Category: In-house

  • Deal 5: Yara Legal Counsel Sverre Hodnebo on Sale of Yara Bulgaria and Yara Digital Romania to Nik Group

    On August 30, 2022, CEE Legal Matters reported that Boyanov & Co had advised Yara International on the sale of Bulgarian and Romanian businesses Yara Bulgaria and Yara Digital Romania to the Nik Group. CEE In-House Matters spoke with Sverre Hodnebo, Legal Counsel at Yara International, to learn more about the sale.

    CEEIHM: To start, tell us a bit about Yara International and its (now former) businesses in Bulgaria and Romania. 

    Hodnebo: Yara is the world’s leading crop nutrition company, and as a provider of environmental and agricultural solutions we address global challenges and create positive change.

    In addition to producing and distributing crop nutrition solutions, Yara has been focusing on so-called “digital farming solutions” for quite some time now. Our tools, services, and solutions are built on a combination of technology (hardware and software) and agronomic knowledge. Their purpose is to collect and interpret data and to give the best recommendations possible to farmers (or other stakeholders), in terms of water, soil, and nutrition management. These tools and services improve our overall crop nutrition solutions by supporting farmers with in-time and precise application.

    The business that was sold in Bulgaria and Romania was a digital farming solution called AgroOffice. AgroOffice is a multi-functional farm management software for agriculture that enables farmers to optimize and automate every aspect of their work processes. 

    CEEIHM: What prompted the sale of the two?

    Hodnebo: Yara opted to sell AgroOffice as it no longer was a good fit within the portfolio of digital farming solutions it wanted to maintain and offer.

    CEEIHM: And what do you believe made the targets particularly attractive to the buyer?

    Hodnebo: AgroOffice was attractive to the buyer as it included a feature with detailed maps and a good overview of various smaller areas of farmland, which I understand is particular to Bulgaria. Also, the large customer base was probably interesting.

    CEEIHM: How was the legal work split between your in-house legal team and that of your legal advisors?

    Hodnebo: For this project, Boyanov did all of the heavy lifting, with me facilitating internal commercial feedback and providing general legal input.

    CEEIHM: And why did you pick Boyanov & Co. to assist you on this deal?

    Hodnebo: Boyanov has been assisting Yara for many years, and actually helped us purchase AgroOffice back in 2016. I have been particularly impressed (and assisted) by their hard and fast work, commercial understanding, and pragmatic approach to problem-solving. Highly recommended!

    Originally reported by CEE In-House Matters.

  • Srdjan Sisic Joins One as Chief Corporate Affairs Officer

    Srdjan Sisic has relocated to Montenegro to join One Crna Gora as its Chief Corporate Affairs Officer.

    One Crna Gora is the new name of former Telenor Montenegro, which was acquired by 4iG from the PPF Group (as reported by CEE Legal Matters on November 9, 2021). 

    Sisic has been working as a solo practitioner since October 2019. Prior to that, had spent over 11 years with Telenor in Belgrade, which he first joined as a Legal Counsel for Media, Intellectual Property, and Contract Law in 2008. In 2010, he became a Legal Manager and was appointed to Legal Director in 2014.

    Earlier still, he worked for 8 years as an Attorney at Law in Law Office Sisic.

    Originally reported by CEE In-House Matters.

  • Deal 5: CA Immo Group Head of Legal Ingo Steinwender on Sale of Wspolna 47-49 to Yareal Polska

    On December 1, 2021, CEE Legal Matters reported that Greenberg Traurig had advised CA Immo on the sale of the Wspolna 47-49 office building in Warsaw to Yareal Polska. CEE In-House Matters spoke with Ingo Steinwender, Group Head of Legal at CA Immobilien, to learn more about the sale.

    CEEIHM: To start, tell us a bit about CA Immo and its operations in Poland.

    Steinwender: CA Immo is a specialist in office properties in Central European capitals. It is headquartered and stock listed in Vienna and has branch offices in six countries of Central Europe. Its core business involves leasing, managing, and developing high-quality office buildings. The company covers the entire value chain in the field of commercial real estate, based on a high degree of in-house construction expertise. Founded in 1987, CA Immo controls property assets of around EUR 5.9 billion (Q3 2021 figures) in Germany, Austria, and Eastern Europe.

