Category: Poland

A&O Shearman has advised Farm Frites Poland on a PLN 98.6 million (EUR 18 million) financing from Credit Agricole Bank Polska, Bank Pekao, BNP Paribas, and PKO Bank Polski. Norton Rose Fulbright advised the banks.

Farm Frites Poland operates in the frozen potato products industry.

According to A&O Shearman, the financing included the rebalancing of existing facilities and a new lender’s accession to a banking consortium. “The funds are earmarked towards new investments in the development of production lines and covering current operations.”

The A&O Shearman team included Partner Anna Madra, Senior Associate Artur Rutkowski, Associate Bartosz Skalski, and Consultant Bartosz Jagodzinski.

The Norton Rose team included Partner Grzegorz Dyczkowski, Counsel Jacek Smardzewski, and Associate Patryk Gelar.

SSW Pragmatic Solutions has advised Eika Real Estate Fund on its acquisition of the .Big business center in Krakow. Greenberg Traurig advised the sellers.

Eika Real Estate Fund is an investment fund established in 2019 by Eika Asset Management, a Lithuanian investment management company. 

According to SSW, “the property occupies almost 11,000 square meters and is located in the western part of the city center.”

The SSW team included Partners Anita Palukiewicz, Piotr Grabarczyk, and Andrzej Wloch, Senior Managing Associates Joanna Perzyna and Michal Maslak, Senior Associates Karolina Ostrowska, Tomasz Pietrzyk, and Julia Wysocka, and Associates Maja Wardzynska, Karolina Potrawka, Weronika Mielnicka, and Krzysztof Jaron.

The Greenberg Tarurig team included Partner Agnieszka Stankiewicz, Local Partner Malgorzata Kercz, Senior Associate Samanta Wenda-Uszynska, and Associate Wiktor Waclawski.

Linklaters has advised StudentSpace on the acquisition of two land plots for the development of dormitories in Krakow.

StudentSpace is a student housing platform launched by Signal Capital Partners, Griffin Capital Partners, and Echo Investment. According to Linklaters, “the secured plots will be developed into dormitories designed to accommodate over 1,200 students, with construction scheduled for completion before the commencement of the 2025/2026 academic year. These are the first investments by StudentSpace, which aims to develop a portfolio of 5,000 beds across key academic cities in Poland over the next three to five years.”

The first location, on Wita Stwosza street in Krakow, will feature one dormitory, accommodating around 600 students. According to StudentSpace, the dormitory will be part of a larger development, which will include both office and residential spaces by Echo Investment and Archicom (as reported by CEE Real Estate Matters on August 26, 2024).

“We are thrilled to announce the acquisition of two prime plots for new PBSA projects in Krakow, only a few months after launching our platform,” said Signal Capital Partners Real Estate Investments Partner Colman McCarthy. “Strategically located, these new accommodations will offer students convenient access to their universities, greatly enhancing both their academic and living experiences. These investments underscore our commitment to advancing the PBSA market in Poland by developing projects of enhanced quality, strategically located in prime city areas to meet and exceed student expectations. StudentSpace is planning further expansion and additional investments – we have already secured two additional locations in Warsaw, but we are also exploring opportunities in other key academic cities.”

The Linklaters team included Managing Associates Tomasz Trystula and Marcin Nowak, Senior Associate Marta Strykowska, and Associate Joanna Roman.

Linklaters could not provide additional information on the matter.

MFW Fialek has advised Tutore International on Innova Capital’s investment in Tutore Poland. Deloitte Legal advised Innova Capital.

According to MFW Fialek, the transaction also included a buyout of minority shareholders in Langmedia sp. z o.o., the acquisition of a 70% stake in ESL Brains sp. z o.o., the acquisition of 100% of shares in International Language Institute sp. z o.o., and obtaining financing. Furthermore, according to the firm, as a result of the transaction, Innova Capital has become the majority shareholder in Tutore Poland, which owns an online education platform with hundreds of teachers and thousands of students. Tutore International, the existing owner of the company, will remain a minority shareholder following the transaction.

Recently, MFW Fialek advised Tutore Poland on its full acquisition of Langmedia from Ecapital and Pawel Kowalczyk (as reported by CEE Legal Matters on August 28, 2024). Earlier in 2024, MFW Fialek advised on Langmedia and Tutore Poland’s PLN 61.2 million financing from mBank (as reported by CEE Legal Matters on July 15, 2024) as well as on additional financing in January 2024 (as reported by CEE Legal Matters on January 12, 2024). In 2023, MFW Fialek advised on Tutore International Luxembourg’s takeover of Tutore Poland (as reported by CEE Legal Matters on October 12, 2023). In 2022, the firm advised on the initial sale of a minority stake in Music & More (as reported by CEE Legal Matters on January 21, 2022), Tutore Poland’s merger with ProfiLingua (as reported on September 14, 2022), as well as Tutore Poland’s acquisition of the initial 51% stake in LangMedia (as reported on September 20, 2022).

The MFW Fialek team included Partners Miroslaw Fialek and Rafal Siemieniec, Senior Associates Krzysztof Drzymala, Pawel Siwiec, Marcin Gutkowski, and Michal Kret, Associates Cezary Gizinski and Maksymilian Kulczycki, and Junior Associate Franciszek Furmaniak.

