Category: Slovenia

  • Selih & Partnerji Advises Constellation Software on Acquisition of Halcom

    Selih & Partnerji Advises Constellation Software on Acquisition of Halcom

    Selih & Partnerji has advised Constellation Software on the acquisition by subsidiary Emphasys Software of Halcom, a Ljubljana-based banking software solutions provider in the Adriatic region, from the Cadez family, including Founder and Chairman Matjaz Cadez. 

    According to a Halcom press release, “Emphasys Software provides an array of software solutions and related services to entities in the public and private sectors, including affordable housing agencies, local municipalities, travel and tour operators, real estate brokers and agents, and financial lenders.”

    “We are excited to bring in such a strong team to the Emphasys family,” said Mike Byrne, Emphasys CEO, in that same Halcom press release. “In working with the leadership at Halcom we can see how their values fit well with ours and their commitment to their client base is very deep. With the best practices Emphasys brings to the table and the products and vision within the existing Halcom team, I am excited about the positive impact we can have for the clients.”

    Selih & Partnerji reported that it was unaware of any external legal counsel advising the Cadez family on the deal.

  • Miro Senica Advises Creatriks on Speedinvest II Investment

    Miro Senica Advises Creatriks on Speedinvest II Investment

    Miro Senica and Attorneys has advised the Slovenian start-up company Creatriks, Kreativne Komunikacije, d.o.o. on investment of EUR 550,000 it received from Austrian company Speedinvest II International GmbH, which the firm describes as “up to the present day … the biggest investment in Slovenia to a Slovenian start-up company.”

    Creatriks, according to Miro Senica, “developed an application that facilitates and simplifies communication in the hospitality industry (between staff), thereby optimizing and simplifying management in the hospitality industry and enabling a higher rate of return due to the cost-efficient management of hospitality facilities.” The firm also reports that a Ljubljana-based publication, ABC Accelerator, has described Creatriks as “a company which is ‘at the forefront of the hospitality revolution’.”

    The Miro Senica and Attorneys team advising CREATRIKS was led by Attorney Uros Cop.

  • Wolf Theiss Advises SIAD on Acquisition of Remaining Shares of Istrabenz Plini

    Wolf Theiss Advises SIAD on Acquisition of Remaining Shares of Istrabenz Plini

    Wolf Theiss Ljubljana has advised Societa’ Italiana Acetilene e Derivati (SIAD), which already owned 49% of Istrabenz Plini d.o.o., on its successful acquisition of the remaining 51% share from Istrabenz d.d. Slovenia’s Zdolsek Attorneys at Law advised the sellers on the transaction, which closed on September 7, 2016.

    Wolf Theiss reports that SIAD, which was founded in Bergamo, Italy, in 1927, is “one of the most important chemical groups in Italy and supplies a full range of industrial, specialty, food and medical gases.” According to the firm, Istrabenz Plini is a Koper-based Slovenian company that distributes liquified petroleum gas and natural gas through pipelines and distributes technical gases for industrial and medical use. In addition to Slovenia, Istrabenz Plini operates (either directly or through subsidiaries) in Croatia, Serbia, and Bosnia and Herzegovina.

    Wolf Theiss advised on transaction documentation, negotiation of the SPA, and escrow arrangements, as well as the merger filing in Slovenia. The firm’s team was led by Partner Klemen Radosavljevic, with the assistance of Associate Tjasa Lahovnik and Associate Petra Zupancic.

  • ODI, Selih & Partnerji, Ulcar & Partnerji, and White & Case Advise on SKB Financing to KJK and Underlying Acquisition

    ODI, Selih & Partnerji, Ulcar & Partnerji, and White & Case Advise on SKB Financing to KJK and Underlying Acquisition

    ODI has advised SKB Banka d. d. (a part of Societe Generale Group) on a EUR 17.25 million acquisition financing of KJK Investicije 3 d.o.o., a Slovenian SPV under the control of KJK Fund II. Selih & Partnerji advised KJK on the financing and the underlying transaction — KJK’s acquisition of Tomplast d.o.o. (and indirectly its subsidiary Unitplast d.o.o.) from Ramapo Holdings Limited (which was represented by Ulcar & Partnerji and White & Case).