    Warsaw is one of the core markets for CA Immo, where it has been present since 2001. The investments in the Polish portfolio of the company include the Warsaw Spire (Buildings B and C), Postepu 14, Warsaw Towers, Sienna Center, Saski Crescent, Saski Point, and Bitwy Warszawskiej Business Center. The properties convince with their striking architecture as well as their prime location and well advanced surrounding infrastructure. They have a total area of around 165 000 square meters and a total value of around EUR 590 million, which accounts for around 10% of the total CA Immo group´s portfolio.

    CEEIHM: What do you believe made the target – the Wspolna 47-49 office building – particularly attractive to the buyer?

    Steinwender: The Wspolna office building was in my view attractive to the buyer Yareal because of its central location in Warsaw, its size, and its future development potential.

    CEEIHM: What were some of the hurdles from a legal perspective to finalizing this deal? 

    Steinwender: There were no major hurdles. However, we have not agreed on any escrow mechanism to accelerate the transaction and avoid escrow agreement negotiations. Thus, very detailed co-ordination of works was required. We also had to acquire the authors´ rights to the architectural designs before closing which was, given the relatively high age of the building and architects from Poland and Hungary, actually quite challenging.

    CEEIHM: As you are based in Vienna, do you have a local legal team in Poland or did you rely exclusively on your external counsel? How was the legal work split between your in-house team and your advisor?

    Steinwender: We do not have a local legal in-house team in Warsaw. Our Polish branch manages legal issues from the ordinary course of business independently together with external lawyers, whereas extraordinary issues (like transactions or material court cases) are managed by the in-house team in Vienna in the lead together with the Polish branch. In sell or buy-side transactions the in-house team in Vienna is responsible for and manages the legal due diligence process, negotiates the transactional documents together with the responsible investment manager, procures W&I and title insurances, and has the final say on all legal and contractual issues. The external local lawyers support in negotiations, prepare signing and closing and draft the transactional documents under local law in line with the instructions of the in-house team in Vienna.

    CEEIHM: And why did you pick Greenberg Traurig as your counsel for this deal?

    Steinwender: Greenberg Traurig (Radomil Charzynski’s team) is our first choice for legal advice in relation to transactions in Poland. We have a very well-established and long-standing relationship with GT and common transactions are implemented in an “autopilot” mode. This means in particular that GT and we are a well-coordinated team, that we trust each other and understand us humanly, that GT is fully aware of our requirements and standards, and, last but not least, that GT does proactively perform its part of a transaction. We are very content with the work they perform and the way they perform it.

    Originally reported by CEE In-House Matters.

  • Deal 5: Evernord CFO and Board Member Arnas Vedeckis on Acquisition of Novira Plaza in Riga

    On April 22, 2021, CEE Legal Matters reported that TGS Baltic had advised the Evernord Real Estate Fund III, managed by Vilnius-based investment firm Evernord Asset Management, on its acquisition of a 65% stake in Riga’s Novira Plaza business center. CEE In-House Matters spoke with Arnas Vedeckis, CFO and Member of the Board at Evernord, to learn more about the deal.

    CEEIHM: Tell our readers a bit about Evernord?

    Arnas: Evernord is a group of companies that provides investment services to HNW individuals in the Baltic states, focusing on Lithuania. We have three main divisions: wealth advice, asset management, and consultations in various ad-hoc projects.

    The main company (Evernord UAB FMĮ) holds a B-category brokerage license and manages clients’ investment portfolios, distributes investment products, organizes bond issues, as well as provides custody and settlement services for its clients. The company has been established via a management buyout from the Finnish investment bank EVLI. Thus it still has a close relationship with the bank and distributes its investment products.

    Evernord Asset Management manages collective investment undertakings intended for informed investors. Currently, we have three real estate funds, one in each Baltic state. The company is also supervised by the bank of Lithuania.

    Finally, we also help our investors to diversify their investment portfolios by developing projects that can provide constant cash flows for shareholders. To sum up, we are an investment boutique that manages around 100 million worth of client assets.

