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  • Greenberg Traurig Represents BNP Paribas in Public Offering on the Warsaw Stock Exchange

    Greenberg Traurig has advised BNP Paribas Bank Polska and its French main shareholder, BNP Paribas, in the public offering of shares of BNP Paribas Poland listed on the Warsaw Stock Exchange.

    The value of the offer was PLN 231.2 million (approximately EUR 55 million).

    Citigroup Global Markets Limited and Dom Maklerski Banku Handlowego acted as global coordinators and BNP Paribas France acted as a joint bookrunner. In the transaction, 5,026,539 shares were offered and sold for a total value of PLN 231.2 million to retail and institutional investors in and outside of Poland, including outside of the United States pursuant to Regulation S.

    According to Greenberg Traurig, the firm “provided comprehensive legal counsellng services to BNP Paribas Bank Polska and BNP Paribas France in connection with the preparation and implementation of the issue of BNP Paribas Bank Polska shares by the way of a public offer, participated in devising the structure of the deal and preparing the relevant documentation, including the prospectus.”

    The Greenberg Traurig team was led by Warsaw Partner Ireneusz Matusielanski, with Partner Federico Salinas advising on U.S. law matters and issues relating to international market practice. The team also included Senior Associate Mateusz Chmielewski and Associates Adam Puchalski, Dorota Jenerowicz, Marek Kleczek and Piotr Platnerz. James Mountain, Partner in Greenberg Traurig’s London office, advised on English law matters.

    Matusielanski claimed that “the structure of this transaction was quite interesting as it was preceded in 2013 by a share capital decrease effected through a reduction of the nominal value of the shares,” 

    The global coordinators were represented by Allen & Overy. 

     

     

  • Baker & McKenzie Advises ING on Loan Facility to Izmir Metropolitan Municipality

    Esin Attorney Partnership — the Turkish member firm of Baker & McKenzie International — and Baker & McKenzie’s Frankfurt office have advised ING on a covered term loan facility to Izmir’s Metropolitan Municipality.

    The Firm advised ING Bank, a branch of ING-DIBA, on a EUR 55,000,000 MIGA covered term loan facility to the Izmir Metropolitan Municipality in relation to its payment obligations for the construction of two urban tramway lines. The tramway lines will be constructed in Karsiyaka and Konak, two of Izmir’s largest districts. The deal was signed on March 4, 2014.

    Izmir is Turkey’s third most populous city with a metropolitan population of 3.9 million. Aziz Kocaoglu is the Mayor of Izmir Metropolitan Municipality. 

    Frankfurt Banking & Finance Partner Oliver Socher, and Istanbul Banking & Finance Partner Muhsin Keskin advised ING in the matter, along with Frankfurt-based Senior Counsel Anouschka Zagorski, and Istanbul-based Associates Mustafa Ozkan Ozdogan and Berk Cin.

    Esin Attorney Partnership says that it has advised ING Group on a total 12 matters in the past two years, including, as reported by CEE Legal Matters on March 25, 2014, advising ING Bank Turkey on a USD 134,400,000 and EUR 263,400,000 dual tranche dual-currency term loan agreement between ING Bank and a syndicate of 23 major banks from 11 countries.

     

     

  • Bondoc & Asociatii Hires Disputes Partner

    Bondoc & Asociatii, the former White & Case Bucharest Office has hired Viorel Dinu as a Partner and Head of Litigation.

    Joining from Musat & Asociatii, where he was a partner within the dispute resolution team, Dinu has over 16 years of practice in litigation and arbitration. He has significant experience in corporate, commercial and civil disputes, administrative and tax litigation, including public procurement cases, debt recovery and insolvency matters. As a litigation counsel, he pleaded in competition and intellectual property cases and was also involved in complex ICC and ICSID arbitration cases. 

    Lucian Bondoc, Managing Partner of the firm,said: “Viorel is part of a select group of litigators in Romania. By co-opting Viorel, we continue to expand and strengthen our litigation team with a recognized professional. With his care for high quality services, Viorel identifies himself with our performance-fostering culture, and I am convinced that we will continue to significantly develop our firm’s strong litigation practice.”

    Viorel Dinu added: “I am glad to join the team of Bondoc si Asociatii, a team of highly trained legal practitioners. The extremely solid and high profile client portfolio, the experience of the litigation team both at a local and at an international level, as well as my experience with Lucian represent excellent premises for outstanding results in working together. Also, the alliance of the firm with White & Case LLP offers us the opportunity to be connected with one of the most developed dispute resolution practices in the world, to the benefit of our clients.”

