of approximately EUR 1.1 billion. The Dusseldorf-based Glade Michel Wirtz law firm provided counsel to Haniel.
Norton Rose Fulbright has advised Inter Cars S.A. and its group companies on a PLN 1.1 billion loan facility. Clifford Chance, working with Tark Grunte Sutkiene (TGS), Divjak, Topic & Bahtijarevic (DTB) and Montanios & Montanios, advised Bank Pekao S.A. (agent), mBank S.A. (security agent), and Bank Handlowy w Warszawie S.A. (Citi Handlowy), ING Bank Slaski S.A., Bank BGZ BNP Paribas S.A., DNB Bank, and Caixa Bank as mandated lead arrangers on the facility.
Clifford Chance has advised the European Investment Bank (EBI) on the debut hybrid unsecured subordinated registered bonds in the amount of EUR 190 million issued on December 16, 2016 by Tauron Polska Energia S.A. Allen & Overy advised Tauron Polska on what is the first issue of hybrid bonds of this type by a Polish entity.
Dentons has confirmed that it advised European Property Investors Special Opportunities 3 (EPISO 3), an opportunity fund advised by European real estate investment manager Tristan Capital Partners, on its sale of the Zakopianka Shopping Center in Krakow, Poland, to Johannesburg-listed Echo Polska Properties, for approximately EUR 54 million. Linklaters reportedly advised Echo Polska on the deal, which is scheduled to close in the second quarter of 2017.
Dentons has announced that the joint bid of a consortium consisting of it, Infralinx Capital Polska, Ove Arup & Partners International Limited, and the Institute for Public- Private Partnership Foundation submitted pursuant to a tender announced by the Ministry of Development for the award of a public contract for the Framework Agreement for Consultancy and Specialist Workshops Concerning Preparation for the Implementation of Public-Private Partnership Projects was chosen as one of the three best bids.
Domanski Zakrzewski Palinka successfully represented PKP Intercity in an arbitration before the Court of Arbitration at the Polish Chamber of Commerce in Warsaw related to a dispute over payment of a contractual penalty by Alstom for a delay in the supply of Pendolino trains. The arbitral tribunal awarded PKP Intercity EUR 42.3 million with interest, allowing the greater part of its action. According to DZP, "this is one of the largest amounts awarded to a claimant in the history of Polish arbitration."
A&O has advised Asahi Group Holdings, Ltd. on its share purchase agreement with Anheuser-Busch InBev to acquire businesses formerly owned by SABMiller Limited (formerly SABMiller plc) in the Czech Republic, Slovak Republic, Poland, Hungary, and Romania and other related assets that were owned by SABMiller prior to its combination with AB InBev. The transaction has an enterprise value of EUR 7.3 billion, subject to customary adjustments. Freshfields Bruckhaus Deringer advised AB InBev on the deal, as well as on its combination with SABMiller and across the related disposal commitments made to competition authorities.
Soltysinski Kawecki & Szlezak is reporting that it represented Agora S.A. on its entrance into an Investment Agreement pursuant to which it will sell 21.5% of the share capital in Green Content sp. z o.o. to Discovery Polska. Additionally, in connection with the execution of the Investment Agreement, Discovery Polska subscribed for new shares in the increased share capital of Green Content. Greenberg Traurig advised Discovery Polska on the deal.
FKA Furtek Komosa Aleksandrowicz has advised the Senvion GmbH manufacturer of onshore and offshore wind turbines on Polish aspects of its acquisition of the EUROS Group, a provider of licenses and technology solutions for wind farm rotor blades. Senvion's lead counsel on the deal was Germany's Oppenhoff & Partner.
Clifford Chance has represented Powszechny Zaklad Ubezpieczen S.A. (PZU), acting as part of a consortium with Polski Fundusz Rozwoju S.A. (PFR), the Polish Sovereign Wealth Fund, in the acquisition of 32.8% of the shares in Bank Polska Kasa Opieki S.A. (Bank Pekao) from UniCredit. Gide Loyrette Nouel advised PFR and Weil advised UniCredit on the transaction, which remains contingent on the relevant regulatory approvals being obtained.
Kochanski Zieba & Partners (KZP) has advised Generac Holdings Inc., a designer and manufacturer of power generation equipment and other engine powered products, on the acquisition of assets of Motortech Holding GmbH & Co. KG from its family shareholders. The sellers were advised by the KSB Intax firm on the transaction, which remains subject to regulatory approval (and which is expected to close in the first quarter of 2017).
Clifford Chance has represented the TDJ Group in the Kopex Group's debt restructuring. The signing of the restructuring documents was the last condition precedent to the TDJ Group's acquiring the majority of the shares in Kopex S.A. According to reports, the TDJ Group's acquisition of control over the Kopex Group crowns the largest acquisition in the machine manufacturing sector in Poland.
Schoenherr has advised Kansai Paint Co Ltd., from Osaka, on the acquisition of the Helios Coatings Group from Ring International Holding AG ("RIH"), GSO Capital Opportunities Fund II (Luxembourg) S.a r.l., and Templeton Strategic Emerging Markets Fund IV, LDC. The sellers were advised by Brandl & Talos.