    CEEIHM: TGS Baltic advised the Evernord Real Estate Fund III on its acquisition of a stake in the Novira Plaza business center. What were the main drivers behind the acquisition?

    Arnas: The most important driver was the location and scarcity of such land plots in the area. The Property represents a strategically good fit for the fund that focuses on high-quality assets. The A-class business center will be located in central Riga next to 4 hotels, a newly developed Origo shopping mall/office center, and the Riga central train station in which the city plans to invest EUR 500 million by 2024. The second driver was a strong partnership with the developer. Our previous experience with Estonian developer Novira Capital was very successful and has laid a solid ground for our future cooperation. Finally, the supply of modern office buildings in the center of Riga is very limited. Almost all offices here are located in renovated apartment buildings, and new construction business centers are usually located further away from the old town. That is why we see a great perspective in this project.

    CEEIHM: What are your company’s plans for the business center, following the acquisition?

    Arnas: Now the main aim is to finish the development on time and within the budget that both stakeholders have agreed on. The underground construction works have already started, and we are getting ready for the above-ground construction tenders now. The fund, the developer, and real estate brokers are also currently working on gathering a well-diversified portfolio of future tenants.

    CEEIHM: What was TGS Baltic’s mandate on this deal?

    Arnas: TGS represented us by coordinating the shareholders’ agreement with the co-investor and the agreement with the company ensuring the development of the real estate object. The firm’s lawyers also assisted Evernord in establishing a third closed-end investment fund for informed investors, which was open to a limited number of pre-selected individuals.

    CEEIHM: What made you choose TGS Baltic as your advisor?

    Arnas: Our group already has a long partnership with TGS on matters related to investment services, thus they are our top choice when choosing legal advisors. We are confident about their expertise and are very happy to have them on our team along the way. TGS always goes the extra mile to meet our high standards.

    Originally reported by CEE In-House Matters.

  • Deal 5: Practica Capital Co-Founding Partner Donatas Keras on Investment in Biomatter Designs

    On January 18, 2021, CEE Legal Matters reported that Cobalt had advised Practica Capital on its investment in Lithuanian start-up Biomatter Designs – part of the latter’s EUR 500,000 investment round. CEEIHM spoke with Donatas Keras, Co-Founding Partner at Practica Capital to learn more about the matter.

    CEEIHM: Could you tell our readers a bit about Practica Capital? What areas and what countries does your fund primarily invest in?

    Donatas: Founded in 2011, Practica Capital is a dedicated Baltic VC focusing on investments in the Baltic (Lithuania, Latvia, Estonia) and Baltic-origin ventures in Europe. Selectively, we also invest in neighboring Europe. The fund invests from EUR 200,000 to EUR 2 million+ in seed, early-stage ventures. We are a cross-industrial investor focused on backing great teams behind the tech-driven businesses from the region and partnering with them as company builders. We are hands-on VC, usually acting quite fast and taking the leading position in early-stage deals. We also believe in long-term partnerships with founders and look one more step ahead before making any investment.

    CEEIHM: Cobalt recently advised Practica Capital on its investment in Lithuanian start-up Biomatter Designs. What made the start-up particularly appealing to your company?

    Donatas: We particularly liked the team and their bold ambition. The start-up tackles a super-hard problem, and solving it would bring significant change in the protein creation industry. It can affect many other industries and applications also. Being in the crossing zone between AI and biotech, Biomatter Designs can utilize the best of both fields and use the latest developments to their advantage – it gives unprecedented possibilities for the company. 

    CEEIHM: What are Practica Capital’s plans for Biomatter Designs going forward?

    Donatas: Biomatter Designs is an early-stage company that is why all necessary steps are needed: starting with a clear IP strategy, team build-up, and working on initial commercial pilots and traction. Most important is to increase R&D ability and work on the technology itself. The company has established solid and detailed short-term plans and a great vision for the long term – we will try to help achieve these goals for them. 

    CEEIHM: What are some of the intricacies of this transaction that Cobalt assisted you with?

    Donatas: We have some particular issues regarding IP and data protection also employment-related matters Cobalt mastered very well and efficiently. 

