The political landscape in the Czech Republic might soon see a change, Schoenherr Partner Vladimir Cizek says, as “the recent regional elections shook the position of the leading party.” Still, he doesn't expect it to have much impact on foreign investment. He notes that previous political changes have not dissuaded investors from coming to the country, and their stream has been constant for decades.
Limited Stay at Home Orders and Travel Restrictions: What Is Allowed to Do?
As of 1 September 2020, Hungary closed its borders to non-Hungarian citizens again. The rules abolished the tricolour system of green, yellow and red countries qualifying literally all countries as red. The rules introduced then – by a recent legislative amendment – remain in force until 1 December 2020.
Schoenherr Successful for Orphan Pharmaceuticlas in Arbitration Against PharmaEssentia Corporation
Schoenherr has successfully represented Austrian AOP Orphan Pharmaceuticals AG in a Frankfurt-seated arbitration against Taiwan's PharmaEssentia Corporation. The tribunal awarded AOP declaratory relief, damages, costs, and interest, and dismissed all counterclaims.
How Final is a “No” in a Merger Control Decision in Bulgaria?
Until 2018 the Bulgarian Commission for Protection of Competition had never prohibited a concentration. In 2018, however, in consecutive decisions, the CPC prohibited the acquisition of CEZ by Inercom and the acquisition of Nova TV by the investment group PPF. In 2019 two other transactions – Eurohold/CEZ and Emko/Dunarit – were blocked.
Bulgaria at the Boil: Frustration with the Status Quo Pulls People to the Streets
Already struggling with the international coronavirus pandemic, Bulgaria has recently found itself dealing with a major internal political crisis as well – one which, ironically, despite the general incentive towards social distancing, has brought people outside of their homes and onto the streets of the nation’s major cities.
Schoenherr and Act Legal Austria WMWP Advise on Carbomed Financing Round
Schoenherr has advised Austrian start-up Carbomed Medical Solutions on a EUR 3 million financing round led by Aws Gruenderfonds. Act Legal Austria WMWP advised Aws Gruenderfonds on the deal.
M&A in Slovenia in 2020: Review and Preview
Although, like many other CEE jurisdictions, Slovenia experienced major COVID-19-related market turbulence in the first half of 2020, the market has nonetheless seen some interesting developments as well – and more activity is likely to follow in Q3 and Q4.
Investigation Against TikTok in Hungary – How the HCA Takes on the Tech World
The Hungarian Competition Authority (HCA) has initiated an investigation against TikTok, the popular social media platform. TikTok's capacity to generate vast amounts of consumer data and shower its users with ads has already sounded several alarm bells as regulators attempt to make sense of the phenomena that is digitalisation. The HCA took the initiative to scrutinise the platform with a focus on consumer protection.
Schoenherr Advises MET Group on Acquisition of 42 MW Wind Park in Bulgaria
Schoenherr has advised the MET Group on the acquisition of a 100% stake in a 42MW wind park in the Kavarna region of Bulgaria from Enel Green Power. Memery Crystal provided English law advice to the MET Group. CMS advised Enel Green Power on the transaction, which remains subject to regulatory clearance.
Schoenherr and Novalia Advise on Celonis's Acquisition of Integromat in Czech Republic
Schoenherr's Czech office has advised Germany’s Celonis on its acquisition of Integromat and its subsidiaries in the Czech Republic. Novalia advised the selling shareholders on the deal. Davis Polk reportedly also advised the buyer on the deal.
A Legislative Boost to the Energy Sector in Montenegro
The Law on Amendments to the Energy Act entered into force on 14 August 2020. It encompasses a set of changes aiming to simplify the existing procedures and to promote the development of the Montenegrin energy sector, especially in the context of the pending alignment of Montenegrin laws with the EU's acquis, as required under the negotiation chapter no. 15.
Pressure Selling Again in the Hotel Booking Sector – Cooperation with the Hungarian Competition Authority Prevented a Substantial Fine
In addition to the classic tasks of a competition authority, the Hungarian Competition Authority ("HCA") is also entitled to take action against unfair commercial practices against consumers if such practices are capable of significantly affecting competition. Following the first market study in the field of consumer protection in 2019 relating to the application of digital comparison tools (DCTs), the HCA did not hesitate to apply its findings in practice. In early 2020 it imposed a record fine on Booking.com BV for unfair commercial practices of misleadingly advertising certain hotel rooms with "free cancellation" and engaging in pressure selling. This is now followed by a decision establishing unfair practices of the biggest local market player, Szallas.hu, a main competitor of Booking.com. However, this time no fine was imposed.
Slovenia: Expected Developments and Competition Law Considerations in the Light of Fuel Market Liberalisation
On 23 September 2020, the Slovenian government decided that price control measures in the field of fuel products are no longer necessary, meaning that the retail fuel market will be fully liberalised from October 2020.
EU FDI Screening Regulation Enters into Force
As of 11 October 2020 the EU FDI Screening Regulation is in force, ending the long wait for a Union framework to screen foreign direct investments. The umbrella spanned by the EU FDI Regulation is a further (crucial) building block in the EU's endeavors to tighten and coordinate the screening of foreign direct investments.
Schoenherr, BPV Braun Partners, and Setina, Komendova & Partners Advise on KB SmartSolutions' Acquisition of Stake in Platebni Instituce Roger
Schoenherr's Czech office has advised KB SmartSolutions, s.r.o. on the acquisition of an almost 25% stake in Platebni Instituce Roger a.s, from Echilon Capital s.r.o. BPV Braun Partners advised Echilon Capital on the transaction, and Setina, Komendova & Partners advised Platebni Instituce Roger's CEO Adam Soukal and CTO Tomas Slobodnik.
Schoenherr and CMS Advise on S Immo AG’s Acquisition of Zagrebtower Office Complex From CA Immo
Schoenherr has advised S Immo AG on the acquisition of the Zagrebtower office complex from CA Immobilien Anlagen AG. CMS advised the sellers on the deal.
Eisenberger & Herzog, Schoenherr, Milbank, and Rojs, Peljhan, Prelesnik & Partners Advise on Sartorius' Acquisition of BIA Separations
Eisenberger & Herzog, Milbank, and Rojs, Peljhan, Prelesnik & Partners have advised the Sartorius Group on its acquisition of BIA Separations and the merger of is into its subgroup Sartorius Stedim Biotech. Schoenherr advised the unidentified majority shareholder on the sale.
Schoenherr Advises AddLife on Acquisition of DACH Medical Group
Schoenherr and Sweden's Delphi law firm have advised AddLife on its acquisition of all shares in the DACH Medical Group Holding AG. The unidentified sellers were advised by SCWP Schindhelm.