Linklaters has advised Globalworth Poland on its EUR 37 million acquisition of the Rondo Business Park office complex in Krakow.
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.
Jara Drapala & Partners, working with SWS Strykowski Wachowiak, has successfully represented Mostostal Warszawa S.A., one of Poland's largest construction companies, in Poland's Court of Appeals, in a dispute against Zaklad Unieszkodliwiania Odpadow regarding a contract for the construction of a waste incineration plant in the northwestern city of Szczecin.
Linklaters has advised Patron Capital, a European private equity real estate fund, on the acquisition of the 5-star Sheraton Hotel in the center of Warsaw form Benson Elliot and Walton Street JV. Paul Hastings in London and WKB Wiercinski Kwiecinski Baehr in Warsaw advised the joint venture on the sale.
Chajec, Don-Siemion & Zyto has advised CP Fundusz Inwestycyjny Zamkniety and Capital Partners Investment I Fundusz Inwestycyjny Zamkniety on the sale of 100% of their shares and bonds in Symbio Polska S.A., a company listed on Poland's NewConnect market, as well as on an investment intan unnamed FMCG company.
White & Case has advised the Polish Ministry of Finance on the EUR 2 billion issuance of 10 and 30-year Euro-denominated Green Bonds, maturing on March 7, 2029 and March 8, 2049 respectively. Clifford Chance reportedly advised lead managers and bookrunners Citi, ING, J.P. Morgan, PKO BP, Santander, and Societe Generale.