    CEEIHM: What influenced you to opt for Cobalt as your advisor on this transaction? Will your relationship with the firm extend onto future projects?

    Donatas: Yes, we are completely satisfied working with Cobalt. We trust their experience on VC-type deals. And with every new IP heavy deal, they build their expertise further in this field, which we are keen to use. 

    Originally reported by CEE In-House Matters.

  • Inside Insight: Pascale Rahman, Vice President & General Counsel EMEA and India at Flex

    Interview with Pascale Rahman, Vice President & General Counsel EMEA and India at Flex about her background and best practices.

    CEELM: Can you walk us through your career leading up to your current role?

    Pascale: I had the opportunity to study both the civil law and common law systems while I was a student, first at Pantheon Assas in Paris and later at Oxford, which was a really great starting spot for my later career.

    I worked for a number of years with large international law firms in London, Paris, and Brussels. While practicing with these firms, I mostly did commercial work, after which I moved into antitrust. After about ten years of doing that, in 2006, I moved in-house with a large manufacturing co- supplier in the commercial automotive space as General Counsel and that’s how I started on the path that led me to Flex in 2009.

    Currently, I’m General Counsel for Flex for EMEA and India, but I am the chief lawyer for our Global Operations function which extends beyond EMEA.

    CEELM: Why did you decide to join Flex?

    Pascale: They came and found me, to be honest! I was working for a large industrial group, operating in the automotive sector all over the world. Flex was interested in my international and operational background and wanted me to build up their European team. Naturally, I was very interested in  the opportunity – it was a job that required building things from the ground up, and I love creating and building teams!

    CEELM: Tell us about Flex, and its legal department. How big is your team, and how is it structured?

    Pascale: Flex is a leading global manufacturing and supply chain company, servicing a number of industries, including medical, automotive, industrial, communications, and consumer devices, to name just a few. My role coming in was to build up the company’s European team here at the Vienna headquarters.

    Currently, we are a team of between five and seven lawyers for Europe, in total, with our biggest footprint being in the CEE region, mostly in Hungary, Romania, Poland, and Ukraine. We provide a wide range of legal support, including on commercial contracts and on regulatory, compliance, employment, and M&A matters– a wide mix really.

    My role with Flex, in Europe, involves handling things on a broader scale as well – covering the whole ambit of legal support for all operating sites in CEE and beyond, which means some 30,000 employees in the region.

    Globally, my position as the primary legal support to Global Operations of the company extends to India, Mexico, Brazil, and North America. We have teams in all of these locations, but we tend to mix and match their input to a great extent, so as to not allow geographical boundaries to divide them. This global team consists of about 40 people.

    Before last year, which forced us to work completely virtually, I visited all of our locations at least once a year. Presence, be it virtual or physical, is the key when it comes to running a good high performing team, and I try to stay in touch with all of the offices and communicate with them as often as possible.

    CEELM: Was it always your plan to go in-house?

    Pascale: By essence – being part French and part Indian – I am an international person and I wanted to work in an international context. Also, I love tackling problems head-on and offering practical solutions. The best part of practicing law is the ability to apply yourself directly to solving a problem, rather than simply analyzing it from the sidelines. Flex was the perfect setting for that.

    Not only does the company have a large international footprint – we operate in over 30 countries – but it is also a very diverse and inclusive environment. The international context played perfectly to my experience in both common and civil law systems, and I felt right at home with the company. Here, I have the opportunity to look beyond the country I’m currently operating out of and focus on the global business.

    Also, I like the business side of things, and I always believed that in-house positions are more exposed to it. Here at Flex, I really feel like part of the business.

    CEELM: What was your biggest single success or greatest achievement with Flex in terms of particular projects or challenges? What one thing are you proudest of?

    Pascale: I think it’s keeping a high level of engagement and motivation within the team, especially this year.

    We’ve had a lot of hurdles in 2020 that could have obliterated that, but we kept going, day in and day out, and we never lost our sense of purpose. Flex creates life-improving products – for example we did a lot of work on producing sorely needed ventilators for people last year. This kept our focus.

    Knowing the importance of our work, never once dropping the ball and losing sight of why we work – that was our greatest achievement. The team remained completely dedicated and involved and continued operating and delivering in key areas, and I could not be more proud of that.

