CEE Legal Matters

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  • Zepos & Yannopoulos Advises Intertrade Hellas on EUR 23 Million Financing

    Zepos & Yannopoulos has advised Intertrade Hellas on a EUR 23 million financing to support its EUR 150 million investment plan.

    Intertrade Hellas is a Greek paper goods manufacturer producing the Softex and Servin brands. According to Zepos & Yannopoulos, the funding package includes resources from the Greece 2.0 National Recovery and Resilience Plan, classifying the transaction under the RRF’s “Green Transition” and “Extroversion” pillars. As part of the initiative, Intertrade’s investment encompasses the installation of a new paper mill at the company’s industrial site in the Voiotia region, along with a photovoltaic system. 

    The Zepos & Yannopoulos team included Partner Stathis Orfanoudakis and Associate Rania Koliouli.

    Zepos & Yannopoulos did not respond to our inquiry on the matter.

  • Cobalt Advises SmartCap on EUR 100 Million Defense Fund Launch

    Cobalt has advised SmartCap on launching a EUR 100 million Defense Fund.

    SmartCap, established in 2011, is a small fund manager dedicated to developing Estonia’s venture capital market.

    According to Cobalt, the fund is “aimed at advancing Estonia’s defense industry and developing innovative defense and security capabilities to meet the growing global demand. The Defense Fund contributes to Estonia’s economic growth by improving access to local capital for defense sector companies. It invests in funds managed by both new and experienced fund managers.”

    In 2023, Cobalt advised SmartCap on its eAgronom investment (as reported by CEE Legal Matters on July 3, 2023). In 2022, Cobalt also advised SmartCap on the launch of its green technology investment program (as reported by CEE Legal Matters on November 21, 2022).

    The Cobalt team included Partner Kristel Raidla-Talur, Managing Associate Greete-Kristiine Kuru, and Specialist Counsel Mart Blondal.

  • Kinstellar Advises BHM Group on Acquisition of Prague Port Group

    Kinstellar has advised the BHM Group on the acquisition of a majority stake in Prague Port Group from HD&PB. Glatzova & Co reportedly advised the sellers.

    BHM Group is a European investment firm.

    According to Kinstellar, the transaction strengthened BHM Group’s position in the market and facilitated the consolidation of the ownership structure of this key company operating aparthotels and hotels in central Prague.

    In 2023, Kinstellar advised on BHM Group’s acquisition of the Trencin Industrial Park (as reported by CEE Legal Matters on October 24, 2023).

    The Kinstellar team included Managing Partner Jan Juroska, Managing Associates Matej Vecera and Vaclav Kment, and Junior Associates Dominik Ctvrtnicek, Lucie Kunclova, and Zuzana Konecna.

  • Brandl Talos Advises Highland Europe on Investment in SmaXtec

    Brandl Talos has advised Highland Europe on its investment in SmaXtec as part of a round led by KKR. Dechert’s Munich-based office advised the shareholders of SmaXtec. Gibson Dunn and Wolf Theiss reportedly advised KKR. 

    SmaXtec is an agri-tech company focusing on enhanced efficiency and animal health in dairy farming. 

    The Brandl Talos team included Partners Roman Rericha and Adrian Zuschmann.

  • Fazilet Karabacaklar and Sezen Yilmaz Make Partner at Egemenoglu

    Egemenoglu has promoted Fazilet Karabacaklar and Sezen Yilmaz Promoted to Partners.

    Karabacaklar specializes in labor law, social security law, and occupational health and safety law. She has been with the firm since 2005.

    Yilmaz’s primary area of focus is corporate law. She has been with Egemenogly as Attorney at Law between 2018 and 2019 and as a Senior Associate between 2024 and 2025. Additionally, she worked as a sole practitioner between 2016 and 2017 and 2019 and 2024. Earlier, she was an Attorney at Law with Koksal & Partners.

  • TGS Baltic Advises City of Tallinn on Merger of Multiple Healthcare Providers into Single Tallinn Hospital

    TGS Baltic has advised the City of Tallinn on the merger of multiple city hospitals, including East Tallinn Central Hospital, West Tallinn Central Hospital, Tallinn Children’s Hospital, and Tallinn Ambulance Service, into a unified Tallinn Hospital.

    According to TGS Baltic, this consolidated “super-hospital” will serve as a model for future large-scale merges in Estonia and beyond, marking a significant change in how major healthcare institutions can be integrated.

    The TGS Baltic team included Managing Partner Sander Karson, Partners Helmut Pikmets and Triin Kaurov, Associate Partners Indrek Ergma and Triinu Jarviste, Counsel Maris Vutt, Senior Associates Ingeri Luik-Tamme and Sergei Jegorov, and Associates Aleksander Pajuri and Britte Koppel.