    KJK Fund II — which was launched in 2012 and is designated for investments in the Balkan region — is domiciled in Luxemburg and represents a part of fund management operations of KJK Capital Oy, an independent asset manager headquartered in Helsinki, Finland.

    Tomplast is a Slovenian production company for the production of thermoplast with over 35-year-old tradition in automotive, leisure, electric tools and building industry, electronics and telecommunications, and industrial equipment. In addition to the acquisition financing the financing was provided also to Tomplast, mainly for the purposes of refinancing its existing financial debt.

    ODI advised SKB on all legal structuring issues in respect of the financing documentation, drafted and negotiated the facilities agreement and security documents, and provided SKB with closing assistance. The firm’s team was supervised by Managing Partner Uros Ilic and led by Senior Associate Lea Pecek, assisted by Associate Masa Drkusic on preparation of the security documents. 

    The Selih & Partnerji team advising KJK was led by Partner Mia Kalas, supported by Barbara Hocevar and Spela Remec.

    Matjaz Ulcar of Ulcar and Partners led his firm’s team advising Ramapo Holdings Limited. 

    Michal Smrek and Damian Beaven —who both have since left the firm to join R2G (as reported by CEE Legal Matters on June 23, 2016) — led the White & Case team.

  • ODI and Jadek & Pensa Advise on Purchase of Planet Tus Shopping Center in Koper

    ODI and Jadek & Pensa Advise on Purchase of Planet Tus Shopping Center in Koper

    ODI has advised Tus Nepremicnine, the real estate company of the largest Slovene retailer Tus, in the sale of its shopping center Planet Tus Koper to the South African real estate fund Greenbay, which was advised by Jadek & Pensa.

    Greenbay as the best bidder and Tus have entered into the asset purchase agreement and into a partnership agreement, in accordance with which Tus will remain in the shopping center as its largest tenant. HETA Asset Resolution as the lessor of the Planet Tus Koper (which was advised by its in-house lawyers) is also participating in the transaction. Closing remains subject to normal contractual conditions.

    Within the past year, the Tus Group has been undergoing preventive restructuring proceedings, providing a framework for operative and financial restructuring of Group companies in Slovenia and abroad (as reported by CEE Legal Matters on February 5, 2016). 

    According to Tus, the agreement achieved the best possible conditions for all stakeholders and allows Tus to remain a major player in the Slovene coastal area on the long term. As this is the first investment of Greenbay in Slovenia, Tus is also “excited about working together with South African partners and proud that Planet Tus Koper is their first investment in Slovenia.”

    The ODI team advising Tus was co-led by Managing Partner Uros Ilic and Senior Associate Katarina Skrbec, and the Jadek & Pensa team advising Greenbay was led by Partner Ozbej Merc.

    Image Source: koper.planet-tus.si

  • Selih & Partnerji Advises C3 on Acquisition of Majority Stake in PM

    Selih & Partnerji Advises C3 on Acquisition of Majority Stake in PM

    Selih & partnerji has advised German company C3 on its acquisition of a majority stake in PM, Slovenia’s largest content marketing agency, making C3 the biggest and most successful content marketing agency in Europe. The sellers were represented by Kavcic Rogl Bracun (KRB) law firm.

