Category: Poland

Norton Rose Fulbright has advised BNP Paribas Bank Polska on its financing for the construction of a 32.7-megawatt photovoltaic projects portfolio sponsored by R.Power. Deloitte Legal reportedly advised R.Power.

R.Power operates in the European market of large-scale solar energy and is an independent solar energy producer in Poland.

The Norton Rose team included Partners Grzegorz Dyczkowski and Tomasz Rogalski, Counsel Marta Kawecka, Senior Associate Cezary Zawislak, Associates Przemyslaw Piasecki and Patryk Gelar, and Lawyers Wiktoria Jadczak and Bartosz Odziemkowski.

MFW Fialek has advised Arka Gdynia’s majority shareholder Michal Kolakowski on the sale of a 75% stake in the company following the settlement of a dispute over the title to the sold shares with the club’s previous majority shareholder.

According to the firm, Arka Gdynia is a Polish football club with a rich history and traditions, which currently plays in the country’s First League.

The MFW Fialek team included Partner Miroslaw Fialek, Associate Partner Rafal Siemieniec, Associate Mateusz Wieckowski, and Junior Associate Natalia Grzegorzewska.

The firm did not respond to our inquiry on the matter.

CK Legal Chabasiewicz Kowalska has advised Kruk on its third Euro-denominated bond offering addressed to retail investors, with a 56.19% subscription reduction.

According to CK Legal, “the bond offer, designated as series AO5EUR, was executed under the Prospectus of the X Bond Issuance Program. The prospectus enables Kruk to issue bonds up to a total nominal value of PLN 700 million until July 2024.” Additionally, “on the day of the allocation of AO5EUR series bonds, Kruk decided on another issuance of bonds, the AO6EUR series, with a total nominal value of up to EUR 14 million.”

Back in 2023, CK Legal advised Kruk on its AO3EUR and A04EUR euro-denominated retail bond offerings (as reported by CEE Legal Matters on December 20, 2023).

The CK legal team included Founding Partner Wojciech Chabasiewicz and Head of Capital Markets Anita Gwozdz.

Editor’s Note: After this article was published, CK Legal informed CEE Legal Matters that it had also advised Kruk on the AO6EUR EUR 14 million issuance.

Dentons has advised PKO Bank Polski and the EBRD on providing debt financing for the construction of the 31.5-megawatt Grabkowo wind farm in Potegowo and operational support for the 37.5-megawatt Orla wind farm, both of which are operated by Eurowatt. Clifford Chance advised Eurowatt.

According to Dentons, “the transaction involved extending the EBRD’s financial package to PLN 126.1 million (equivalent to EUR 29 million) and complementing it with a parallel loan from PKO Bank Polski. Both wind farms are operated by subsidiaries of the Eurowatt Green Energy Group, an international renewable energy producer with nearly 30 years of experience.”

The Dentons team included Partners Tomasz Zwolinski, Piotr Nerwinski, Christian Schnell, and Marceli Kasperkiewicz, Counsel Pawel Dlugoborski, and Associates Mateusz Ciechomski, Jakub Olejniczak, Ewa Golabek, and Justyna Obniska.

The Clifford Chance team included Partners Andrzej Stosio and Pawel Puacz, Counsels Mateusz Chrusciak and Tomasz Szymura, Senior Associates Maksymilian Jarzabek, Wojciech Wator, Pawel Zawislak, and Marcin Markowski, and Associates Aleksandra Bialyszewska, Mateusz Leleno, Artur Gladysz, and Weronika Patzer.

Taylor Wessing has advised Avestus Real Estate on a EUR 24 million refinancing from mBank for the Imagine office complex in Lodz. Kycia Legal advised mBank.

Avestus Real Estate is an advisor, developer, and investor with more than 25 years of experience in the real estate markets of Central and Eastern Europe.

According to Taylor Wessing, “the Imagine complex in Lodz includes two office buildings and a multi-level car park. The complex offers 14,800 square meters of Class A office space and about 2,400 square meters of retail and service space.”

The Taylor Wessing team was led by Counsel Michal Kulig.

The Kycia Legal team included Partners Anna Kycia and Grzegorz Kycia, Senior Associate Agata Kilarska-Jasinska, and Junior Associate Karol Muszynski.