    Viorel Dinu graduated the Faculty of Law of the University of Bucharest in 1997 and holds an LL.M in General law from the George Washington University (Fulbright scholar, 2002 – 2003). He is a member of the Bucharest Bar and of the New York State Bar.  

    This is the second Partner to be hired by the firm, following the addition of Mihaela Bondoc (reported by CEE Legal Matters on March 21, 2014), and the second hire of the firm from Musat & Associatii within a month’s time, as Horatiu Dan Dumitru joined as a Managing Counsel in April. 

        

     

     

  • KG Law Firm Ends Relationship with Partner

    The Kyriakides Georgopoulos Law Firm announced that it has severed its relationship with Partner Despina Doxaki and “mutually agreed to terminate our cooperation, effective as at May 16th, 2014.”

    No further details were given, though the firm issued a statement explaining that “Partners Elisabeth Eleftheriades and Ioanna Antonopoulou shall henceforth be responsible for the handling of all matters related to project finance, PPPs and related matters.”

    According to the firm’s website — which on the night of May 14th, at least, continued to list her as one of the firm’s partners — Doxaki “specializes in banking and finance.” Her bio on the KG Law Firm website continues that “she has worked with Standrook and Hooper, the EU, as in house counsel to KPMG (tax planning), Technical Olympic, C.I. Sarantopoulos, and Alpha Bank. Despina deals with project finance, corporate finance and banking transactions and has been involved in corporate restructuring projects as well as development of investment schemes. She has working experience in Greece, the UK and Belgium.”

    Doxaki informed CEE Legal Matters that she is relocating to London to start working for an international firm, thought the name of the firm is not yet made public.    

     

     

  • Growing Interest in e-Discovery in CEE

    Growing Interest in e-Discovery in CEE

    In preparation for the LawTech Europe Congress due to take place this upcoming October, CEE Legal Matters spoke with one of the Speakers at the conference, Michael Schulte, representing kCura, an e-discovery service provider making a push into the CEE market, about the growing interest of firms in the region in such technology-driven solutions.

    Michael Schulte

       

    Michael Schulte is an account and channel manager, based in kCura’s London office.  He began his career in e-disclosure with kCura in 2009 as a member of the client services team, providing technical support to Relativity partners and clients.  After learning about Relativity from the technical side, he moved to his current role on the sales and marketing team in 2011.  Michael specializes in supporting the business development efforts of kCura’s international network of channel partners.

     CEELM: If you had to describe e-discovery and what kCura does in one sentence each, how would it sound like?

    M.S.: Broadly, I would describe e-discovery as the management and exchange of electronic data as it relates to litigation and investigations.  kCura is a Chicago-based software company whose software helps users address and overcome the challenges inherent in the various stages of data management and e-discovery.

     CEELM: You will be attending the LawTech Europe Congress in Autumn this year to showcase your software. What are the main reasons that draw you towards the CEE region as a potential market for your product(s)?

    M.S.: We very much see the CEE region as an emerging market for e-discovery – and have already seen our software, Relativity, expanding there.  Additionally, many of our channel partners already operate or are beginning to operate in the CEE region, so we’re also here to support their efforts.  Lastly, we hope to get to know the market more – and better understand its unique demands – so we can better support the region’s growing Relativity community.

     CEELM: Based on your assessments of the markets in the region, how common is the use of e-discovery software by law firms?

    M.S.: Typically, we find that firms in the CEE region haven’t seen the data volumes that we see in the UK or the U.S.  Nevertheless, this seems to be changing – we are seeing increasing interest in using e-discovery software and technology overall to meet the requirements of managing large data.  As data volumes grow, the need for technology grows along with it, and we feel that Relativity is well-suited to meet those needs.

     CEELM: Do you see a growing trend in the region as a whole in using e-discovery solutions? What do you believe is the main reason for this?

    M.S.: Yes, we do see a growing trend, but it’s difficult to point to the main reason for it. Overall, as mentioned, we see that data sizes are growing in the region, so the need to support e-discovery with powerful technology is growing along with it. This seems to lead to an increased demand not only for newer technologies, but also for the people that are skilled in putting those technologies to use.  We’re consistently supporting our partners in the region as they build out their services here.

     CEELM: This increased demand that you are registering, does it come primarily from UK/US firms operating in the CEE region who have used such software for a while now in their global offices or are local firms in the region turning towards such solutions as well?

    M.S.: It seems to be a combination of both. I think that as firms in the CEE region see their data volumes growing, they are increasingly looking towards the markets and solutions that have been dealing with larger volumes over the last few years. At the same time, we are starting to see our US-based and Western Europe-based partners and clients pushing into the region to proactively serve the growing need for e-discovery solutions.

