CEE Legal Matters

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  • SSW Advises Eika Asset Management on Logistics Project with Panattoni in Sochaczew

    SSW Pragmatic Solutions has advised Eika Asset Management on an agreement with Panattoni for the planned development of a 28,000-square-meter logistics building in Sochaczew, Poland. Wolf Theiss reportedly advised Panattoni.

    In 2024, SSW advised on Eika Real Estate Fund’s acquisition of the .Big Business Centre in Krakow (as reported by CEE Legal Matters on August 29, 2024).

    The SSW team included Partners Andrzej Wloch, Anita Palukiewicz, and Robert Wodzynski, Senior Associates Karolina Ostrowska and Tomasz Pietrzyk, and Associates Maja Wardzynska and Michal Scibura.

  • Fort Legal Advises Idavang on Early Bond Redemption Financing

    Fort Legal has advised Idavang on a EUR 40 million loan from Swedbank for the early redemption of its EUR 75 million floating rate senior secured bonds, originally due in 2025.

    Denmark-based Idavang specializes in pork production.

    The Fort Legal team included Partner Mindaugas Zolynas, Associate Partner Aurelija Grigoraviciute-Rimeisiene, and Associate Vilte Vosilyte.

  • Sayenko Kharenko Advises Elementum Energy on Acquisition of Windpark West-R

    Sayenko Kharenko has advised Elementum Energy on the acquisition of a majority stake in Windpark West-R.

    Elementum Energy is an international investor in Ukraine’s renewable energy sector, with a portfolio of solar and wind power plants totaling 636 megawatts of installed capacity.

    Windpark West-R is a project company developing a 200-megawatt wind power plant in western Ukraine at the junction of the Ternopil, Rivne, and Lviv regions. According to Sayenko Kharenko, the project is being developed in cooperation with Maxima Development Group, which remains a minority shareholder.

    In 2022, Sayenko Kharenko advised Elementum Energy on its acquisition of a stake in the Lymanska wind project (as reported by CEE Legal Matters on January 31, 2022).

    The Sayenko Kharenko team included Partner Oleksandr Nikolaichyk, Counsels Mykhailo Grynyshyn and Tymur Enkhbaiar, Senior Associates Taras Bondarenko and Natalia Hutarevych, Associate Dmytro Zaiachkivskyi, and Junior Associates Victoria Chorna, Maksym Kysil, Ahil Aliev, and Vladyslav Novitskyi.

    Sayenko Kharenko could not provide additional information on the matter.

  • Motieka Elevates Mantas Juozaitis To Partner

    Former Counsel Mantas Juozaitis has been promoted to Partner at Motieka.

    Juozaitis, a tax law specialist, has been with the firm since 2009. Earlier, he spent six years in-house with Linas Agro between 2003 and 2009.

    “Mantas is a vital member of our team,” commented Partner Ramunas Audzevicius. “His expertise in tax law enhances and expands our ability to deliver top-tier services to our clients. I am confident that his partnership will serve as an additional motivation to further grow the firm and achieve our shared strategic goals. Mantas’ competence and leadership will not only strengthen our tax practice but also inspire his colleagues.”

  • Croatia Introduces Legislative Changes to Promote Gender Equality on Corporate Boards

    With the amendments to the Companies Act (the “Act”), which entered into force on 5 December 2024, Croatia has implemented EU Directive (EU) 2022/2381 on gender balance on corporate boards of listed companies (the “Directive”). The so called “Women on Boards” Directive aims to ensure that at least 40% of non-executive board seats or 33% of all board seats for listed companies are occupied by the “underrepresented sex” by the end of June 2026.

    What you need to know

    • Scope of application: The obligation of balanced representation of women and men applies to listed companies. Companies that employ less than 250 employees, have an annual revenue that does not exceed EUR 50 million or with a total assets value that does not exceed EUR 43 million, are exempt.
    • Thresholds: Different individual thresholds are set for listed companies with monistic and dualistic models of corporate governance, depending on the total number of relevant board seats:
      • Non-executive (single) criteria: supervisory board or board of directors (non-executive positions);
        or
      • All seats (joint) criteria: management board and supervisory board or board of directors (including executive positions).

    The obligation to achieve balanced representation primarily relates to the fulfilment of the single criteria. However, if the single criteria is not met, but the joint criteria is, the company would still be in compliance.

    • Procedure: The rules must ensure the application of clear, neutral and unambiguous criteria that prevent discrimination and allow for the selection of candidates based on objectively assessable qualifications.
    • Protection and sanctions: A non-elected candidate may initiate misdemeanour proceeding against a company. If a non-elected candidate proves that he/she is equally qualified as the candidate of the opposite sex who was selected, the burden of proof that the former was not unfairly disadvantaged transfers to the company. Additionally, monetary fines in the amount of EUR 10,000 may be triggered. Furthermore, under the general corporate rules, the shareholders’ decision during an election may be declared as null and void if it is passed contrary to the provisions of the Act.
    • Goals setting: The supervisory board or the board of directors should set goals for the participation of the underrepresented sex at least every two years.
    • Implementation period: The mandates of current members may be held until their regular expiration. Shareholders are required to elect members of the underrepresented gender at the first future election, in accordance with the Act.

    According to the latest available official data as of 2023, the existing representation of women as the underrepresented sex on corporate boards of listed companies in Croatia is 19% in management boards and 25% in supervisory boards. The recently introduced legislative requirements will enhance the diversity of corporate boards within listed companies. Moreover, these measures are expected to have a significant transformative influence on governance practices in non-listed companies as well.

