Category: Poland

DZP has successfully represented LOT Polish Airlines before the Court of Justice of the European Union against Ryanair.

According to DZP, the Court dismissed an action brought by Ryanair which challenged the legality of State aid granted to LOT Polish Airlines by the Republic of Poland during the COVID-19 pandemic.

Moreover, the firm reports that in December 2020, the European Commission approved a State aid package totaling PLN 2.9 billion for LOT Polish Airlines, including a preferential loan of PLN 1.8 billion from the Polish Development Fund and a capital injection of EUR 250 million. In July 2021, Ryanair DAC and Ryanair Sun sought annulment of this decision before the General Court of the EU, arguing that the Commission had not properly analyzed the support’s nature and proportionality. However, the Court dismissed the action in its entirety, affirming that the Commission’s decision complied with EU law.

The DZP team included Partners Marcin Krakowiak and Anna Glapa, Counsel Tomasz Zielenkiewicz, and Senior Associate Aneta Wloszek.

WKB Wiercinski Kwiecinski Baehr has advised European Energy on its sale of a wind farm portfolio to Enea Nowa Energia in a transaction valued at PLN 914.8 million. NGL Legal reportedly advised Enea Nowa Energia.

European Energy is a Danish renewable energy company that develops, finances, builds, and operates wind and solar farms.

Enea Nowa Energia, a subsidiary of the Polish energy group Enea, is responsible for investments in renewable energy sources and plays a role in expanding the group’s RES portfolio.

According to WKB, European Energy and Enea Nowa Energia concluded preliminary share purchase agreements for the sale of companies owning six operating wind farms with a total installed capacity of 83.5 megawatts, and an option to purchase a photovoltaic farm project with a capacity of 25 megawatts.

The WKB team included Partners Grzegorz Godlewski and Krzysztof Sikorski, Managing Associates Malgorzata Studniarek and Mateusz Krajewski, Associate Maciej Ziemann, and Junior Associate Karol Muszynski.

Schoenherr has advised mBank on financing to Unity Care and Salus in cooperation with Enterprise Investors for the consolidation and modernization of outpatient healthcare facilities in Poland. Greenberg Traurig advised Enterprise Investors.

According to Schoenherr, Unity Care and Salus focus on delivering outpatient medical care, ensuring better access to essential healthcare services for patients in smaller communities. 

The Schoenherr team included Partner Ilona Fedurek and Senior Attorney Piotr Bartos.

The Greenberg Traurig team included Counsels Pawel Dlugoborski and Justyna Jamrozy and Junior Associate Weronika Lakoma.

Norton Rose Fulbright has advised Panattoni president and co-owner Robert Dobrzycki on its acquisition of a majority stake in Widzew Lodz football club from Tomasz Stamirowski.

Panattoni is a real estate development firm operating in Europe, India, and Saudi Arabia.

Founded in 1910 and based in Lodz, Widzew Lodz won four Polish championship titles and also had a Polish Cup victory in 1985. The club has also made its mark in Europe, reaching the semi-finals of the European Cup in 1983 and participating in the UEFA Champions League group stage in 1996.

The Norton Rose team in Warsaw included Partner Magdalena Zienkiewicz, Counsel Krzysztof Jasinski, Senior Associate Katarzyna Berestecka, and Associates Magdalena Olechniewicz and Wojciech Jaskulak.

Allen Overy Shearman Sterling has advised Bank Gospodarstwa Krajowego on the issuance of EUR 2.25 billion dual-tranche fixed-rate guaranteed notes with Citi, Commerzbank, ING, J.P. Morgan, and Societe Generale serving as joint lead managers.

According to A&O Shearman, the issuance comprises EUR 1.25 billion 3.25% notes due 2030 and EUR 1 billion 4.25% notes due 2037, both guaranteed by the State Treasury of the Republic of Poland. The proceeds from this issuance will finance the Aid Fund and the National Road Fund. The notes are listed on the regulated market of the Luxembourg Stock Exchange.

The A&O Shearman team included Warsaw-based Managing Partner Arkadiusz Pedzich and Counsel Lukasz Walczyna.

A&O Shearman did not respond to our inquiry on the matter.

Quadra Underwriting, established in 2022 by former Aviva Investors Compliance Expert Rafal Sobolewski (as reported by CEE  In House Matters on September 22, 2022), has expanded its operations with support from Aviva.

