CEE Legal Matters

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  • Turunc Advises Gelecek Etki Fonu on Investment in Onlayer

    Turunc has advised Gelecek Etki Fonu (Future Impact Fund) on its investment in Onlayer in a round that also saw the participation of Maxis, Global Trust Ventures, and individual investors. Cigdemtekin Cakirca Aranci reportedly advised Onlayer.

    Onlayer is a provider of onboarding, monitoring, and compliance management tools for banks and payment service providers. 

    Gelecek Etki Fonu is a Capital Markets Board-regulated venture capital fund managed jointly by Tacirler Asset Management and Vestel Ventures.

    The Turunc team included Managing Partner Kerem Turunc, Partner Esin Camlibel, Managing Associates Naz Esen and Beste Yildızili Ergul, and Associates Yagmur Aker.

  • BMWC Advises Positive ARB on Investment Firm License in Croatia

    Bradvica Maric Wahl Cesarec has advised Positive ARB on obtaining its investment firm license issued by the Croatian Financial Services Supervisory Agency.

    According to BMWC, as part of an international group engaged in proprietary trading, Positive ARB is now fully authorized to conduct investment activities from Croatia.

    The BMWC team included Partner Branko Skerlev, Attorney at Law Andrea Smolic, and Associate Stjepan Gvozdic.

  • CMS Advises Actis on Acquisition of Dot Towers in Serbia

    CMS has advised Actis on the acquisition of Dot Towers through its Connectis Tower platform, adding 50 sites to Actis’ portfolio.

    According to CMS, the deal includes 12 ground-based macro towers and 38 rooftops, primarily located in central Belgrade and other key Serbian cities.

    The CMS team included Partner Marija Tesic, Counsles Marija Marosan and Srdjan Jankovic, Senior Lawyer Sandra Miljanic, and Lawyers Jelena Djordjevic and Teodora Vujosevic.

  • MFW Fialek and Kondracki Celej Advise on bValue Fund’s Investment in Solidstudio

    MFW Fialek has advised Solidstudio and its shareholders on the sale of a portion of its shares to the bValue Fund, along with an equity investment through a share capital increase as part of a multi-stage process. Kondracki Celej advised bValue Fund.

    Solidstudio, a Polish company based in Krakow, specializes in software development for the e-mobility industry, offering solutions for charging station operators and EV service providers.

    The MFW Fialek team included Partner Miroslaw Fialek, Associate Partner Rafal Siemieniec, Senior Associate Krzysztof Drzymala, and Associates Maciej Kiraga and Jakub Wilk.

    The Kondracki Celej team included Partner Rafal Celej, Senior Associate Karolina Piotrowska-Andryszczyk, Associates Weronika Dabrowska and Monika Twerdochlib.

  • White & Case and Rymarz Zdort Maruta Advise on Polish State Treasury’s USD 5.5 Billion Dual-Tranche Note Issuance

    White & Case has advised the State Treasury of the Republic of Poland on the issuance of a USD 5.5 billion dual-tranche of SEC-registered bonds. Rymarz Zdort Maruta, working with Latham & Watkins, advised the banks involved.

    The issuance was executed under the Republic of Poland’s Shelf Program registered with the SEC, with joint book-running managers BNP Paribas, Deutsche Bank Aktiengesellschaft, Goldman Sachs Bank Europe, and Banco Santander.

    According to White & Case, the issuance comprised USD 2.75 billion in five-year bonds and USD 2.75 billion in ten-year bonds. The five-year bonds, due on February 12, 2030, were priced at 75 basis points over US Treasury Notes maturing on January  31, 2030, yielding 4.995% with a coupon of 4.875% per annum. The 10-year bonds, due on February 12, 2035, were priced at 105 basis points over US Treasury Notes maturing on November 15, 2034, yielding 5.472% with a coupon of 5.375% per annum. 

