CEE Legal Matters

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  • Rymarz Zdort Maruta Advises XXXLutz on Acquisition of Black Red White

    Rymarz Zdort Maruta has advised the XXXLutz furniture retail chain on its acquisition of the Polish furniture group Black Red White. 

    The transaction remains contingent on regulatory approval.

    According to Rymarz Zdort Maruta, XXXLutz Group initially invested in BRW in 2022 by acquiring 50% of its shares, and this recent transaction enabled the group to acquire the remaining 50%, thereby gaining full control of BRW. 

    The Rymarz Zdort Maruta team included Managing Partner Magdalena Pyzik-Walag, Counsel Pawel Mazur, Senior Associate Maciej Wisniewski, and Associates Joanna Ksepko and Sebastian Stepinski.

    Rymarz Zdort Maruta did not respond to our inquiry on the matter.

  • TGS Baltic Advises Sutntib Tewox on Acquisition of Two Lidl Store Buildings in Lithuania

    TGS Baltic has advised a Sutntib Tewox subsidiary on its acquisition of two Lidl store buildings from Lidl Lietuva through a leaseback transaction.

    Tewox is a special, closed-end real estate investment company. According to TGS Baltic, the two stores the company acquired are located in Jurbarkas and Panevezys, each with an area of approximately 2,000 square meters.

    The TGS Baltic team included Partner Dainius Stasiulis, Chief Expert Simas Paukstys, and Senior Associate Laurynas Kontenis.

    TGS Baltic did not respond to our inquiry on the matter.

  • White & Case and Greenberg Traurig Advise on CCC’s New Share Issuance

    White & Case has advised a banking syndicate on CCC’s offer of new series N ordinary bearer shares through an accelerated book-building process valued at over PLN 1.55 billion. Greenberg Traurig advised CCC.

    The consortium of banks included Powszechna Kasa Oszczednosci Bank Polski, Trigon Dom Maklerski, Bank Handlowy w Warszawie, Citigroup Global Markets Europe, Bank Polska Kasa Opieki, Pekao Investment Banking, BNP Paribas, mBank, Santander Bank Polska, Banco Santander, and Wood & Company Financial Services.

    According to White & Case, the transaction, structured as a private subscription, involved the issuance of 8,157,894 series N shares at an issue price of PLN 190 per share. The offering attracted both Polish and foreign investors, with shares allocated exclusively to selected qualified investors and those acquiring securities with a total value of at least EUR 100,000 in Poland, as well as under certain exemptions from the prospectus requirement and outside the US under Regulation S of the US Securities Act of 1933, as amended.

    Moreover, White & Case reports that CCC plans to use the funds raised from the share issue to finance the cash portion of the buyout of Modivo’s minority shareholders (as reported by CEE Legal Matters on February 24, 2025).

    The White & Case team in Warsaw included Partner Marcin Studniarek, Local Partner Monika Duzynska, and Associate Dawid Ksiazek.

    The Greenberg Traurig team included Partner Rafal Sienski, Senior Associate Grzegorz Socha, and Associates Kamil Nagawski and Szymon Swierszcz.

  • NKO Partners and MMD Advokati Advise on Pro Group’s Acquisition of Smart Tiger

    NKO Partners has advised Pro Group on its acquisition of a 70% majority stake in Smart Tiger. MMD Advokati advised the seller, Slobodan Milivojevic.

    Zagreb-based Pro Group is a licensed group in Croatia for consumer credit mediation, housing lending, and brokerage insurance services.

    Smart Tiger is a Serbian company that provides financial counseling and mediation services for cash and housing loans. 

    The NKO team included Partner Djordje Nikolic, Senior Associate Benjamin Graca, and Associate Tara Butulija.

    The MMD team included Partners Rastko Malisic and Oliver Radosavljevic and Associate Andrea Arsic.

  • Avellum Advises Concorde Capital on Acquisition of Beiken Energy Ukraine

    Avellum has advised Concorde Capital on its acquisition of Beiken Energy Ukraine.

