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In recent years, a principal aim of Hungary’s energy strategy has been to make the country self-sufficient in electric energy. In figures, this means reducing the import to 0% within ten years – as the country’s current dependency on import of approximately 30% is significantly above the EU average. The increasing price of gas and the decreasing price of electricity led to a decrease in the domestic production of natural gas, so the Hungarian energy policy had to turn to alternatives.

Greenberg Traurig has represented Cromwell European Real Estate Investment Trust, acting through its subsidiaries, on the acquisition of 16 predominantly freehold office properties in Poland, the Netherlands, and Finland. The sellers, reportedly represented by White & Case in London and Finland and Wolf Theiss in Warsaw, were entities related to Goldman Sachs. Allen & Overy reportedly acted as a legal counsel to the financing banks.

CMS Kyiv has advised international real estate investment fund Meyer Bergman on Ukrainian and English law aspects of its sale of the Aladdin Shopping Mall in Kyiv to Ukrainian Commercial Property Investment Holding, part of Dragon Capital. Aequo advised the sellers on the deal, while Wolf Theiss advised Sompo International on its provision of M&A warranty and indemnity insurance for the acquisition.

The 2019 Hungarian tax law changes, among other measures, have introduced a new group taxation regime and reflect the implementation of the provisions set out in the European Union’s Anti-Tax Avoidance Directive (ATAD). 

On October 29, 2018, leading Austrian law firms Dorda, Eisenberger & Herzog, Herbst Kinsky, PHH, Schoenherr, SCWP Schindhelm, and Wolf Theiss announced their joint launch of the “Legal Tech Hub Vienna”: a non-profit forum for LegalTech companies, start-ups, and other legal market participants to identify innovation potential and work together to implement technological tools appearing ever-more-rapidly on the legal market.

CEE Legal Matters has learned that, after ten years in CEE, and shortly after attending the annual Deal of the Year Awards Banquet in Budapest, Wolf Theiss Warsaw Co-Managing Partner Ron Given – a key member of the Deal of the Year Final Selection Committee, as he was last year – will be bidding adieu to the region and heading back home. We reached out to Given, a long-time friend of and supporter of CEE Legal Matters, to learn more, and to get his thoughts on a productive, profitable, and geographically-diverse decade in Central and Eastern Europe.

Wolf Theiss at a Glance

Established in 1957, Wolf Theiss is one of the leading European law firms in Central, Eastern and South-Eastern Europe with a focus on international business law. With 300 lawyers in 13 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.

Firm's website: http://www.wolftheiss.com/