CEE Legal Matters

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  • Greenberg Traurig, White & Case, and Baker McKenzie Advise on Diagnostyka’s PLN 1.7 Billion IPO

    Greenberg Traurig has advised Diagnostyka on its initial public offering and admission to trading on the regulated market of the Warsaw Stock Exchange. White & Case advised the underwriters. Baker McKenzie advised Diagnostyka’s majority shareholder Mid Europa.

    Citigroup Global Markets Limited, Bank Handlowy w Warszawie – Biuro Maklerskie Banku Handlowego, Jefferies, Santander Bank Polska – Santander Biuro Maklerskie, and Banco Santander were the joint global coordinators and joint bookrunners. Trigon Dom Maklerski, Wood & Company Financial Services, Spolka Akcyjna, Oddzial w Polsce, Pekao Investment Banking, and Bank Polska Kasa Opieki – Biuro Maklerskie Pekao were the joint bookrunners.

    According to Greenberg Traurig, the IPO raised nearly PLN 1.7 billion and implies a total market capitalization of over PLN 3.5 billion for the company. According to White & Case, “the IPO share price was set at the maximum price of PLN 105 per share, with a final offering of 16,147,124 shares, representing 47.83% of Diagnostyka’s share capital. The offering consisted solely of existing shares sold by LX Beta, an entity controlled by MidEuropa III Management Limited, Diagnostyka’s majority shareholder, which belongs to MidEuropa, a leading private equity investor in Central Europe.”

    Diagnostyka Group provides laboratory testing and diagnostics services through a network of more than 1,100 collection points, 156 diagnostic labs, and 19 diagnostic imaging centers across Poland. Having operated in the market for 27 years, the group serves over 20 million patients annually.

    The Greenberg Traurig team in Warsaw included Senior Partner Lejb Fogelman, Partners Pawel Piotrowski and Rafal Sienski, Counsel Agnieszka Stopinska, Senior Associate Grzegorz Socha, and Associate Kamil Nagawski as well as further team members in London.

    The White & Case team in Warsaw included Partners Marcin Studniarek and Rafal Kaminski, Local Partner Monika Duzynska, and Associates Adam Marszalek, Dawid Ksiazek, and Klaudia Pacocha as well as further team members in London.

    The Baker McKenzie team in Warsaw included Partner Filip Uzieblo, Counsels Marcin Plonka and Michal Maj, Senior Associate Monika Michalowska, Associates  Krzysztof Regucki and Marcin Pommersbach, and Junior Associates Jakub Demus and Julia Gorczyca as well as additional lawyers in London.

  • Lexist Advises Birlesim Grup Enerji on TRY 1.4 Billion IPO

    Lexist has advised Birlesim Grup Enerji on its initial public offering on Borsa Istanbul, which raised approximately TRY 1.4 billion.

    The company specializes in renewable energy and generates clean and green energy through solar and wind power plants.

    According to the firm, 188,452 investors subscribed to BIGEN’s shares.

    The Lexist team included Partners Murat Erbilen and Mesut Kaya, Senior Associate Sevde Nur Paksoy, and Associate Fethiye Nur Genc.

  • Mona Holzgruber Promoted to Partner at Binder Groesswang

    Binder Groesswang has promoted Mona Holzgruber to Partner.

    Holzgruber has been with Binder Groesswang since 2015 when she joined as an Associate. She became an Attorney at Law in 2020. In 2019, she was on secondment with Lee & Ko as a Foreign Associate.

    “The privilege of building strong relationships with our clients and helping them navigate complex M&A transactions has been one of the most rewarding aspects of my journey,” commented Holzgruber. “Their trust and collaboration have been key to my growth, and I’m excited to continue working closely with them as we tackle new challenges and strive for even greater success together.”

  • New Management Team at Filip & Company

    Filip & Company has elected its new management team which will be led by Co-Managing Partners Cristina Filip and Alexandru Birsan for a period of four years.

    According to Filip & Company, the executive team will be made up of Partners Ioan Dumitrascu and Catalin Suliman who will lead the Commercial team, Partners Catalin Alexandru and George Trantea who will lead Dispute Resolution, Partner Ioana Roman who will be the Manager of Real Estate and Projects, Partner Alexandra Manciulea who will be the Manager of Banking and Financial Services, and Partner Alina Stancu Birsan who will be the Manager of Corporate, M&A, and Capital Markets.

