Taylor Wessing has advised Warimpex Finanz- und Beteiligungs Aktiengesellschaft on the partial sale of its hotel portfolio to the Thai investor U City Public Company Limited. CHSH and Hogan Lovells advised U City on the transaction, which included participations in eight hotels in the Czech Republic, Poland, and Romania, two of which are partly (50%) owned by UBM Development AG.
“Clients are increasingly looking for diversity in terms of dispute resolution methods,” according to Anne-Karin Grill, Partner at Schoenherr in Vienna. Keen to learn more about this development, CEE Legal Matters spoke with Grill, Schoenherr’s Bucharest-based Partner Silvia Opris, and Natasa Lalatovic Djordjevic, Attorney at Law at Moravcevic Vojnovic i Partneri in cooperation with Schoenherr in Serbia.
Zamfirescu Racoti & Partners has obtained a new final arbitration award from the International Chamber of Commerce (ICC) Paris partially accepting the counterclaim made by the management company for state-owned stakes in the Societatea de Administrare a Participatiilor in Energie (SAPE) energy companies against E.ON Romania S.R.L. (E.ON). As a result of the ruling, E.ON is obliged to pay the amount of RON 4,070,948 (approximately EUR 901,000) plus interest to SAPE in compensation for infringing the minority shareholder’s rights in its distribution of dividends.
The Bucharest office of Schoenherr has announced the arrival of Georgiana Badescu from Voicu & Filipescu as a new Partner in charge of the office's competition practice. The partnership ranks in the office has also been expanded by the promotion of Eva Hegedus-Brown to Partner in the real estate practice.
NNDKP has successfully represented a joint venture formed of three Spanish and French companies — FCC Construccion S.A., Aqualia Intech S.A., and Suez International S.A. (case number 8424/2/2016) — in a dispute over the awarding of a public procurement contract related to the extension of the Glina Waste Water Treatment Plant and the construction of a sludge incinerator organized by Bucharest Municipality.
The firms of the SEE Legal network are reporting that they worked alongside Skadden Arps in advising BA Glass I – Servicos de Gestao e Investimentos S.A. (the parent company of BA Vidro S.A.) on its acquisition of substantially all of the Yioula Glassworks SA glass container business from Yioula Glassworks SA and its subsidiary Yalos Holdings (Overseas) Limited. Yioula Glassworks was supported on all legal issues by Winston & Strawn.
Kinstellar teams in Bucharest, Budapest, and Prague have worked alongside international counsel Sidley & Austin in advising Nidec, a leading Japanese manufacturer of electric motors, on the acquisition of Leroy-Somer and Control Techniques from Emerson Electric Co. Motors, a US provider of products and services for a wide range of industrial, commercial, and consumer markets. The transaction, valued at USD 1.2 billion, involved several jurisdictions across Europe, USA, and Asia and is part of Nidec’s strategy to expand its industrial and commercial business in Europe.
On November 17, 2016, CEELM reported on the merger of two shopping malls in Romania – Bucuresti Mall and Plaza Mall – owned and operated by the real estate and development company Anchor Group. We reached out to Mihaela Marin, the Head of Legal Department at Anchor Group, who agreed to elaborate on the merger.
Clifford Chance's Prague office has advised CBRE Global Investors, a Fortune 500 real estate company with offices in more than 64 countries worldwide, on the sale of its high-quality retail portfolio in Central and Eastern Europe to CPI Property Group (CPI). Dentons advised CPI on the transaction, which is valued at over EUR 600 million and will see properties including 11 shopping centers change hands across the Czech Republic, Poland, Hungary, and Romania.
Biris Goran has advised AdamAmerica Europe on its acquisition of Construdava, a 9,400 square meter office building located on Pipera-Tunari Road, in the North-East of Bucharest, from Commerzbank AG and Aberdeen Asset Management. CMS advised the sellers on the deal, which was signed in October, 2016, and closed at the end of December, 2016