CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
The Regulation (EU) 2022/2560 on Foreign Subsidies Distorting the Internal Market (FSR) formally entered into force on 12 January 2023, but the regime did not apply until 12 July 2023. On the same day, the respective Implementing Regulation (EU) 2023/1441 was published in the Official Journal.
Wolf Theiss has advised joint lead managers and bookrunners Raiffeisen Bank International and MM Warburg on the subscription and placement of UBM Development's EUR 50 million issuance of 7% green bonds. DLA Piper advised the issuer.
Boyanov & Co has advised Borealis on the Bulgarian aspects of the sale of its indirect shareholding in Neochim to Agrofert. Wolf Theiss advised Agrofert.
Wolf Theiss has advised Bain Capital Special Situations on the acquisition of an approximately 20% stake in Intel’s IMS Nanofabrication business, as part of a transaction that values IMS at approximately USD 4.3 billion. Hogan Lovells reportedly advised Intel.
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.
Wolf Theiss, working with Ropes & Gray, has advised Astorg on the separation of price-reporting agency Fastmarkets from businesss and financial information company Delinian.
On 22 March 2023, an amendment to the Transnational Provision of Services Act (Zakon o čezmejnem izvajanju storitev – ZČmIS-1, “Act on Cross-Border Services“) was adopted and partially came into force on 18 April 2023, with individual provisions becoming effective on 1 January 2024.
ODI Law has advised Slovenian diagnostic company MESI on the EUR 18 million investment received from SHS Capital's SHS VI Healthcare Investments fund. Wolf Theiss advised the investor.
On April 20, 2023, the European Commission ("Commission") adopted a merger simplification package ("Package") aimed at simplifying the Commission's review of concentrations under the EU Merger Regulation. The core of the Package is the expansion of the categories of cases which can be treated under the Commission's simplified procedure. In addition, the Package aims to streamline the review of simplified and non-simplified cases by introducing new notification forms.
Securing e-evidence and establishing efficient procedures is key.
A couple of legislative changes that affect working parents, foreign employees and posted employees recently came into effect in Slovenia.
Wolf Theiss has advised a group of investors represented by PolSolar on the engineering, procurement, and construction of a 250-megawatt solar power plant in Mezocsat, Hungary.
The Austrian real estate market has been characterized by steady growth over the last decade, driven by a strong economy, low-interest rates, and increasing demand from both local and foreign buyers.
On May 22, 2023, CEE Legal Matters reported that Wolf Theiss, working with Milbank, had advised the initial purchasers and lenders on Salzburg-based Benteler Group’s capital market debut issuance and loans amounting to over EUR 2 billion. CEELM reached out to Wolf Theiss Partner Matthias Schimka to learn more about the matter.
Wolf Theiss has advised the Sekyra Group on its forward sale of the Opatov II residential project to Dostupne Bydleni Ceske Sporitelny and the Vienna Insurance Group's Kooperativa Pojistovna.
In June 2023, Boyanov & Co announced that the sale of BNP Paribas Personal Finance Bulgaria to Eurobank (reported by CEE Legal Matters on February 14, 2023) had closed.
Contributed by Wolf Theiss.
On November 10, four Banking & Finance experts from Croatia, Hungary, Romania, and Serbia sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss banking consolidation, financing availability, the effects of high interest rates, bank capitalization, green financing, the specter of loan restructuring, and the other challenges the sector is facing.
With over 360 lawyers in 13 countries, over 80% of the firm’s work involves cross-border representation of international clients. We have concentrated our energies on a unique part of the world: the complex, fast-developing markets of the CEE/SEE region. Through our international network of offices, we work closely with our clients to develop innovate solutions that integrate legal, financial, and business know-how.
Wolf Theiss provides fully integrated corporate services in mergers and acquisitions, private equity, real estate, banking and finance, tax and insurance, employment law, competition law, energy law, privatisation, restructuring, public procurement and litigation. At Wolf Theiss, we measure our success by the success of our clients. We align our goals with yours to ensure that your needs are being met in even the most complex of cross-border matters. This means that we know how to listen to you and help you use the assets you already have while finding opportunities.
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