Orrick and Kondracki & Celej have advised Poland's Black Pearls VC on the investment of PLN 2.94 million (EUR 700,000) by its Black Pearls VC II Fund into cloud-based Insurtech Insly, part of Insly's seed round that included investments from Concentric Ventures and London Co-Investment Fund and resulted in a total of PLN 9.2 million (EUR 2.2 million).
Wierzbowski Eversheds Sutherland in Warsaw has supported the firm's UK office in the preparation and organization of the documentation of Polish company John Guest Polska Sp. z o.o. in connection with the GBP 687 million sale of the UK's John Guest Holdings to Reliance Worldwide Corporation, which was represented by Herbert Smith Freehills.
Linklaters has advised Panattoni Europe on the lease of 16,000 square meters of space in Panattoni Park Gdansk III to LPP S.A, a Polish company engaged in the clothing and accessories industry. The complex, which is currently under construction, will consist of two warehouse halls of nearly 64,000 square meters. The opening is scheduled for the third quarter of 2018.
The European Union’s General Data Protection Regulation is, according to the EU-hosted GDPR website, “the most important change in data privacy regulation in the past 20 years.” The Act, which was approved by the EU Parliament on April 14, 2016 and will become fully effective on May 25, 2018, was designed “to harmonize data privacy laws across Europe, to protect and empower all EU citizens’ data privacy, and to reshape the way organizations across the region approach data privacy.”
In December 2017, CMS published the latest edition of its annual “Infrastructure Index” report, which compares the political, economic, and legal environments for investors in infrastructure in 40 countries and constitutes a guide to the world’s most attractive destinations for infrastructure investment. According to the report, the five most attractive destinations for infrastructure investment are the Netherlands, Canada, Germany, the United Kingdom, and Australia.
The winners of the 2017 CEE Deal of the Year Awards were announced at the first ever CEE Legal Matters Deal of the Year Awards Banquet last night in Prague. The biggest smiles in the joyous and music-filled celebration of CEE lawyering, perhaps, were on the faces of Partners from Avellum and Sayenko Kharenko, which, along with White & Case and Latham & Watkins, won the award both for Ukrainian Deal of the Year and CEE Deal of the Year for their work on the 2017 Ukraine Eurobond Issue (a story initially reported by CEE Legal Matters on October 2, 2017).
On October 30, 2017, CEE Legal Matters reported that South African investment fund Coast2Coast had acquired Polish soup and pate manufacturer Profi — one of several recent CEE investments. Coast2Coast's Regional Counsel CEE Anna Wawrzynczak agreed to answer our questions about the recent acquisitions.
WKB and Skadden, Arps have advised Joyson Electronics, a component supplier for global automotive manufacturers that is part of a Chinese consortium with Hong Kong-based private equity firm PAG, on Polish aspects of its USD 1.6 billion acquisition of the global assets of Takata Corporation. Freshfields Bruckhaus Deringer advised the sellers, with Wardynski & Partners acting as local Polish counsel.
SPCG Studnicki, Pleszka, Cwiakalski, Gorski has successfully represented T-Mobile Polska S.A. in a dispute with Poland's President of the Office for Competition and Consumer Protection before the country's Court of Competition and Consumer Protection. The dispute was in relation to a subscription price increase and the obligation to pay public compensation.
Kondracki & Celej and the London office of Orrick, Herrington & Sutcliffe have advised Black Pearls VC on PLN 3 million financing as part of Deep.BI seed round, which resulted in a total of PLM 4.8 million (EUR 1.1 million). The remaining 1.8 million PLN was raised from Polish business angels related to the media industry: Piotr Walter, Tomasz Jozefacki, Krzysztof Debowski, and Adam Sawicki.