Quadra Underwriting is a Polish company operating as an insurance agent specializing in transactional products. According to the company, “supported by the strength and capacity of Aviva plc, one of the UK’s leading insurance providers, Quadra is poised to redefine how real-estate title insurance solutions are delivered to clients across the continent. ”

“This is an exciting chapter for Quadra,” commented CEO Rafal Sobolewski. “With Aviva’s support and capacity backing, we are uniquely positioned to become a market leader across Europe. Our focus is on delivering flexible, forward-thinking insurance solutions that empower businesses to succeed with confidence in an unpredictable world.”  

“Aviva is delighted to supplement its support of Quadra Underwriting, its representative agent in Poland, to deliver commercial real-estate insurance products throughout the EEA,” added Legal Indemnities Technical Underwriting Manager for Global, Corporate & Specialty at Aviva, Stephen Hadfield. “The collaboration with the expert team at Quadra presents an exciting opportunity for Aviva to reach new markets, and offers a desirable alternative for lenders, investors, and developers seeking comprehensive, ‘clean exit’ cover from a highly regarded, internationally recognized insurer.”  

Gessel has advised Senetic Holding’s majority shareholder FMB Family Foundation on its acquisition of a minority stake in Euvic IT from Euvic SA.

Senetic Group provides IT solutions for companies and public institutions, specializing in Microsoft cloud services such as Office 365, Azure, and SharePoint, and is also a supplier of network and server equipment, software, and IT hardware for SMEs.

Euvic IT operates in the IT outsourcing sector and is part of Euvic SA, a federation of IT companies in Central Europe.

The Gessel team included Partner Karol Sokol, Managing Associate Michal Osowski, Senior Associate Damian Bednarczyk, and Junior Associate Zuzanna Sojka.

Rymarz Zdort Maruta has advised the XXXLutz furniture retail chain on its acquisition of the Polish furniture group Black Red White. 

The transaction remains contingent on regulatory approval.

According to Rymarz Zdort Maruta, XXXLutz Group initially invested in BRW in 2022 by acquiring 50% of its shares, and this recent transaction enabled the group to acquire the remaining 50%, thereby gaining full control of BRW. 

The Rymarz Zdort Maruta team included Managing Partner Magdalena Pyzik-Walag, Counsel Pawel Mazur, Senior Associate Maciej Wisniewski, and Associates Joanna Ksepko and Sebastian Stepinski.

Rymarz Zdort Maruta did not respond to our inquiry on the matter.

White & Case has advised a banking syndicate on CCC’s offer of new series N ordinary bearer shares through an accelerated book-building process valued at over PLN 1.55 billion. Greenberg Traurig advised CCC.

The consortium of banks included Powszechna Kasa Oszczednosci Bank Polski, Trigon Dom Maklerski, Bank Handlowy w Warszawie, Citigroup Global Markets Europe, Bank Polska Kasa Opieki, Pekao Investment Banking, BNP Paribas, mBank, Santander Bank Polska, Banco Santander, and Wood & Company Financial Services.

According to White & Case, the transaction, structured as a private subscription, involved the issuance of 8,157,894 series N shares at an issue price of PLN 190 per share. The offering attracted both Polish and foreign investors, with shares allocated exclusively to selected qualified investors and those acquiring securities with a total value of at least EUR 100,000 in Poland, as well as under certain exemptions from the prospectus requirement and outside the US under Regulation S of the US Securities Act of 1933, as amended.

Moreover, White & Case reports that CCC plans to use the funds raised from the share issue to finance the cash portion of the buyout of Modivo’s minority shareholders (as reported by CEE Legal Matters on February 24, 2025).

The White & Case team in Warsaw included Partner Marcin Studniarek, Local Partner Monika Duzynska, and Associate Dawid Ksiazek.

The Greenberg Traurig team included Partner Rafal Sienski, Senior Associate Grzegorz Socha, and Associates Kamil Nagawski and Szymon Swierszcz.

GFKK Grzybczyk Kaminski Gawlik Radcy has advised Weglokoks Kraj on developing a “white transformation” model for the Bobrek Mine in Bytom, Poland, marking a shift away from hard coal mining.

According to GFKK, in accordance with the 2021 Social Agreement between mining companies, trade unions, and the government, the project aims to repurpose the mine’s assets for new activities unrelated to coal processing. Planned initiatives include constructing energy storage facilities, producing heat using groundwater, and developing transmission and transport infrastructure on the mine’s surface.

The GFKK team included Partners Beata Kozak-Matusiak and Michal Grzybczyk.

GFKK did not respond to our inquiry on the matter.