     CEELM: How has e-discovery been evolving recently, and what trends will continue?

    M.S.: One of the most noticeable trends that we’ve seen is that the industry as a whole is really embracing advanced text analytics technologies, like computer-assisted review and email threading. As data volumes continue to grow, those technologies are becoming more and more important.  With our partners and clients, we’ve seen a significant spike in the use of Relativity Analytics and Relativity Assisted Review to help address the growing number of documents that need to be reviewed.  We plan to focus heavily on pushing innovation in this area, as we see it as vitally important to the industry.  

  • Hogan Lovells Hires New Energy Partner and Team in Russia

    Hogan Lovells has added Partner Alexander Dolgov to its global Infrastructure, Energy, Resources and Projects group (IERP) in Moscow.

    Dolgov will join the firm on May 16, and will bring Associates Konstantin Makarevich and Fedor Kovatev and Trainee Grigory Fedorov with him. The team comes to Hogan Lovells from Gide Loyrette Nouel, where Dolgov moved in 2010 from Allen & Overy. He focuses on public-private partnerships and project finance in the infrastructure and energy sectors. His client base includes Sberbank, EBRD, BNP Paribas, and other public authorities, among many others. In addition to his core PPP and infrastructure practice, Dolgov also has significant debt capital markets expertise.

    According to a statement released by Hogan Lovells, “CIS is a key market for energy and infrastructure – the European Bank for Reconstruction and Development (EBRD) estimates the required investment in Russian infrastructure to be USD 753 billion over the next 10 years; with 80 projects in the medium to long term deal pipeline.” Adrian Walker, Global Co-Head of Hogan Lovells Infrastructure, Energy, Resources & Projects practice, said of the hire that “Alexander and his team have a great practice and his arrival adds to our immensely strong global team. The last two years have been exceptional for us and we have been very busy advising on over USD 150 billion of deals.  With Alexander and a number of other significant investments, we are in a fantastic position to ensure we can deliver our exceptional global experience to our clients in all jurisdictions. Our clients are delivering projects that make a real, practical, difference to peoples’ lives and we at Hogan Lovells are proud to support them in that.”

    Dolgov added that: “Hogan Lovells gives me a truly global network, an impressive client base and significant ambitions for growth and I’m delighted to be joining the team.”  

     

     

  • Arzinger Lawyer Elected Chairman of Ukrainian Bar Committee

    Arzinger has announced that Senior Associate Stanislav Gerasymenko has been unanimously elected Chairman of the Real Estate and Construction Committee of the Ukrainian Bar Association.

    According to a statement released by the firm, Gerasymenko “sees the main purpose of the Committee’s work as creating a convenient platform for real estate and construction professionals to exchange their views and experiences as well as for all those interested in the problems and prospects of the industry.” In addition, according to the firm’s statement, he “notes that a rule-of-law state (which is the most urgent task for every lawyer, regardless of his or her political preferences) can be established only by combining the efforts to refine and harmonize the existing legal framework, to institute appropriate safeguards for protecting the rights of investors and investments as well as to improve the legal culture of experts and market participants, which is also important for restoring Ukraine’s positive image worldwide. After all, investment in real estate (industrial, commercial or residential) is one of the most objective indicators of any country’s investment attractiveness.”

    The Acting President of the Ukrainian Bar Association is Egorov Puginsky Afanasiev & Partners Ukrainian Partner Oleksii Reznikov, who was appointed on April 11, 2014.  

     

     

  • CHSH Advises Herz Group on Acquisition of Hirsch Servo

    CHSH Advises Herz Group on Acquisition of Hirsch Servo

    CHSH Cerha Hempel Spiegelfeld Hlawati has advised the Austrian Herz group, which has operations worldwide, in connection with the acquisition of the majority of the shares in Hirsch Servo.

    Sandis Bertaitis

     

    Heinrich Foglar-Deinhardstein and Thomas Trettnak (CHSH)

    The Herz group has 12 production sites across Europe, as is the leading manufacturer of products used in facility management, as well as biomass boilers and heat pumps. Hirsch Servo is the EPS specialist listed on the Vienna Stock Exchange (EPS stands for expandable polystyrene – better known under the brand names Styropor® and Porozell®), with production sites in Austria, Hungary, Poland, Romania, Slovakia, and Italy. The company reported EUR 88 million in sales in 2013.

    The Herz group acquired approximately 62% of the total share capital of and voting rights in Hirsch Servo, both indirectly via Lifemotion, which was originally controlled by Matthias Calice, and directly from Kurt Hirsch Holding. It has therefore published a mandatory offer to acquire all of the shares in Hirsch Servo in accordance with the relevant provisions of the Austrian Takeover Act.

    According to CHSH, “the Herz group intends to continue to support the management of Hirsch Servo in implementing the restructuring measures the company has already embarked on, its growth strategy and the investment projects that are necessary in that regard.”

    The team at CHSH was led by Partner Thomas Trettnak and also consisted of Partner Heinrich Foglar-Deinhardstein and Associates Jakob Hartig, Franziska Mensdorff-Pouilly, and Stephanie Sauer.

     

     

  • Schoenherr Advises Palfinger on Mutual Capital Interlinking With SANY

    Schoenherr has advised Palfinger and individual selling Palfinger shareholders on the establishment of a mutual capital interlinking between the company and SANY Heavy Industries Co., a member of China’s SANY group.

    The Salzburg-based Palfinger is a manufacturer of hydraulic lifting systems. The overall value of the transaction amounts to approximately EUR 220 million.

    The mutual capital interlinking was implemented through multiple measures. The Palfinger group subscribed to and acquired a 10% interest in the share capital of SANY Automobile Hoisting Machinery, the SANY group unit specialized in mobile, tower, and crawler cranes. At the same time, SANY Germany subscribed to 1,863,258 newly-issued Palfinger shares in the course of a capital increase and acquired a further 1,863,258 shares from existing Palfinger shareholders.

    Robert Bachner, Schoenherr’s lead partner in the transaction, spoke of the challenges involved. “The structuring of the overall transaction and the negotiations in China were challenging and exciting – and confirmed our experience that transactions involving China follow fundamentally different rules. Our experience with Chinese transactions and our resulting understanding of those rules significantly contributed to the successful implementation of the complex overall project.” 

    The implementation of Palfinger’s capital increase was also complicated, because while the shares were issued for a cash price of EUR 29 per share, the legal requirements applicable to a capital increase by contribution in kind had to be observed. In addition, all three parts of the transaction (share purchases from several shareholders, as well as the two capital increases in Austria and China) had to be interconnected, coordinated, and jointly implemented. Palfinger’s capital increase and all share purchase transactions were completed and became effective on May 14, 2014.

    Schoenherr advised Palfinger and the selling shareholders and was responsible for structuring, drafting and negotiating the relevant contracts, as well as for the overall management of the transaction process. This included the transaction’s implementation under company law, on-site negotiations with Palfinger’s Chinese partners, the drafting of the transaction documentation, and coordinating the admission to trading of the newly-issued shares.

    The Schoenherr team was led by Partner Robert Bachner, assisted by Partner Franz Urlesberger, Attorney Rita Wittmann, and Associates Clemens Rainer and Manuel Ritt-Huemer.

    SANY was advised by Dorda.  

     

     

  • Karanovic & Nikolic Advises Mid Europa Partners on Sale

    Karanovic & Nikolic has advised Mid Europa Partners, a leading European private equity firm, on the sale of SBB/Telemach Group to Kohlberg Kravis Roberts & Co (KKR), a leading global investment firm.

    The transaction was first announced on October 15, 2013, and regulatory approvals have only recently been completed. Though financial terms were not disclosed, Mid Europa described the transaction as representing the “largest private equity exit in the former Yugoslavia.”

    The SBB/Telemach Group is the leading Pay-TV (cable, DTH) and broadband operator in South-East Europe, with a population of over 20 million in SBB/Telemach Group’s current operating perimeter. The SBB/Telemach Group operates in Serbia, Slovenia, Bosnia, Croatia, Montenegro, and Macedonia and has around 1.7 million cable and satellite TV, broadband, fixed, and mobile customers. Mid Europa Partners acquired SBB in 2007, in a transaction that Karanovic & Nikolic also advised on.

    Robert Knorr, a Senior Partner of Mid Europa, commented that “We acquired SBB, the leading Serbian pay TV provider in 2007 and through extensive investment in organic growth and 18 add-on acquisitions, transformed a national champion into a pan-regional leader serving 1.8 million RGUs across six countries. This transaction validates our long held conviction that this region offers excellent growth opportunities, and our ability to create value by building regional champions.”

    KKR’s Co-Founder and Co-CEO Henry Kravis was equally enthusiastic, saying: “This is our first direct investment in Southern Eastern Europe. It adds to our investments in more than 40 European companies across 12 countries and it is a sign of our confidence in the prospects of SBB/Telemach Group.”

    Karanovic & Nikolic’s legal team was headed by Partner Rastko Petakovic.