Hungary’s agricultural sector has a rich historical tradition but faces challenges due to insufficient financing. The European Union’s Common Agricultural Policy (CAP) provides funding for farm restructuring and market support, while Hungarian farmers can seek financing from banks and cooperatives. The Hungarian government has also established various programs to provide financing for agriculture, including subsidies for machinery and technology investments and funding for training.
Key Enforcement Trends and Top Priorities of The Romanian Competition Council
The practice of the Romanian Competition Council (RCC) over the last few years can be summed up in a rather simple headline: many (more) cases and substantial fines.
PE-ering into Romania
With most of Europe facing turbulent times, Romanian markets are experiencing vibrant PE fund activity across a wide plethora of sectors. Popovici Nitu Stoica and Asociatii Managing Partner Florian Nitu, Wolf Theiss Partner Ileana Glodeanu, and Schoenherr Partner Madalina Neagu take a deep dive into the markets and their drivers.
CEELM Top 10: Most-Read Briefings
The CEELM Top 10 series looks back over the past ten years and celebrates the milestones we have achieved together. First up: most-read Briefings, with each article featuring a short description reflecting the authors’ opinion at the time.
Kinstellar Advises Jantzen Renewables on Sale of 710-Megawatt PV Cluster in Romania to OMV Petrom
Kinstellar has advised Danish developer Jantzen Renewables ApS on its sale of the Helios 1 photovoltaic cluster in Romania to OMV Petrom. Schoenherr reportedly advised OMV.
Schoenherr and PHH Advise on HS Timber and Hat Trick Joint Venture
Schoenherr has advised HS Timber Industrieinvest on establishing a joint venture with Hat Trick to build a sawmill in Argentina and produce and trade logs worldwide. PHH advised Hat Trick.
Schoenherr Advises Audiotonix Group on Sonible Acquisition
Schoenherr, working with the UK's Marriott Harrison, has advised the professional audio mixing console manufacturer Audiotonix Group on its acquisition of Austrian start-up Sonible. Held Berdnik Astner & Partner and RafterMarsh reportedly advised the sellers.
Schoenherr and Wolf Theiss Advise on Raiffeisen-Landesbank Steiermark EUR 500 Million Issuance
Schoenherr has advised the joint lead managers on Raiffeisen-Landesbank Steiermark’s EUR 500 million issuance of mortgage-covered bonds. Wolf Theiss advised the issuer.
Did You Know: 11 Firms Atop 2023 Energy/Natural Resources Leaderboard
Did You Know that a total of 11 law firms have worked on four or more reported Energy/Natural Resources deals in CEE so far this year? According to the Activity Rankings function of the CEELMDirect website, the leaderboard is led by Norton Rose Fulbright, which has worked on ten Energy/Natural Resources deals reported since January 1, 2023.
Is the German Supply Chain Due Diligence Act Relevant for Czech Businesses?
The German Supply Chain Due Diligence Act (Lieferkettensorgfaltspflichtengesetz; "LkSG") is effective from 1 January 2023 for companies and branches based in Germany with more than 3,000 employees, with further extension to companies with more than 1,000 employees from 1 January 2024.
Schoenherr Advises Catalyst on EUR 2 Million Investment in ESX
Schoenherr has advised the Catalyst Romania Fund II on a EUR 2 million transaction involving a sports subscription start-up by ESX.
Schoenherr Advises Rhone Capital on Public Cash Offer for RHI Magnesita Stake
Schoenherr, working alongside Sullivan & Cromwell, has advised Rhone Capital on its public cash offer for up to 29.9% of the share capital of RHI Magnesita.
Czech Competition Authority Blocks a Merger: Exception or Start of New Trend?
Last week, the Czech Competition Authority ("CCA") blocked an acquisition of part of První novinová společnost a.s. ("PNS") by Česká pošta, s.p. ("Czech Post"). While it is impossible to foresee the exact future of merger control enforcement in the Czech Republic, what is clear is that the CCA with this decision, whether intentionally or not, has sent a message to the market that it is ready to take the hardest line on a merger if it raises competition concerns. We summarize main details of the case and additional thoughts on its impact below.
Romania Moves Towards Authorising Cryptocurrency Exchanges and Digital Wallet Providers
Cryptocurrency, fiat currency exchange services and digital wallet providers could soon become authorised in Romania. This comes on the heels of the Ministry of Finance publishing a draft government decision that seeks to create the legal framework for the authorisation and operation of these service providers.
Sustainability-linked Loans in Hungary
Sustainability is crucial for ensuring the long-term wellbeing of the planet and future generations. It encompasses responsible practices that preserve natural resources, mitigate climate change, and promote social and economic balance, ultimately creating a harmonious and sustainable world for all.
Schoenherr Advises euShipments.com on Helpship Acquisition in Romania
Schoenherr has advised BlackPeak Capital portfolio company euShipments.com on its acquisition of a majority stake in Romanian e-fulfillment provider Helpship.
What is a Foreign Subsidy?
Regulation (EU) 2022/2560 on Foreign Subsidies (the "FSR") aims to address distortions caused by foreign subsidies in the single market. In this part of our FSR Insight Series, we explain the fundamental notion of what constitutes a "foreign subsidy" within the meaning of the FSR. You will find a basic definition in Article 3 FSR, with some further considerations in recitals 11 to 16 of the Regulation.
Deal Expanded: Schoenherr’s Christoph Moser and Angelika Fischer Talk About the DOTY in Austria
CEELM: First, congratulations on winning the Deal of the Year award in Austria!