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Sorainen has advised Pigu.lt and its shareholders on its merger with Morele.net. Polish private equity group MCI, an investor in both Pigu.lt and Morele.net., was reportedly advised by Norton Rose Fulbright on the deal.

On 30 November 2018, a new law implementing several changes to existing legislation (1), notably to the Civil Code and the Commercial Companies Code, as well as to tax laws, was announced. The new law, which will enter into force at the beginning of 2019 (with respect to matters commented on below, mostly as of 1 March 2019).

The Polish Competition Authority has been increasingly active as the market watchdog. In assuming his position as President of the Competition Authority in 2016, Marek Niechcial announced his commitment to strengthening competition law enforcement via a stricter approach, more investigations, and higher fines for wrongdoers. The last two years demonstrate that the Authority is working towards delivering on this promise.

The Deal: In July 2018, CEE Legal Matters reported that the Warsaw office of Linklaters had advised Polish rolling stock manufacturer PESA Bydgoszcz and its shareholders on the sale of 100% of the company to the Polish Development Fund. Weil, Gotshal & Manges advised the Polish Development Fund on the acquisition.

Significant changes have been made to Polish transfer pricing regulations in recent years. New legislation, adopted in 2017, introduced a three-tiered approach to transfer pricing documentation consisting of: (1) local file, (2) master file, and (3) country-by-country reporting. Poland was one of the first countries to introduce the changes recommended by the OECD in BEPS (Action 13).

Andrew Kozlowski is Counsel (and former Managing Partner) at CMS in Warsaw, where he specializes in energy and project finance, corporate/M&A, privatizations, and international capital markets. He has been involved in numerous infrastructure projects in Poland and across CEE and various project finance transactions in the energy and transportation sectors, from motorways, railways, and waste, to energy utilities.

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