Category: Poland

  • SSK&W and Tau Nowacki Advise on Medi Ventures’ Investment in Pogaduszki

    SSK&W has advised Medi Ventures on its investment in speech therapy start-up Pogaduszki. Tau Nowacki advised Pogaduszki.

    According to SSK&W, “Pogaduszki is a unique blend of speech therapy tools, AI voice recognition algorithms, and gaming experience.” It replaces traditional speech therapy exercises with mobile games controlled by the child’s voice, diagnosing which sounds in the child’s pronunciation require speech therapy support, and suggesting games and exercises appropriate to the child’s problems.

    Medi Ventures is a seed investment VC fund with US capital investing in Poland. It is active in the area of healthcare, med-tech, and biotech.

    The SSK&W team included Partner Szymon Syp.

    The Tau Nowacki team included Partner Jaroslaw Nowacki and Advocate Jakub Hirnle.

  • Linklaters and Rymarz Zdort Maruta Advise on NREP Acquisition of Majority Stake in 7R

    Linklaters has advised NREP on its acquisition of an 80% stake in Polish logistics developer 7R, with the buyer aiming to invest approximately EUR 200 million into the company. Rymarz Zdort Maruta advised 7R. Kinstellar reportedly advised NREP. Kancelaria Kurek Wojcik i Partnerzy reportedly advised 7R.

    NREP is a Northern European real estate investor managing assets worth more than EUR 19 billion.

    7R is a commercial real estate developer headquartered in Poland. It provides A-class warehouses for rent, including big box facilities, build-to-suit, and urban warehouses. 7R’s portfolio includes 36 assets, with a total area of 1.8 million square meters and a 2.3 million square-meter development pipeline.

    According to the firm, with the investment 7R will accelerate its growth, and NREP will gain a strong logistics platform in Poland, expanding its logistics portfolio to 4.2 million square meters across six countries.

    Back in May, Linklaters advised NREP on a PLN 229 million loan from the EBRD to finance two residential rental projects in Warsaw (as reported by CEE Legal Matters on May 31, 2023).

    The Linklaters team was led by Managing Partner Artur Kulawski, Partner Janusz Dzianachowski, and Managing Associates Monika Lerka, Tomasz Trystula, Szymon Renkiewicz, and Anna Zmitrowicz and included Partners Marcin Schulz and Marta Domino, Counsel Monika Krzyszkowska-Dabrowska, Managing Associates Jedrzej Palka, Lukasz Burakowski, Szymon Sieniewicz, Marta Szrajer, and Wojciech Podlasin, Senior Associates Maciej Ficinski, Wojciech Kobylinski, and Barbara Wanat, Associates Michal Kostewicz, Bartosz Boenigk, Katarzyna Grodzka, Filip Witaszek, Joanna Roman, Marta Strykowska, Justyna Tuleja, Daria Wojciechowska, Michal de Bialynia Woycikiewicz, and Marcin Woloszyn, and Junior Associates Jakub Gerula, Jan Kwiecien, Jakub Sitarski, Wiktoria Sagan, and Jakub Korobczuk.

    The Rymarz Zdort Maruta team was led by Managing Partner Pawel Rymarz and Partner Piotr Fedorowicz and included Partner Iwona Her, Counsel Irmina Watly, Senior Associates Diana Sofu and Piotr Wawrzeniuk, and Associate and Patrick Kozliczak.

  • Hogan Lovells Advises Oriens on Acquisition of Transsystem

    Hogan Lovells has advised Oriens on the acquisition of Transsystem from Tar Heel Capital and other sellers. Sole practitioner Andrzej Chrzanowski advised Tar Heel Capital.

    Transsystem is a Polish company specializing in designing and manufacturing automated material handling systems and steel structures.

    Oriens is an independent privately-owned industrial holding focusing on private equity investments in Central and Eastern Europe, including Germany, Poland, the Czech Republic, Hungary, and Slovakia. According to Hogan Lovells, “the acquisition of Transsystem will enable Oriens to accelerate its development in Central and Eastern Europe and strengthen its companies portfolio.”

    The Hogan Lovells team included Counsels Tomasz Zak and Piotr Zawislak, Senior Associate Tomasz Pietrzak, and Associates Julia Pycka and Tomasz Jablonski.

  • SSK&W Advises Medi Ventures on Virtual Monitor Investment

    SSK&W has advised VC fund Medi Ventures on its investment in clinical trial platform Virtual Monitor.

    According to SSK&W, “Virtual Monitor is a platform that simplifies clinical trials by enabling remote and paperless trials, reducing costs and time spent on individual activities for sponsors, CROs, and Investigators.”