JDP Drapala & Partners has advised Best Secret Poland on four sale-and-leaseback agreements with Deutsche Leasing Polska for the use of the storage and sorting systems in BSP’s Sulechow high-bay warehouse.

“The high-tech systems create a multi-tier logistics center allowing for maximum utilization of warehouse space and increased operational efficiency,” JDP announced. “The total value of the agreements renders this transaction one of the largest in the history of Deutsche Leasing’s operations in Poland.”

Deutsche Leasing Polska is a financing partner for manufacturers and their clients as well as corporate investors in Poland. It specializes in construction machinery, industrial equipment, printing and media technology, material transport and reloading technology, and agricultural technology, among others.

The JDP team included Counsel Barbara Kaczala and Associate Justyna Kamionowska.

Resist Rezanko Sitek is advising the bankruptcy trustee on the bankruptcy proceedings for SKOK Kujawiak.

SKOK Kujawiak is the largest mutual savings bank in the Polish region of Kuyavia, according to the firm.

Resist announced its mandate includes advising on the “recovery of receivables due to the fund, from activities at the pre-trial stage through court and enforcement proceedings,” as well as on the “process of liquidation of the fund’s assets, both in terms of determining the conditions and method of liquidation, as well as in designing the final contracts concluded with buyers,” among other matters.

The Resist team included Partners Piotr Rezanko and Tomasz Romanowski and Senior Associate Przemyslaw Maluha.

Rymarz Zdort Maruta has advised Bounty Brands Europe Limited on the sale of Stella Pack Europe to Sarantis Polska. Souriadakis Tsibris advised the Sarantis Group. Forum 87 also sold its stake in Stella Pack Europe, making Sarantis Polska Stella Pack’s new sole owner.

Bounty Brands is a consumer brands company that acquires and develops brands in the sectors of apparel, groceries, home, and personal products.

Stella Pack operates in the production and distribution of household products.

Sarantis is a consumer products company with a presence in Eastern Europe.

Forum 87 is a closed-end investment fund.

The Rymarz Zdort Maruta team included Managing Partner Pawel Zdort, Partners Iwona Her and Jakub Rachwol, Senior Associates Malgorzata Banaszkiewicz, Tomasz Kordala, and Artur Ciechomski, and Associates Aleksander Jakubisiak, Natan Fischer, and Filip Ksiazczak.

KWKR Konieczny Wierzbicki and Partners has advised the Van der Vorm Group on its acquisition of 119 residential units located on Siennicka Street in Warsaw.

The transaction was brokered by the Hamilton May real estate company. The Van der Vorm Group is a Dutch investment fund.

According to KWKR, “the ready-to-use apartments are earmarked for long-term rental in the private rented sector. The acquisition represents a further milestone in Van der Vorm’s expansion in the Polish private rented sector to add to their portfolio of properties in Warsaw and Krakow, consisting predominantly of residential PRS and hotel use properties.”

“The commercial residential rental market in Poland is smaller compared to other European cities where we are active,” Van der Vorm Group Management Board Member Margarethe van der Vorm commented. “We recognize a market where we can bring together a lot of our national and international experience to introduce a beautiful and profitable residential product. In Poland, we see a very promising market with a large, young, highly educated target group that is fully engaged in building a successful professional and life career. We offer them high-quality and fully furnished rental apartments in strategic locations in Warsaw and Krakow: within walking distance of the city center, vibrancy, and mobility. And the beauty is: there is still plenty of room for growth in Poland, in terms of space but also due to the strong Polish economy.”

The KWKR team included Managing Partner Marcin Wierzbicki and Partner Lukasz Lanoszka.

Gessel has advised Fulfilio on its investment in SellerSwitch. Meld Jodlowski Szczawinski reportedly advised SellerSwitch.

Fulfilio, part of the OEX Group, specializes in providing e-commerce logistics services. Its operations focus on ensuring efficient inventory management, order fulfillment, returns handling, and offering warehousing and distribution solutions.

SellerSwitch operates in the e-commerce sector, specializing in delivering solutions that facilitate selling via online platforms.

The Gessel team included Managing Partner Marcin Macieszczak, Managing Associates Krzysztof Jasinski and Karolina Krzal-Kwiatkowska, Senior Associate Dominika Lara, and Associate Marcin Walczak.