    According to the firm, “the election result confirms the firm’s goal of increasing management capacity and delivering its long-term development strategy. With the new management structure, Filip & Company is even better positioned to address the needs of evolution and adaptability to a dynamic and competitive market.“

    “In a climate of high uncertainty and rapidly changing circumstances, we want to remain a trusted and long-distance partner for our clients, as well as a source of empowerment and genuine and available support for our team members,” said Co-Managing Partner Cristina Filip. “The collaborative coordination model we are adopting for the next term will enable us to better adapt and deliver solutions that reflect a deep and balanced understanding of the needs and priorities of our clients, colleagues, and profession. Having Alex join me in leadership duties and working together with a strong and consolidated executive team is a confirmation of our commitment to building, with each generation, the best version of our firm.”

    “We have a lot to do in continuing our tradition of constantly reinventing ourselves,” added Co-Managing Partner Alexandru Birsan. “I am joining Cristina with enthusiasm and perhaps too many ideas for the packed schedule of busy lawyers like we are and will continue to be on the firm’s management team. But we have energy, we have confidence, perseverance, and courage and we are inspired by our ambition to have a firm where every person has the best trajectory and is able to realize their full potential. This has always helped us to best support our clients and get to the top of the legal market, so I think the best thing we can do is to accelerate.”

  • Havel & Partners Advises AIT Group on Establishing Joint Venture with Egile Corporation in Spain

    Havel & Partners, working with Gomez-Acebo & Pombo, has advised the Czech Republic-based industrial group Advanced Industrial Technology Group on establishing a joint venture with the Spanish shareholders of Egile Corporation. Euskaltax reportedly advised the Egile Corporation.

    The AIT Group specializes in investing in industrial technologies.

    Egile Corporation, headquartered in the Basque region, develops and produces predominantly aerospace components.

    The Havel & Partners team included Partner Jan Koval, Managing Associate Ivo Skolil, and Associate Jiri Moravec.

  • CMS and WKB Advise on Alior Bank’s Headquarters Move to Varso Place

    CMS has advised HB Reavis on Alior Bank’s headquarters relocation to Varso Place in Warsaw. WKB advised Alior Bank.

    According to Varso Place developer HB Reavis, Alior Bank will lease 8,300 square meters in the complex as part of its drive to optimize operations and enhance employee working conditions.

    The CMS team included Partner Agata Jurek-Zbrojska, Senior Associate Aleksander Grabecki, and Associate Maciej Liberacki.

    The WKB team included Partner Anna Wyrzykowska, Partner Bartosz Laski, and Associate Marta Palyga.

  • Allen & Overy Shearman Sterling and Clifford Chance Advise on Slovenske Elektrarne’s EUR 3.6 Billion Refinancing

    Allen & Overy Shearman Sterling has advised on the approximately EUR 3.6 billion refinancing of Slovenske Elektrarne. Clifford Chance advised the UniCredit Bank-led banking club.

    Slovenske Elektrarne is Slovakia’s largest electricity producer. According to A&O Shearman, “the proceeds are to be primarily used for refinancing existing senior and subordinated loans, as well as for general corporate purposes, including working capital.”

    The A&O Shearman team included Partner Renatus Kollar, Counsels Matus Kudlak and Attila Csongrady, and Senior Associates Petra Dzubakova, Jan Deset, and Peter Redo.

    The Clifford Chance team included Managing Partner Milos Felgr, Counsel Dominik Vojta, Senior Associate Hana Cekalova, Senior Lawyer Stanislav Holec, and Associate Tomas Kubala.

  • Legal Profession Modernized: Key Amendment Approved

    Today, the Chamber of Deputies approved in the third reading an amendment to the Legal Profession Act. The amendment brings a number of significant changes to the practice of the legal profession in the Czech Republic.

     Robert Němec, the Chairman of the Czech Bar Association and also partner of PRK Partners, was instrumental in promoting this significant legislative change. His high level of professionalism, expert knowledge and perseverance contributed to the successful adoption of the key points of the amendment.

    The most significant changes include:

    • the enshrinement of the attorney-client privilege
    • the possibility to participate in the assembly remotely and to hold online elections to the Bar’s bodies
    • tightening of the rules for attorney escrows, including the introduction of a special escrow account
    • the establishment of a guarantee fund for the compensation of victims of crimes committed involving attorney escrows
    • the possibility of trainee attorneys to practice on a part-time basis

    This amendment is the result of long-term efforts of the Czech Bar Association and represents a significant step forward for the legal profession in the Czech Republic.

    By Sona Rampulova, Business Development Manager, PRK Partners

  • Remote Work – A Legal and Practical Analysis for Romania in 2025

    Remote work has transformed from an emergency measure during the pandemic into a mainstream practice, with profound implications for Romania’s employment landscape. However, the legal and practical challenges associated with remote work continue to evolve, requiring employers to stay agile and informed.