The Deloitte Legal team included Partners Tomasz Ciecwierz and Jakub Labuz, Managing Associates Krystian Kowalski and Mikolaj Chodkiewicz, and Senior Associate Blazej Badera.

CMS has advised Eika Asset Management on the development of a warehouse park near the Modlin Airport.

Eika Asset Management is the investment management company of Lithuania’s Eika Group.

According to CMS, “the development will include three phases, with the first phase offering a leasable area of approximately 38,000 square meters.”

The CMS included Partner Dominik Rafalko, Senior Associate Zuzanna Bafia, Associate Maciej Liberacki, Lawyers Aleksander Klys, Marta Trebacka, and Aleksandra Sadownik.

CMS did not respond to our inquiry on the matter.

Editor’s Note: After this article was published, SSW Pragmatic Solutions announced that it advised Waimea Holding on a development management agreement concerning the project. The firm’s team included Partner Robert Wodzynski and Senior Associate Joanna Berzynska-Garal.

Gessel has advised Olivia Fin on a prospectus-based public offering of bonds with a total value of over EUR 11 million facilitated by Noble Securities, Dom Maklerski BDM, and Michael/Stroem Dom Maklerski.

Olivia Fin is a real estate company.

According to Gessel, “Olivia Fin executed the first bond issue under the fourth bond issue program of up to PLN 150 million conducted on the basis of the base prospectus approved by the Polish Financial Supervision Authority on June 25, 2024. The initial series P2024B bonds’ public offering’s value was established at the level of EUR 10 million, however, due to the great interest from investors Olivia Fin exercised its over-allotment option and therefore the public offering of series P2024B bonds eventually ended up with a total value over EUR 11.6 million.”

The Gessel team included Partner Krzysztof Marczuk, Managing Associate Magdalena Szeplik, and Senior Associate Jakub Rowicki.

Gessel did not respond to our inquiry about the matter.

GPLF Gorski and Partners has advised Ghelamco and the Polish Yachting Association on a joint venture regarding the Nova Marina Gdynia project.

According to GPLF, Nova Marina Gdynia is a multipurpose five-floor building with a “yachting center that will be built near the Southern Pier (Molo Poludniowe), next to the marina, legendary sailing boat Dar Pomorza, and the Maritime University. The object with a surface of 20,000 square meters will be the house of Gdynia yacht clubs and the Polish Yachting Club.”

The GPLF Gorski team included Partner Maciej Gorski, Attorney at Law Krzysztof Mielech, and Advocate Marcin Wiercinski.

Soltysinski, Kawecki & Szlezak has advised Euricom on its acquisition of Sonko from Oshee Polska. BCGL advised Oshee Polska.

The transaction remains contingent on regulatory approval.

Euricom operates in the rice sector.

Sonko, established in 1989, operates in the healthy snacks market in Eastern Europe.

Oshee Polska is a functional sports drinks manufacturer in Poland.

According to SK&S, “Euricom aims to strengthen Sonko’s snack portfolio by investing in its infrastructure and brand identity, and expand its existing production capabilities in Italy.”

The SK&S team included Senior Partner Robert Gawalkiewicz, Partner Krzysztof Kanton, Senior Counsels Jakub Wozniak and  Witold Kurek, Senior Associates Michal Dawidowicz, Andrzej Sikorski, and Szymon Murek, and Associates Wiktor Markiewicz, Aleksandra Krzesniak-Salajczyk, Adrianna Nowinska, Ewelina Woike-Regula, Julia Balkowiec-Iskra, and Maja Gorawska.

The BCGL team included Partner Jacek Balicki and Senior Associates Michal Wilinski and Monika Druzkowska.

Brzozowska & Barwinska has advised Bank Pekao on investment financing granted to a company belonging to Satoria Group including for the implementation of a residential project in Warsaw.

The Brzozowska & Barwinska team included Managing Partner Magdalena Brzozowska-Wozniak and Senior Associate Karolina Ploska. 

Brzozowska & Barwinska did not respond to our inquiry about the matter.

Norton Rose Fulbright has advised Lords LB Asset Management-managed fund Tewox on the acquisition of two retail parks located in Radom and Lodz.

Tewox, set up in 2021, invests in grocery-anchored retail real estate in the Baltic States, Finland, Sweden, Denmark, Poland, and Germany.

Lords LB Asset Management is a provider of investment management services to institutional clients and high-net-worth individuals.

According to Norton Rose, “this transaction marks Tewox’s third venture into the Polish market, expanding its total holdings to eight retail parks with a combined retail space of 55,700 square meters. The newly acquired retail parks in Lodz and Radom cover nearly 10,000 square meters and accommodate approximately 30 tenants, with significant space occupied by Lidl and Jeronimo Martins, operator of the grocery chain Biedronka.”

In 2023, Norton Rose Fulbright advised on Bank Pekao’s acquisition financing for the Tewox retail park portfolio (as reported by CEE Legal Matters on August 14, 2023).

The Norton Rose Fulbright team included Partner Magdalena Zienkiewicz, Counsel Jan Wszolek, and Associate Karol Truszkowski. 

Norton Rose did not respond to our inquiry on the matter.