    The White & Case team included Warsaw-based Local Partner Andrzej Sutkowski and Associate Michal Truszczynski as well as further team members in London.

    The Rymarz Zdort Maruta team included Partner Lukasz Gasinski, Counsel Adam Puchalski, and Senior Associate Przemysław Kopka.

  • Ellex Advises Sportland on Logistics Center Expansion with 4.2 Hectare Land Acquisition in Marupe

    Ellex has advised Sportland on its acquisition of 4.2 hectares of land in Marupe, Latvia. 

    According to Ellex, located near Riga airport and adjoining two existing Sportland properties, the plot will enable the expansion of Sportland’s logistics center. 

    The Ellex team included Partner Ilga Gudrenika-Krebs and Senior Associate Inese Freivalde.

    Ellex did not respond to our inquiry on the matter.

  • Kinstellar Advises Lafarge Serbia on Acquisition of Tribex Mining

    Kinstellar has advised Lafarge Serbia on its acquisition of Tribex Mining.

    Lafarge Serbia is a member of the Holcim Lafarge Group.

    Tribex Mining is the owner of the Jazovnik stone quarry. 

    According to Kinstellar, Lafarge Serbia, as part of the world’s leading cement manufacturer, is strengthening its presence in Central and Eastern Europe through this strategic expansion.

    The Kinstellar team included Managing Partner Milos Velimirovic, Managing Associates Mina Sreckovic and Mario Kijanovic, and Associates Djordje Ilijasevic, Jelisaveta Folic, and Vuk Vuckovic.

    Kinstellar did not respond to our inquiry on the matter.

  • PotamitisVekris Advises Sani/Ikos Resorts Group on EUR 230 Million Financing

    PotamitisVekris has advised Sani/Ikos Resorts Group on securing EUR 230 million in financing.

    Sani/Ikos Resorts Group is an owner and operator of luxury resorts in Mediterranean beachfront locations.

    The financing was subscribed by a syndicate of Greek banks, supporting the group’s strategic growth and expansion plans.

    The PotamitisVekris team included Managing Partner George Bersis and Associates Nikos Stefas, Katerina Pappa, and Kassiani Flaouna.

    PotamitisVekris did not respond to our inquiry on the matter.

  • TGS Baltic Advises on Synchronization of Baltic States’ Electricity Grids with Continental Europe

    TGS Baltic has advised the Ministry of Energy of the Republic of Lithuania, the Lithuanian electricity transmission system operator Litgrid, and the state-owned energy storage system operator Energy Cells on the synchronization of the Baltic States’ electricity grids with continental Europe.

    According to TGS Baltic, the project, which significantly enhances Lithuania’s energy security and that of the entire region, involved addressing complex legal and regulatory matters in coordination with the European Commission. In addition to the grid synchronization, TGS Baltic advised on the development of four electricity storage facilities with a combined capacity of 200 megawatts.

    The TGS Baltic team included Managing Partner Vilius Bernatonis, Partner Paulius Zapolskis, Senior Associate Augustinas Razumas, Associate Auguste Linauskaite, and Attorney at Law Pavel Jacunskij.

  • Rymarz Zdort Maruta Advises Volta Polska on Financing of Three PV Installations

    Rymarz Zdort Maruta has advised Volta Polska on a project involving three photovoltaic installations in Poland with a combined capacity of approximately 17 megawatts, including the financing and the securing of a long-term power purchase agreement.

    Volta Polska is an independent renewable energy producer.

    Earlier in 2025, Rymarz Zdort Maruta advised on mBank’s financing of Volta PV plants (as reported by CEE Legal Matters on January 14, 2025).

    The Rymarz Zdort Maruta team included Partners Jacek Zawadzki, Jakub Rachwol, and Marek Durski, Counsel Lukasz Lech, Senior Associates Adrian Augustyniak and Adrian Wieslaw, and Associates Engjell Sokoli and Lidia Niebieszczanska.