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Former Willis Towers Watson Regional Compliance Business Partner Maciej Hajewski has joined the PIB Group as its Group Head of Risk and Compliance - Europe in Poland.

The amendment to the Code of Commercial Companies (CCC), which came into force on 15 September 2023, introduced the possibility of dividing commercial companies by separation – that is, in essence, the creation of subsidiaries within which property can be transferred using the principle of general succession. A number of changes have also been introduced with regard to international and domestic mergers.

Clifford Chance has advised UniCredit and the other dealers on an update to Bank Millennium’s EUR 3 billion EMTN program and two related transactions: a EUR 400 million issuance of fixed to floating rate senior non-preferred notes; and a EUR 100 million private placement of senior non-preferred notes. Allen & Overy reportedly advised the issuer.

Baker McKenzie has advised Echo Investment Group companies Grupa Archicom, Echo Investment, and DKR Echo Investment on offering 10 million new shares in Archicom and DKR's sale of 6.1 million existing shares. The PLN 220 million transaction was managed by the PKO BP Brokerage Office.

The Polish Ozog Tomczykowski law firm has changed its name to Tomczykowski Tomczykowska, with Irena Ozog stepping down and Anna Turska-Tomczykowska rising to the rank of Managing Partner. Pawel Tomczykowski will continue on as Managing Partner as well.

What regulatory changes can issuers expect? For the Polish capital market, recent years have been quite intense, primarily in terms of amendments to regulations, both domestic and EU. The most significant changes in these regulations can be expected at the end of 2023.

Szybkowski Kuzma Jelen Brzoza-Ostrowska has advised industrial developer Panattoni on its approximately EUR 100 million sale of three industrial parks: the 37,600-square-meter Panattoni Park Zory, the 42,000-square-meter Panattoni Park Poznan XIII, and the 56,000-square-meter Panattoni Park Lodz A1. Greenberg Traurig advised the undisclosed buyer.

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