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Mon, Aug
38 New Articles

Schoenherr is reporting that the United Group's EUR 1.2 billion acquisition of Vivacom (Bulgarian Telecommunications Company EAD), the largest telecom operator in Bulgaria — the deal that was signed in November 2019 and won CEE Legal Matters' 2019 Deal of the Year for Bulgaria — has closed. Paul, Weiss, Rifkind, Wharton & Garrison acted as lead English counsel to the United Group, while CMS and Kambourov & Partners were, respectively, English and Bulgarian counsel to the sellers.

We decided to lighten the mood this time around by asking our Law Firm Marketing experts from across the region a non-law-firm related question: “What did you most want to be when you were little?”

New legislation that affects investments in Polish entities by investors from outside the EEA and OECD will enter into force on 24 July 2020. The Act on Control of Certain Investments (the "Act"), recently amended by the so-called Anti-Crisis Shield Act, empowers the President of the Office for Competition and Consumer Protection (the "OCCP") to review foreign investments on the grounds of public security, order and health. The new screening mechanism will apply over the next two years. 

Clifford Chance Badea has advised the Kingspan Group, a company specialized in high-performance insulation and building envelope solutions, on the acquisition of TeraSteel SA, TeraSteel DOO Serbia, and Wetterbest SA. Schoenherr advised TeraPlast on the deal.

Stay informed about the latest developments in competition law in Central and Eastern Europe with Schoenherr's multi-jurisdictional newsletter. Each issue offers insight into developments in merger control, anti-trust, as well as public and private enforcement in the region.

A series of minor yet impactful amendments were introduced to the Romanian Companies Law through Law No. 102/2020, which came into force on 5 July 2020, making it easier for investors and entrepreneurs to set up a new company. The Romanian Parliament adopted the amendments in order to reduce the red tape around company incorporation and encourage investment in the Romanian economy.

On 15 July 2020 the Austrian Parliament adopted a new FDI screening act (Investitionskontrollgesetz, "ICA"), following the trend to tighten the regulatory framework for foreign investment screening (read more here: Austrian government proposes new FDI screening act). The ICA will enter into force after publication in the Federal Law Gazette. It largely transposes the requirements under the EU FDI Screening Regulation (read more here: A new regulation on FDI screening in Europe).

After a few weeks of enjoying the easement of travel restrictions, with Europe leading the way, the Hungarian government adopted new rules applicable to travellers coming to Hungary. The new rules are applicable for travellers with private passports. Freight traffic is exempt. So, holiday bookings and business trips must be put on hold, yet again?

With a streamlined system of real estate protection and a modern Civil Code, property interests and real estate investments in Romania have never been more secure. Increasing digitalisation and recent improvements in land registration go a long way to making the legal process of purchasing real estate more effective and efficient.

In response to the coronavirus crisis, which is seriously impacting the Slovak economy, the Government of Slovakia has proposed and the Parliament has passed a second amendment to the Slovak Labour Code within a short period of time. We provide information on this topic below. Should you wish to obtain more details please do not hesitate to contact us.

Schoenherr at a Glance

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 15 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu