CMS has advised the Romanian Commodities Exchange on its acquisition of a 75% stake in the Bulgarian Energy Trading Platform.
The Bulgarian Energy Trading Platform is Bulgaria’s second gas exchange market and the first privately owned.
The CMS team included Partner Atanas Bangachev, Senior Associates Denitsa Dudevska, Alexander Rangelov, and Katya Todorova, and Associates Nikola Naydenov and Nadya Chukova.
E+H has advised Megatech Industries on its reorganization from financial distress and subsequent sale to Italian mobility supplier Sapa. Wolf Theiss, working with Gianni & Origoni, advised Sapa.
According to E+H, the transaction marks a significant strategic move for Megatech – a major European manufacturer of plastic-based interior and exterior automotive components with approximately 1,800 employees and operations across nine production facilities in six countries – by securing a strong partner in Sapa.
Sapa is a supplier of plastic components to vehicle manufacturers such as Stellantis, Volkswagen, and BMW. According to E+H, the acquisition significantly expands Sapa’s geographical presence, particularly in Spain, Portugal, Poland, Germany, the Czech Republic, and Brazil.
The E+H team included Partners Marcus Benes, Alric Ofenheimer, Arndt Blaschka, Clemens Lanschuetzer, Judith Feldner, Christian Joellinger, Laurenz Liedermann, and Karoline Hofmann, Attorneys at Law Wolfgang Koefer and William Redl, and Associates Georg Ball, Alexander Moser, Yvonne Handler, Marcel Neuhauser, Alexander Koschell, Dilara Mamuk, Aleksandra Hübl-Langer, and Julian Tatschl.
The Wolf Theiss team included Partners Andreas Schmid, Florian Kusznier, and Ralf Peschek, Counsels Markus Aigner, Mimo Hussein, Raphael Valenta, and Eva Stadler, Consultant Karin Spindler-Simader, and Associate Philip Richter.
Dutescu & Partners has represented Leonhard Weiss Group in a court case against the public contracting authority in Romania.
Leonhard Weiss Group is a road construction contractor in Europe.
According to Dutescu & Partners, the case resulted in “obtaining the public contracting authority’s obligation to pay additional sums generated by the extension of the execution period due to its fault, as well as the payment of penalty legal interest.” Moreover, according to the firm, the Bucharest Court of Appeal ordered the “beneficiary to pay sums representing the adjustment of the principal debt with the inflation rate, starting from the date of the initial notification.”
Dutescu & Partners team was led by Managing Partner Cristian Dutescu.
Karanovic & Partners has advised the Green for Growth Fund on a EUR 3 million loan to Lovcen Bank Podgorica.
The Green for Growth Fund is a specialized impact investment fund to mitigate climate change and promote sustainable economic growth.
The Karanovic & Partners team included Partners Katarina Guduric and Maja Jovancevic Setka and Senior Associate Sandra Perisic.
White & Case and its Turkish affiliate GKC Partners have advised the joint bookrunners on the debut Rule 144A/Reg S green bond issuance by Limak Yenilenebilir Enerji.
According to White & Case, the issuance comprises an initial USD 450 million offering followed by a USD 75 million tap issuance, consolidated into a single series. The notes, issued under Turkish law, are senior amortizing obligations due 2030 and are listed on the Official List of The International Stock Exchange.
The joint bookrunners included Emirates NBD Capital, J.P. Morgan Securities, and Bofa Securities on the initial offering, with Bofa Securities handling the tap issuance.
The GKC Partners team included Partner Ates Turnaoglu, Counsel Derin Altan, and Associates Kaan Alkan, Sehriban Unlu, and Muhammed Asula.
Gessel has advised BNP Paribas Bank Polska on a co-investment, via a special purpose vehicle controlled by Custodia Capital, as part of the leveraged buyout of a majority stake in Profi.
Profi is a Polish producer of ready-made soups and pates.
Custodia Capital is a private equity firm supporting small and medium-sized enterprises in Central and Eastern Europe.
The Gessel team included Partners Malgorzata Badowska and Bernadeta Kasztelan-Swietlik, Counsel Klaudia Krawiec-Guz, Senior Associates Damian Bednarczyk and Natalia Lesna, and Junior Associate Zuzanna Sojka.
Gessel did not respond to our inquiry on the matter.
Sayenko Kharenko, working with Appleton Luff, has represented Promet Steel – part of Metinvest – in an anti-dumping investigation by Canadian authorities.
According to Sayenko Kharenko, the investigation regarded imports of certain concrete reinforcing bars from Bulgaria, Thailand, and the United Arab Emirates.
In 2020, Sayenko Kharenko advised on Metinvest’s USD 333 million Eurobond issuance and cash tender offer (as reported by CEE Legal Matters on October 20, 2020). The firm also advised on Metinvest’s 2019 and 2020 Eurobond issuances (as reported by CEE Legal Matters on May 14, 2018 and November 25, 2019, respectively).
The Sayenko Kharenko team included Partner Anzhela Makhinova, Associate Oleksandra Sandul, and Paralegal Maksym Mykytiuk.
Papapolitis & Papapolitis, working with Paul Weiss, has advised Oak Hill Advisors on its equity investment of up to EUR 115 million in IDEAL Holdings, with a co-investment right for an additional EUR 200 million over the next two years. Sarantitis and Reed Smith reportedly advised IDEAL Holdings.
According to Papapolitis & Papapolitis, the transaction established a corporate vehicle to hold IDEAL Holdings’ investments, with OHA acquiring a 15% stake and an option to increase its stake by an additional 10%.
The Papapolitis & Papapolitis team included Partners Elmina Chadio, Nikolas Katsaros, and Maria Karabella, Counsel Panayiotis Papageorgiou, Senior Associates Chrysoula Giannopoulou and Athanasia Stefanidou, and Associates Antonia Rountou and Charis Chatzioglou.
Asters has advised the International Finance Corporation on the restructuring of a USD 120 million loan facility provided to Nibulon. Baker Botts reportedly advised Nibulon.
Nibulon is a Ukrainian grain exporter and market operator.
According to Asters, the new arrangements aim to help Nibulon manage operational difficulties and disruptions caused by the armed aggression of the Russian Federation against Ukraine. This loan restructuring is a key component of Nibulon’s global restructuring program, designed to defer financial obligations and create room for growth during these challenging times.
The Asters team included Partner Iryna Pokanay, Senior Associate Inna Bondarenko, and Associate Viktoria Zagreba.
Durmaz has advised CosmoBlue Media on its acquisition of Youlook Global Limited. Hunters reportedly advised the sellers.
CosmoBlue Media is a media company.
Youlook Global Limited is an entertainment company.
The Durmaz team included Partner Azzi Bora Durmaz and Associates Fatma Aslihan Beji and Sevval Bahar Olam.