  • White & Case Advises Joint Bookrunners on PKO Bank Polski’s EUR 750 Million Senior Preferred Notes Issuance

    White & Case has advised joint bookrunners Citigroup Global Markets Europe, Danske Bank, PKO Bank Polski, Societe Generale, UBS Europe, and UniCredit Bank on PKO Bank Polski’s EUR 750 million 3.375% senior preferred notes issuance due 2028. Allen & Overy Shearman Sterling reportedly advised PKO Bank Polski on the issuance.

    According to White & Case, the issuance is under PKO Bank Polski’s EUR 4 billion euro medium-term note program. The notes are listed on the Luxembourg Stock Exchange and will additionally trade on the Warsaw Stock Exchange.

    In 2024, White & Case advised PKO Bank Polski on PLN 1.5 billion subordinated capital bonds issuance (as reported by CEE Legal Matters on October 31, 2024), on PKO Bank Hipoteczny’s PLN 500 million issuance of mortgage-covered bonds due October 24, 2028 (as reported by CEE Legal Matters on October 30, 2024), on PKO Bank Polski’s EUR 750 million green notes issuance (as reported by CEE Legal Matters on September 24, 2024), on its PLN 500 million mortgage-covered bonds issuance (as reported by CEE Legal Matters on July 18, 2024), on its PLN 1 billion issuance of mortgage-covered bonds (as reported by CEE Legal Matters on April 5, 2024), on its EUR 500 million notes issuance (as reported by CEE Legal Matters on June 27, 2024), and its earlier EUR 500 million issuance (as reported by CEE Legal Matters on April 10, 2024). The firm also advised PKO Bank Hipoteczny on all three of its 2023 issuances of PLN-denominated covered bonds under its International Covered Bond Program (as previously reported by CEE Legal Matters on November 8, 2023, July 4, 2023, and February 15, 2023).

    The White & Case team included Warsaw-based Partner Marcin Studniarek, Local Partner Bartosz Smardzewski, and Associate Michal Truszczynski as well as London-based Partner Stuart Matty and Counsel James Clarke.

    Editor’s Note:  After this article was published, A&O Shearman confirmed its participation on behalf of PKO Bank Polski. The firm’s team included Partner Arkadiusz Pedzich, Counsel Lukasz Walczyna, and Associate Filip Glowka.

  • KDK Advises Arkel on Sale to Innovalift

    Kolcuoglu Demirkan Kocakli has advised Arkel and its shareholders including Mediterra Capital on the sale of Arkel to Innovalift.

    Arkel is a manufacturer of elevator control systems and components.

    Mediterra Capital is a Turkish private equity firm.

    Innovalift is a wholly-owned subsidiary of Investment AB Latour.

    In 2017, Kolcuoglu Demirkan Kocakli advised the EBRD and Mediterra on the acquisition of a majority stake in Arkel (as reported by CEE Legal Matters on January 9, 2017).

    Kolcuoglu Demirkan Kocakli did not respond to our inquiry on the matter.

  • Glatzova & Co Advises Rouvy on FulGaz Acquisition and Ironman Group Partnership

    Glatzova & Co has advised Rouvy on its acquisition of FulGaz and on establishing a partnership with Ironman Group.

    Rouvy is a Czech Republic-based virtual cycling platform.

    FulGaz is an Australian virtual cycling platform.

    The Ironman Group is an operator of mass participation sports.

    According to Glatzova & Co, the move “expands Rouvy’s market share in the virtual cycling space, positioning it more competitively against leading players such as Zwift.”

    The Glatzova & Co team included Partner Jiri Sixta and Senior Associate Jindrich Pastrnak.

    Glatzova & Co could not provide additional information on the deal.

  • Avellum Secures Unconditional Merger Clearance for Ukrnafta-Shell Transaction

    Avellum has advised Ukrnafta on obtaining approval from the Antimonopoly Committee of Ukraine for the acquisition of Shell’s Ukrainian business – a network of petrol stations.

    Ukrnafta is a Ukrainian oil producer.

    Shell is an energy company known for its extensive network of petrol stations. It operates over 47,000 stations in more than 80 countries, serving more than 33 million retail customers daily. According to Avellum, in Ukraine, Shell operates a network of 118 active petrol stations, ranking among the top 10 networks by sales volume.

    “The Supervisory Board of Ukrnafta approved the [transaction], as the acquisition of the business, managed for 15 years by a reputable international group, will provide Ukrnafta with an opportunity to expand its petrol station network and market share, which corresponds to the company’s development strategy,” stated Ukrnafta CEO Serhii Koretskyi.

    The Avellum team included Partner Mykyta Nota, Counsel Anton Arkhypov, and Associates Veronika Humeniuk and Yuliia Bulenok.