    Concorde Capital is a Ukrainian investment company.

    Beiken Energy Ukraine is an oil and gas drilling specialist operating in the Poltava and Kharkiv regions and is also part of the holding of Chinese company Beiken, a private oil and gas service company.

    The Avellum team included Partner Yuriy Nechayev, Managing Associate Oleksandr Kozhukhar, and Associates Olha Rudevych and Alina Yudina.

    Avellum could not provide more information on the matter.

  • CMS Advises Frauscher on Investor Shareholding Structure in Sensonic

    CMS has advised Frauscher on the shareholding structure in Sensonic following Kaynes Technology’s acquisition of 54% of Sensonic shares. Wolf Theiss reportedly advised Sensonic’s minority shareholder, Sintela.

    Sensonic specializes in the development, production, and distribution of software and hardware for distributed acoustic sensing in the rail industry. 

    Kaynes Technology is a listed Indian electronics manufacturer.

    The CMS team included Partner Sibylle Novak and Attorney at Law Thomas Aspalter.

  • Aksan Advises Oxtech Ventures on Investment in Fazla

    Aksan has advised Oxtech Ventures on its investment in Fazla.

    According to Aksan, Fazla is dedicated to preventing waste generation at its source through technology-driven, holistic waste management solutions, and it seeks to integrate generated waste into the circular economy to deliver environmental, social, and economic benefits.

    The Aksan team included Partner Sevki Ozgur Altindas, Senior Managing Attorney Oyku Okyay Unsal, and Associate Oguz Madran. 

    Aksan did not respond to our inquiry on the matter.

  • GFKK Advises on Bobrek Mine’s White Transformation

    GFKK Grzybczyk Kaminski Gawlik Radcy has advised Weglokoks Kraj on developing a “white transformation” model for the Bobrek Mine in Bytom, Poland, marking a shift away from hard coal mining.

    According to GFKK, in accordance with the 2021 Social Agreement between mining companies, trade unions, and the government, the project aims to repurpose the mine’s assets for new activities unrelated to coal processing. Planned initiatives include constructing energy storage facilities, producing heat using groundwater, and developing transmission and transport infrastructure on the mine’s surface.

    The GFKK team included Partners Beata Kozak-Matusiak and Michal Grzybczyk.

    GFKK did not respond to our inquiry on the matter.

  • Sayenko Kharenko Advises Canada on CAD 5 Billion Loan to Ukraine

    Sayenko Kharenko has advised the Government of Canada on a new CAD 5 billion loan to Ukraine. Avellum reportedly advised the Ukrainian Ministry of Finance.

    According to Sayenko Kharenko, the loan, with a 30-year maturity, is provided under the G7 Extraordinary Revenue Acceleration Loan initiative, which enables repayment and servicing of the loan using future revenues from immobilized Russian sovereign assets. The ERA Loan initiative will disburse approximately USD 50 billion in bilateral loans from G7 members to support Ukraine.

    The Sayenko Kharenko team included Partner Igor Lozenko, Senior Associate Oles Trachuk, Junior Associate Artem Medvetskyi, and Paralegal Polina Savinska.

  • Bernitsas and Koutalidis Advise on J.C. Flowers & Co’s Acquisition of Pepper Advantage Limited

    Bernitsas has advised J.C. Flowers & Co. on its acquisition of Pepper Advantage Limited. Koutalidis advised Pepper Global on the sell-side.

    J.C. Flowers & Co. is a private investment firm that has invested over USD 18 billion in 67 portfolio companies across 18 countries. 

    Pepper Advantage Limited is a credit management firm with operations across Europe and Asia backed by investment firm KKR.

    The Bernitsas team included Partners Maria Nefeli Bernitsa and Lambros Belessis, Counsel Anastasia Mallerou, and Associate Marinos Shiapanis.

    The Koutalidis team included Partners Yiannis Loizos and Dora Karagiorgou, Senior Associate Maria Petropoulou, and Associate Chrysi Apostolou.