    Medi Ventures is a seed investment VC fund with US capital investing in Poland. It is active in the area of healthcare, med-tech, and biotech.

    The SSK&W team included Partner Szymon Syp.

  • Implementation of the EU Directives on Work-Life Balance and on Transparent and Predictable Working Conditions: Poland

    The EU Directives on Work-life balance and on Transparent and predictable working conditions were introduced into the Polish national legislation on 26 April 2023 and brought about significant changes and obligations for the employers. What do they mean for businesses?

    This report is designed to help companies to understand the requirements and how they have been implemented.

    Implementation of EU Directive on Work-Life Balance (EU Directive 2019/1158)

    Has the directive been implemented in the jurisdiction?

    Yes.

    What is the status of the implementation or draft implementation?

    The new law amending the Labour Code entered into force on 26 April 2023.

    What are the key changes for employers and employees?

    1. Paternity leave (“urlop ojcowski”)
    • The leave is for use by a father to care for a child.
    • It lasts for up to 2 weeks.
    • The leave can be taken before a child reaches 12 months (previously 24 months).
    • Preparation to terminate employment during a period of leave is forbidden.
    • Remuneration for the period of leave will be 100% financed by the Social Insurance Agency.
    1. Parental leave (paid) (“urlop rodzicielski”)
    • The length of parental leave is to be extended from 32 to 41 weeks following the birth of 1 child, and from 34 to 43 weeks if more than 1 child was born.
    • Additional 9 weeks of leave must be taken by the other parent or will be lost (i.e., one parent cannot use the total amount of leave).
    • Leave can be granted as one period or in up to 5 parts.
    • Leave must be taken before the end of calendar year in which a child reaches 6 years of age.
    • In general, additional leave is paid at 70% of an employee’s remuneration.
    1. Carers’ leave (unpaid) (“urlop opiekuńczy”)
    • This is a new entitlement involving leave to care for
      a family member or other person living in the
      same household who needs care or assistance due to serious medical rasons.
    • It allows up to 5 days’ leave in a calendar year (they are lost if not used).
    • It is unpaid leave.
    1. Protection
    • During a period of leaves related to parenthood, employees are protected from their employment
      being terminated.
    • The employer should take no action intended to prepare for the termination of employment.
    1. Time off from work due to force majeure
    • Leave amounting to 2 days or 16 hours may be used in the event of unpredicted circumstances (force majeure).
    • It is eligible for 50% of remuneration (financed by
      the employer).
    1. Flexible working arrangements, additional rights
    • Parents of children aged up to 8 may not, without their approval, work overtime, work at night, have “interrupted working time” or be sent on a business trip. (Similar entitlements were previously for parents of children aged up to 4.)
    • Parents may apply for flexible working conditions, which consist of decreased working time or remote work, “interrupted working time”, an individual working time schedule or flexible working time arrangements.
    • The employer’s decision concerning the above
      requests may not be discriminatory and must be objectively justified.

    What are the main actions for HR departments in preparing for the changes?

    • Review and revise internal labour documentation
      such as:
      • Work regulations and remuneration regulations;
      • Off-boarding procedure (if this exists);
      • Other employment policies and practices applicable to employees with relation to their parental entitlements;
      • Templates of other documentation concerning, for example, consents to work overtime or to be sent on business trips;
      • Application forms required to apply for new leave/time off.
    • Training to acquaint HR teams with the new rules.

    Implementation of EU Directive on Transparent and Predictable Working Conditions (EU Directive 2019/1152)

    Has the directive been implemented in the jurisdiction?

    Yes.

    What is the status of the implementation or draft implementation?

    The new law amending the Labour Code entered into force on 26 April 2023.

    What are the key changes for employers and employees?

    1. Probationary period

    The maximum length of a probationary period is linked with the length of the agreement that is expected to follow the probationary period:

    • If the agreement that follows is supposed to be for a fixed term of shorter than 6 months, then the probationary period should not exceed 1 month;
    • If the agreement that follows is supposed to be for a fixed term of at least 6 months but less than 12 months, then the probationary period cannot exceed 2 months;
    • If the agreement that follows is supposed to be for a fixed term of at least 12 months or an indefinite term, then the probationary period can last for – 3 months (the same
      as before).

    A probationary period shorter than 3 months can be prolonged once by no more than 1 month if the employment contract allows this.