    Immediate Impacts

    • Productivity and Costs: Studies, including recent research from the US Bureau of Labor Statistics, indicate that remote work boosts productivity by reducing non-labor costs. However, these gains have not consistently translated into higher employee compensation, creating potential tensions.
    • Employee Expectations: Workers increasingly see remote work as a default optionrather than a privilege. Companies that fail to offer flexible arrangements risk losing talent, particularly in competitive industries such as IT and finance.

    Trends for 2025

    1. Stricter Legal Frameworks: Romanian labor inspections are likely to focus more on compliance with remote work regulations, including provisions for health and safety, equipment reimbursement, and working hours.
    2. Hybrid Models as the Norm: Companies will gravitate toward hybrid work models to strike a balance between flexibility and team collaboration.
    3. Customized Policies: Employers will need to tailor remote work policies to individual roles and employee needs, moving beyond one-size-fits-all solutions.
    4. Focus on Wellbeing: Organizations will increasingly integrate mental health and wellbeing initiatives into their remote work strategies, acknowledging the challenges of work-life balance and isolation.
    5. Tech Investments: To manage remote teams effectively, businesses will invest heavily in digital tools, from performance monitoring software to secure communication platforms.

    Strategic Advice for Employers

    Adopting remote work policies that are both flexible and structured is critical. Employers must balance operational efficiency with employee preferences, leveraging remote work as a competitive advantage. Periodic reviews of these policies, aligned with employee feedback and organizational goals, will be essential to sustain productivity and engagement.

    By Alex Teodorescu, Managing Partner, Teodorescu Partners

  • (Re)Shaping Belgrade

    Belgrade’s history is a testament to its resilience and adaptability. Over centuries, the city has been a crossroads of civilizations, with each era bringing new rulers, new ideas, and new architectural styles.

    From the medieval Serbian dynasties to the Ottoman Empire’s mosques and hammams, and from Austro-Hungarian neoclassical buildings to the brutalist structures of the socialist era, Belgrade has always absorbed the influences of its occupants. Even the scars of World War II and the subsequent socialist reconstruction contributed to its unique urban fabric. However, the reshaping of Belgrade today is unlike anything the city has experienced before. This time, the transformation is not driven by conquest or occupation, but by ambition, investment, and a vision for the future.

    The modern era of Belgrade’s reshaping began over a decade ago with the emergence of large-scale development projects. These marked the start of a trend that continues to redefine the cityscape. Among the most significant transformations is the redevelopment of neglected areas, including industrial zones, into vibrant urban spaces. Cities industrial heritage, old factories and mills, once the backbone of Belgrade’s economy, are being repurposed into vivid cultural hubs, office spaces, and residential complexes. This process reflects a global trend seen in cities worldwide, where old structures are either repurposed or replaced by modern developments.

    Belgrade’s transformation is taking two distinct paths. On one hand, historic industrial buildings are being reimagined, preserving their facades while introducing new purposes, such as office spaces or cultural venues. On the other hand, entirely new developments are springing up, characterized by modern high-rises and expansive residential and commercial complexes.

    One notable example of industrial transformation is the repurposing of former factories into mixed-use spaces. The ongoing redevelopment of a metal products factory is a prime example of this shift, transforming the site into a mixed-use complex. The trend is set to continue with the planned redevelopment of large industrial sites. These vast plots of land, once dedicated to heavy industry, are being rezoned for residential and commercial use, paving the way for their transition into modern urban developments.

    Belgrade is following in the footsteps of other major cities that have successfully blended preservation and innovation. In New York, for instance, old warehouses in Brooklyn have been converted into trendy lofts, and London, where the iconic Tate Modern stands as a shining example of industrial revitalization. Tate Modern one of the worlds most famous museums of contemporary art is housed in the former Bankside Power Station. However, Belgrade’s transformation faces unique challenges, as the balance between preserving its heritage and embracing modernization becomes increasingly delicate.

    In the coming years, the city is set to gain over a million square meters of new developments. This rapid growth will reshape Belgrade’s identity, leaving residents and visitors alike to witness how effectively its architects and planners navigate this transformative period. Will the new architecture harmonize wilt the old, or will it overshadow Belgrade’s historic charm?  As the stitches of this urban “surgery” take hold, time will reveal whether the city’s latest reinvention enhances its charm and vitality or introduces new complexities to its historic character.

    By Petar Mrdja, Associate, JPM Partners