    According to a C3 press release, “talks regarding capital ties and a strategic-development partnership between C3 and PM ran for more than a year. During this time, C3 analyzed and assessed the professional competence and creative strength of PM, as well as the direction of its development, the quality of its services, its clients, its business excellence and its results. According to the agreement, PM will maintain business and development autonomy, while the acquisition will ensure the lasting and long-term stability of PM and will lay the foundation for its continued development among the leading communication agencies in Slovenia and, in the future, Eastern Europe, and the Western Balkans. The material basis of the partnership is the duty of both agencies to provide results for their clients, the highest quality services, and technological development. As a member of the C3 network, PM, which currently generates more than half of its revenue in digital communications, will carry on and strengthen its digital and content marketing services for clients in Slovenia and the region. The partners have already begun cooperating on some projects for C3’s existing clients as well as on attracting new, common clients. This cooperation will also provide better access to markets that are important for Slovenia and Slovenian exporters, which will expand the services on offer from PM and improve the effectiveness of complex communication challenges, which even the best Slovenian firms are faced with in foreign markets.”

    C3 itself came into being just over a year ago with the merger of two content marketing agencies in Germany: KircherBurkhardt and Burda Creative. Last year, one of the biggest and most successful British agencies, Seven, joined the C3 network, which also established business partnerships in North and South America. The company currently employs over 600 people, has more than 80 regular clients, and boasts nine regional offices, including Slovenia. Additionally, C3 generates annual revenues exceeding EUR 100 million.

    The Selih & partnerji team was led by Partner Tilen Terlep, supported by Associate Sandra Sabic.

    Editor’s Note: After this article was published KRB confirmed that it had advised the sellers of PM shares, Igor Savic and Primoz Inkret, each of whom sold 25.5% of the shares. The firm’s team consisted of Partner Simon Bracun, Senior Associate Jana Bozic, and Associate Spela Juratovec.

  • ODI Lawyer Appointed President of Slovenian Copyright Board

    ODI Lawyer Appointed President of Slovenian Copyright Board

    ODI Law has announced that Senior Associate Tilen Tacol has been appointed the new President of the Slovenian Copyright Board.

    According to ODI Law, “the Copyright Board is a professional, independent and impartial authority dealing with settling of disputes concerning collective management of copyright and related rights. The Copyright Board decides on appropriate tariffs for the use of authors’ works, as well as on other issues relating to conclusion and lawfulness of agreements concluded between copyright collecting societies and representative organizations of users of authors’ works, whenever the relevant actors cannot come to an agreement.”

    Tacol is a graduate of the University of Ljubljana (2003) and a professional representative before the Office for Harmonization in the Internal Market (Trade Marks and Designs) in trade mark matters. He joined ODI in 2013, after spending two years as a Procurator and Legal Consultant at Debora d.o.o. and another five years as a Senior Judicial Adviser at the Supreme Court of the Republic of Slovenia.

  • Karanovic & Nikolic Adds Partner and Office in Slovenia

    Karanovic & Nikolic has announced the addition of Slovenian Banking & Finance lawyer Marko Ketler, who joins from the ODI Law Firm to open K&N’s Slovenia office.

    Ketler has over 7 years of Corporate/M&A and Private Equity experience with niche experience in acquisitions with financing aspects. He obtained his law degree from the University of Ljubljana in 2007 and received an LL.M. from the London School of Economics and Political Science in 2012. He started his career with Rojs, Peljhan & partners in 2008 before joining ODI in August 2012.  

    According to a statement released by the firm, “as head of the Slovenian office, Marko will be responsible for developing the Firm’s strategy and business in Slovenia going forward.” The firm reports that its new office in Ljubljana “will be a full provider of legal services and [will be] fully integrated will all other Karanovic & Nikolic regional offices.”

    With the Slovenian office, the firm now “will officially cover all territories of the ex-Yugoslavia”, and becomes the first Serbian firm to open an office in Slovenia. 

    Image source: odilaw.com
  • ITEM Represents Alcatel Lucent in Successful Challenge to SIPO Ruling

    The Slovenian ITEM law firm has successfully represented Alcatel Lucent in a challenge to the decision of the Slovenian Intellectual Property Office (SIPO) to refuse to protect Alcatel Lucent’s “LIGHT RADIO” mark in Slovenia.