    1. Fixed-term contracts
    • The terms of termination for a fixed-term contract are the same as for an indefinite contract – the employer nees to indicate an up-to-date, real and detailed justification for terminating the employment and consult on it with a trade union (if it operates at the company); such obligations previously were not  applicable to fixed-term agreements.
    • The employee involved will be entitled to reinstatement at the company (which was not previously the case for those employed on fixed-term contracts).
    1. Information on employment terms, which should be presented to an employee within 7 days as of starting work, must be supplemented by detailed information including:
    • Daily and weekly working schedules;
    • Breaks during work;
    • Daily and weekly rest periods;
    • Rules regarding overtime work and related compensation;
    • The rules for switching from shift to shift;
    • If the employee works in several places, the rules regarding movement between those places;
    • Remuneration components other than those specified in the employment contract, as well as cash and in-kind benefits;
    • Terms of contract termination: formal requirements, length of notice, date of appeal to the labour court;
    • The right to training, if the employer guarantees such, and other rules resulting from the training policy (if there is such at the company).
    1. An employee with at least 6 months spent at the company will once a year be entitled to request a change to more stable working conditions (e.g. to be hired full time, or to be hired based on a contract for an indefinite term)
    • If possible, the employer should accept such a request.

    What are the main actions for HR departments in preparing for the changes?

    • They should review their template of additional information and their employment policies and practices (especially those concerning the usage of probationary periods and fixed-term contracts).

    By Katarzyna Sarek-Sadurska, Employment Law & Benefits Expertise Group Leader, and Magdalena Skwara, Senior Managing Associate, Deloitte Legal Poland

    This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms or their related entities (collectively, the “Deloitte organization”) is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No representations, warranties or undertakings (express or implied) are given as to the accuracy or completeness of the information in this communication, and none of DTTL, its member firms, related entities, employees or agents shall be liable or responsible for any loss or damage whatsoever arising directly or indirectly in connection with any person relying on this communication. DTTL and each of its member firms, and their related entities, are legally separate and independent entities.

  • Dentons and SSW Pragmatic Solutions Advise on Financing for CIM Acquisition of Warsaw’s Warta Tower

    Dentons has advised Cornerstone Investment Management and its joint venture partner on the financing for their acquisition of the Warta Tower office building in Warsaw and related capital expenditure. SSW Pragmatic Solutions advised lenders Santander Bank Polska and Erste Group Bank AG.

    According to Dentons, the transaction is valued at more than EUR 63 million. The Warta Tower office building has 20 floors and over 33,000 square meters of leasable space. “In the hands of the new owners, the skyscraper will be redeveloped to meet the highest market standards and provide modern workspaces. The modernization work will take until 2025.”

    Cornerstone Investment Management is a private equity investment management firm.

    The transaction itself was initially announced in 2021, when Dentons advised Cornerstone Investment Management platform 5th Corner on the EUR 123 million acquisition of five Warsaw office buildings, including Warta Tower, from Globalworth (as reported by CEE Legal Matters on October 12, 2021).

    The Dentons team included Partner Tomasz Zwolinski and Counsels Jakub Zienkiewicz and Ewelina Klein.

    The SSW team included Partners Ilona Fedurek and Andrzej Wloch, Senior Associates Piotr Bartos and Karolina Ostrowska, and Associate Filip Grabowski.

  • Norton Rose Fulbright and Wardynski & Partners Advise on Bank Pekao Acquisition Financing for Tewox Retail Park Portfolio

    Norton Rose Fulbright has advised Bank Pekao on the EUR 40 million financing for AB Tewox’s acquisition of a five-retail-park portfolio in Poland. Wardynski & Partners advised Tewox on both the acquisition and the financing.

    The five retail parks are located in Glowno, Swidnica, Przemysl, Kalisz, and Pulawy. The portfolio covers more than 36,000 square meters of leasable area and boasts a nearly 100% occupancy rate. The anchor tenant is Jeronimo Martins Polska, the operator of the Biedronka grocery chain.

    Tewox is a fund managed by Lords LB Asset Management. It was set up in April 2021 and invests in grocery-anchored retail real estate in the Baltic States, Finland, Sweden, Denmark, Poland, and Germany. Lords LB focuses on real estate and private equity investment strategies.

    The Norton Rose Fulbright team was led by Partner Tomasz Rogalski and Senior Associate Igor Kondratowicz and included Senior Associate Patrycja Pakla, Associates Karolina Lepakiewicz, Magdalena Olechniewicz-Blocher, Wojciech Jaskulak, Karol Truszkowski, Cezary Zientecki, and Jan Nowjalis, and Paralegals Martyna Sadowy and Damian Pawlak.

    The Wardynski & Partners team was led by Counsel Marek Dolatowski and included Partners Radoslaw Wasiak, Lukasz Szegda, Michal Nowacki, and Jakub Macek, Lawyers Dagmara Michalska and Rafal Baranowski, and Junior Associate Patryk Jackiewicz.