    By Dora Gazi Kovacevic, Partner, and Ema Adrovic, Associate, Wolf Theiss

  • Rymarz Zdort Maruta Advises Mirbud on Acquisition of Transkol

    Rymarz Zdort Maruta has advised Mirbud on the acquisition of a 92.78% stake in Przedsiebiorstwo Budownictwa Specjalistycznego Transkol.

    The value of the transaction was PLN 77.5 million.

    Mirbud operates across multiple segments of the construction industry, focusing on industrial, logistics, retail, and residential projects. 

    Transkol specializes in the construction, modernization, and renovation of railway infrastructure.

    The Rymarz Zdort Maruta team included Partner Filip Lesniak, Senior Associate Diana Sofu, and Paralegal Bartosz Brudek. 

    Rymarz Zdort Maruta was unable to provide additional information on the matter.

  • Mamic Peric Reberski Rimac, BDK Advokati, Gorjup, Karanovic & Partners, and Gospic, Plazina, Stojs Advise on Bosqar Invest’s Acquisition of Mlinar Group Stake

    Mamic Peric Reberski Rimac, BDK Advokati, and Gorjup Law Office have advised Bosqar Invest on its acquisition of a 50.1% indirect stake in the Mlinar Group from MidEuropa Partners. Karanovic & Partners and Ilej & Partners in cooperation with Karanovic & Partners, working with Dechert, advised MidEuropa Partners. Gospic, Plazina, Stojs advised Mr. Skojo, the former owner of Mlinar and a current shareholder of SEE Bakery, the sole shareholder of Mlinar. Janezic & Jarkovic, and Van Campen Liem reportedly advised Bosqar as well. Gospic Plaznina Stojs reportedly also advised the sellers.

    According to BDK Advokati, Bosqar Invest acquired the stake as part of a wider EUR 100 million acquisition of a 67% stake in Mlinar Group that it participated in with partners. “MidEuropa Partners will reinvest its remaining stake and continue supporting the newly formed group in its expansion.”

    The Mamic Peric Reberski Rimac team included Partner Vladimir Mamic, Junior Partner Nikola Kokot, and Attorney at Law Erblina Morina.

    The BDK Advokati team included Senior Partner Vladimir Dasic and Associate Milan Popovic.

    The Gorjup team included Lawyer Jure Blazic.

    The Ilej & Partners team included Senior Partner Goran Ilej and Senior Associate Antun Skansi.

    The Karanovic & Partners team included Senior Partner Milos Jakovljevic and Senior Associate Sava Draca.

    The Gospic, Plazina, Stojs team included Partners Matea Gospic Plazina and Lana Stojs.

  • Greenberg Traurig Advises CA Immo on Saski Point Office Building Sale in Warsaw

    Greenberg Traurig has advised CA Immo on the sale of the Saski Point office building to an unidentified Polish investor.

    Headquartered in Vienna, CA Immo focuses on office buildings in Central European capitals, managing investment properties in Germany, Austria, and the CEE region.

    The Greenberg Traurig team included Deputy Managing Partner Radomil Charzynski, Senior Associate Filip Widuch, and Associates Bruno Jasic and Maciej Smaczynski.

    Greenberg Traurig could not provide additional information on the matter.

  • Lambadarios Advises Sony Music on Acquisition of Cobalt Music

    Lambadarios, working with Reed Smith, has advised Sony Music on its acquisition of Cobalt Music from its founder. CJA Entertainment Legal reportedly advised the sellers.

    Cobalt Music is a music publishing company in Greece.

    The Lambadarios team included Managing Partner Constantinos Lambadarios, Partners Chara Daouti and Melina Katsimi, Senior Associates Margarita Kontogeorgou and Natalia Kalatzi, and Associate Virginia Kyrlakitsi.

     

  • White & Case and Clifford Chance Advise on Wirtualna Polska’s PLN 1 Billion Acquisition of Invia Group

    White & Case has advised the Wirtualna Polska group on the acquisition of the Invia Group from European Bridge Travel for more than PLN 1 billion (EUR 239.7 million) with existing shareholders Rockaway Group and CITIC Europe Holdings acting as guarantors of European Bridge Travel’s obligations resulting from the sale. Clifford Chance advised European Bridge Travel and its shareholders.

    The transaction remains contingent on regulatory approval.

    The Invia Group operates package holiday booking platforms in Germany, Austria, Switzerland, the Czech Republic, Slovakia, and Hungary. In Poland, the Invia Group operates as Travelplanet.pl.

    The White & Case team included Warsaw-based Partner Rafal Kaminski, Local Partner Jakub Gubanski, Associates Damian Lubocki, Karolina Kalucka, Iwo Malobecki, and Dominika Czarniak, Prague-based Local Partners Jana Chwaszcz and Karel Petrzela, Counsel Vladimir Ivanco, and Associates Kamila Dankova, Barbora Smekalova, and Barbora Vaculova, as well as further team members in Berlin, Beijing, Frankfurt, Hamburg, and Shanghai.

    The Clifford Chance team included Partner Alex Cook, Counsels Michal Jasek and Iwona Terlecka, Senior Associate Tomas Prochazka, and Associates Matej Pavlik, Natalie Kurkova, and Marcin Waszynski.