    In July 2011 Alcatel Lucent had applied to register the international word mark LIGHT RADIO for goods in Class 9 of the Nice Classification, namely “telecommunication apparatus, equipment and software”. The mark designated several countries, including Slovenia. In November 2011 SIPO issued a provisional refusal of the mark on the grounds that it was devoid of any distinctive character, it deceived the public, in particular as to the nature, quality or geographical origin of the goods, and it served, in the course of trade, to designate the kind, quality, quantity, intended purpose, value, geographical origin or time of production of the goods, or other characteristics of the goods.

    SIPO did not provide any specific reasons for the provisional refusal, and did not clarify which part of the sign was allegedly devoid of any distinctive character and why (nor did it state that the sign as a whole was devoid of any distinctive character); it did not explain which characteristics of the goods were allegedly designated by the mark and why; and it did not provide reasons for the alleged deceptive nature of the mark. SIPO invited Alcatel Lucent to respond to its provisional refusal, but in May 2012, after considering Alcatel Lucent’s response, SIPO refused the mark for “telecommunication apparatus and equipment” (but did grant protection to the mark for “software”). 

    In July, 2012, Alcatel Lucent filed an administrative action before the Slovenian Administrative Court arguing that SIPO had failed to provide the specific facts and reasons underlying its provisional refusal, and should have done so before issuing its final decision. In doing so, according to ITEM, “SIPO … breached its duty to enable it to protect and enforce its rights in the best possible way, thereby acting contrary to the law.”

    The Administrative Court agreed, holding that SIPO had violated applicable administrative procedure provisions. The Court set aside SIPO’s decision and remitted the case back to SIPO for further determination. Upon Alcatel Lucent’s restriction of the goods for Slovenia to: “telecommunication apparatus, equipment and software, except radio sets”, SIPO granted protection to the mark. 

    According to ITEM lawyer Katja Kovacic, “the case revealed a deficiency in the Slovenian trademark examination procedure, as SIPO failed to provide specific facts and reasons for its provisional refusal. However, since this administrative dispute was initiated, SIPO has improved its practice and has begun to provide concrete reasons for provisional refusals.

     

  • Wolf Theiss Advises on Slovenian Banks’ Return to International Capital Markets

    Wolf Theiss has advised Commerzbank, Merrill Lynch International, and UniCredit Bank on managing the issuance of bonds by Nova Ljubljanska banka, d.d, Ljubljana (NLB), the largest Slovenian bank.

    Wolf Theiss acted as Slovenian legal adviser to the managers in connection with the issuance of the EUR 300 million 2.875 per cent Notes due 2017. The yield to maturity of the Notes at the issuance was 3 per cent. The Notes, which were awarded international ratings BB-/BB- by the rating agencies Fitch and Standard & Poors, are listed on the Luxemburg Stock Exchange. 

    NLB is the first Slovenian bank to successfully return to the international capital markets after a 5 year absence. The market’s interest for the Notes was substantial, with indications of interest from over 40 accounts. The orders were entered mainly by the large high quality buy-and-hold investors, with asset managers purchasing 68% of the issuance while the rest was purchased by pension funds, insurance companies, banks and others. The majority came from the United Kingdom (79%), followed by Italy (7%), Slovenia (5%), Netherlands (4%) and others (5%). 

    Wolf Theiss reports that NLB will use the proceeds from the bonds for general funding purposes, diversification of funding sources, and replacement of some more expensive funding sources. Further bond offerings in the future are anticipated. 

    The firm’s team was led by Partner Markus Bruckmuller and Associate Uros Notar. The scope of their work included negotiating the documentation from a Slovenian law perspective, drafting the taxation section in the prospectus, and providing a standard legal opinion on the documentation. Wolf Theiss Managing Partner Erik Steger said of the deal that: “It is of particular importance to see evidence of an improving market also in Slovenia and its capital and debt market. We are happy to effectively and efficiently support so many successful issuers of bonds.”