    Editor’s Note: After this article was published, CEELM learned that KWKR Konieczny Wierzbicki and Partners advised PKO Towarzystwo Funduszy Inwestycyjnych on the sale of the five retail parks. The firm’s team included Partner Lukasz Lanoszka and Associates Mariusz Mielczarek, Anna Matulka, and Karolina Suchon.

  • Dentons and Wardynski & Partners Advise on CIM and Kartesia Financing of Ecowipes Acquisition

    Dentons has advised Cornerstone Investment Management on its financing agreement with Kartesia for the acquisition of biodegradable hygiene product manufacturer Ecowipes Group, including its French affiliate Hydra Beauty & Clean. Wardynski & Partners, working with Stibbe, advised Kartesia.

    According to Dentons, following this ESG transaction, the buyers want to create a large group around Ecowipes, which will, among other things, focus on sustainable consumer solutions across Europe. CEE Legal Matters reported on the acquisition itself back in July 2023.

    According to Wardynski & Partners, Kartesia is a European specialist provider of capital solutions for small and mid-sized companies. Cornerstone Investment Management is a private equity investor based in Warsaw.

    “Ecowipes has three of the most technologically advanced biodegradable nonwovens factories in Europe, two in Poland and one in France,” Dentons reported. The company produces wet wipes, cotton buds, and cotton pads mainly under private labels for major retail chains such as Auchan, Biedronka, and Lidl, but also has its own brands: Tami and Rapid Clean.

    The Dentons team was led by Warsaw-based Partner Tomasz Zwolinski and Senior Associate Katarzyna Mazur and included lawyers in Paris, Luxembourg, and Amsterdam.

    The Wardynski & Partners included Partner Lukasz Szegda, Lawyer Mateusz Tusznio, and Junior Lawyer Sylwia Boguska.

  • B2RLaw and DZP Advise on Vinci HiTech Fund Investment into Oasis Diagnostics

    B2RLaw has advised the Vinci HiTech ASI fund on its nearly PLN 14 million investment into Polish medical technology start-up Oasis Diagnostics. Domanski Zakrzewski Palinka advised Oasis Diagnostics.

    Oasis Diagnostics has designed and developed a diagnostics system to detect pelvic-floor muscle injuries immediately after delivery. Their clinical-knowledge-based technology detects the problem in a one-minute procedure, according to B2RLaw.

    “The nearly PLN 14 million investment raised will allow us to complete the product certification activities in the EU, initiate the certification procedure at the FDA, start production, and launch the product on the market in 2023,” Oasis Board Member Edyta Hryniecka announced. “We also plan to conduct extensive clinical trials to confirm the benefits of implementing the early diagnosis of perinatal injuries with the ONIRY method into clinical practice.”

    “Our innovative system for detecting perinatal injuries, ONIRY, will soon allow us to perform a simple, painless, fast, and precise examination, assessing the condition of the pelvic floor muscles, in any woman who has just given birth by natural forces,” Oasis CEO Katarzyna Borycka commented.

    The B2RLaw team was led by Partner Agnieszka Hajos-Iwanska and included Counsels Malwina Niczke-Chmura and Paulina Wyrostek, Associate Konrad Czernecki, and Junior Associates Malgorzata Tomaka and Krzysztof Judasz.

    The DZP team included Counsel Maciej Goszczyk and Senior Associates Maciej Zajda and Katarzyna Biarda.

  • Gide Advises Goodspeed on Acquisition of Caterings

    Gide has advised temperature-controlled logistics provider Goodspeed on its acquisition of Caterings.

    Goodspeed, established in 2009, is a provider of temperature-controlled logistics services for ready-to-eat meal producers and a catering provider in Poland. It recently became a portfolio company of Enterprise Investors.

    Caterings is a provider of IT software for the catering industry.

    Enterprise Investors is a private equity corporation in Central and Eastern Europe. It has been active since 1990 and has established nine funds that have invested, or committed to invest, a total of EUR 2.2 billion in 154 companies and has completed investments in 137 companies.

    According to Gide, “the acquisition of Caterings marks an important step in the implementation of the strategy announced by Goodspeed and Enterprise Investors to dynamically grow and implement new and innovative solutions in the area of diet catering deliveries.”

    Back in May 2023, Gide advised Goodspeed on an investment from Enterprise Investors (as reported by CEE Legal Matters on May 26, 2023).

    The Gide team included Partner Pawel Grzeskowiak, Senior Associate Wojciech Czyzewski, and Associate Magdalena Zawislak.

    Gide could not provide additional information on the matter.