Popovici Nitu Stoica & Asociatii assisted longstanding client Auchan with the acquisition of OK Supermarket network, which consists of three stores located in and around Bucharest.
Clifford Chance Badea has advised J.C. Flowers & Co. on the acquisition by funds it manages of Piraeus Bank Romania from Piraeus Bank S.A., in a deal marking the American investor's entry on the local market. White & Case (as international legal counsel) and Schoenherr (as Romanian legal counsel) advised Piraeus Bank on the transaction, which has been approved by the Board of Directors of Piraeus Bank and the Hellenic Financial Stability Fund.
Popovici Nitu Stoica & Asociatii has advised Xella International S.A. on its agreement with two Polish private equity funds managed by Enterprise Investors to acquire Macon Group. RTPR Allen & Overy advised the sellers on the deal, which is subject to approval by the competent antitrust authorities and is expected to close in the first half of 2018.
As of 1 January 2018, the minimum gross base salary at national level for the full monthly average working time of 166.666 hours is set at Lei 1,900 (approx. EUR 410), which is the equivalent of 11.40 Lei/hour. This is an increase of Lei 450 over the minimum gross basic salary of Lei 1,450 (approx. EUR 313), which is applicable until the end of the year.
PeliFilip has advised Banca Transilvania on its acquisition of Bancpost S.A., ERB Retail Services IFN S.A., and ERB Leasing IFN S.A. from Eurobank Group. The sellers were advised by Shearman and Sterling and Schoenherr.
Schoenherr, working alongside global lead counsel Ashurst, has advised Deutsche Private Equity Management III on its acquisition of leaflet printing business Euro-Druckservice from a consortium of three company shareholders. Clifford Chance advised EDS's shareholders on the sale. Financial details of the transaction were not disclosed.
Traveling the region on legal business I sense a lot of buzz surrounding law firms in CEE. Headline transactions are numerous and deal-pipelines appear to be well-fueled. With the tailwind of news about solid economic growth in the European Union there are good chances that this trend will last. The future for law firms in the region looks brighter than ever. But there are also challenges ahead of us as the legal industry, in CEE as everywhere else, is headed for some turbulent times.
On Thursday, November 30th, leading legal practitioners from across Central and Eastern Europe gathered in Prague to help CEE Legal Matters celebrate its fourth successful year as the leading chronicle of the legal industry in the region, participating in an expert Round Table conversation about the year just concluded and enjoying an evening of dinner, drinks, and bonhomie.
The price of used water and its unjustified and non-transparent increase is one of the most debated issues in recent years by hydroelectric power plant operators and, in particular, by micro-hydropower operators, with a major impact especially in the context of the change in the support scheme for green energy and blockage in the green certificates market.
CEE Attorneys – Boanta, Gidei & Asociatii has advised the Keswick Enterprises Group -- a provider of logistics services across the UK and Central and Eastern Europe – on the sale of its Romanian logistics subsidiary, Tibbett Logistics, to Japan's Yusen Logistics supply chain logistics company, which has operations in Europe, the Americas, and Asia. McGregors reportedly advised the buyers on the transaction, which remains conditional on the approval of the Romanian Competition Council. It is expected to be finalized by the end of this year.
Romania's Popovici, Nitu, Stoica & Asociatii and Poland's Kurzynski Kosinski Lyszyk Wierzbicki have advised the Romanian and Polish subsidiaries of the Etanco Group on their acquisition of of the subsidiaries of Gunnebo Fastening in those two countries. NNDKP, working along lead counsel Fidel, advised Gunnebo Fastening on the Romanian side of the transaction, with DZP reportedly advising Gunnebo Fastening on the sale of its Polish subsidiary.
RTPR Allen & Overy has advised Wood & Company Financial Services and Raiffeisen Bank as joint book-runners on the IPO of Sphera Franchise Group and admission to trading on the Bucharest Stock Exchange. Schoenherr Bucharest advised Sphera on the IPO, which represented approximately 25.3% of the company's share capital.