    CEELM: How would you describe your management style?

    Pascale: I think my style is one of being a ‘federator’ (smile). I try to connect people, issues, and practices, across our entire network.

    I don’t stare at a problem, I like to be able to be part of the solution and instill that in the team. I’d say that this management style is an inclusive one. Also, I set expectations and I believe in keeping myself and others accountable to those expectations, but doing so in a humane way.

    I like to think of myself as a compassionate leader and one that believes very strongly in a sense of collaboration. I deeply believe that people ought to reach out when they need help, and give help when they see others who need it – and I try very hard to nurture this environment with my global teams.

    CEELM: Do you have any personal habits or strategies you employ that may not be common but that really help you succeed in your role? Things you’ve developed yourself over the years that might not be obvious?

    Pascale: Mixing and matching! I think that people, often, tend to get fixated on geographical boundaries as a source of division, but I firmly believe that this needs to be overcome.

    I am a big advocate of a way of thinking that counters the more traditional approach – that global roles must be run out of one single HQ. Just because I happen to be situated in Vienna does not mean that I should have any problem focusing on more than EMEA. Precisely because of this, I like to mix and match my teams, getting the most out of them all, and getting them to share their experiences and best practices. If a team in India adopts an approach that reaps benefits, there is no reason why teams in Europe, Mexico, and Brazil, for example, can not use it as well.

    By transcending boundaries, you gather a motivated, engaged, and innovative team, which breeds synergy and grows the entire team. After all, the world is global – there’s no reason why teams shouldn’t be as well.

    CEELM: What one person would you identify as being most important in mentoring you in your career – and what in particular did you learn from that person?

    Pascale: I don’t think I can point to a single person. I’d say I have been fortunate to learn many things from many teachers in all areas of my life; personal, family, professional from friends, colleagues, and bosses. We are, after all, the sum of our experience. I find that surrounding yourself with great people gives you the best chance to learn from each one. Collecting the best from each one is a journey of continuous improvement.

    CEELM: On a lighter side, what is your favorite book or movie about lawyers or lawyering – and why?

    Pascale: The best book about lawyers, honestly, and the one that resonates the most with me, is To Kill a Mockingbird by Harper Lee. Seeing small town lawyer Atticus Finch staunchly defend the rights of a wrongly accused African American in that specific historical setting really shows the value and importance of always doing the right thing and defending the underdog. No matter the cost.

    This Article was originally published in Issue 8.3 of the CEE Legal Matters Magazine. If you would like to receive a hard copy of the magazine, you can subscribe here.

  • Deal 5: MSIN Group Corporate Legal Advisor Tina Bacic on Acquisition of Neograf

    On April 1, 2021, CEE Legal Matters reported that ODI Law had advised the MSIN Group on the acquisition by member company EGP of a 75.11% stake in Croatia-based cardboard packaging manufacturer Neograf from Croatian entrepreneur Dusan Boras. CEE In-House Matters spoke with Tina Bacic, Corporate Legal Advisor at MSIN Group, to learn more about the matter. 

    CEEIHM: Tell us a bit about the MSIN Group.

    Tina: MSIN Group is a private equity group, located in Slovenia, that focuses on opportunity investments in the share capital of middle to large, mostly, production companies. Our portfolio consists of companies that are involved in security printing, commercial printing and packaging, producing gasket materials and gaskets, metal solutions, the traffic and license plates business, innovative mobile solutions, production and sale of refractory materials, painting solutions, and brushes. Although the headquarters of our company is in Slovenia, we do stretch our business to global markets and our companies have established daughter companies abroad – within the EU, Africa, China, and the USA. Our beginnings date back to the year 2002 when two partners started with a few investments. Today, our network of companies employ more than 1,100 people, and we register a yearly revenue of approximately EUR 100 million. We are proud to be one of the largest and most successful private holdings in Slovenia, with a long-term ownership focus. 

    CEEIHM: ODI Law recently advised MSIN on its acquisition of a 75.11% stake in Neograf. What made that particular target attractive to the MSIN Group?

    Tina: Neograf d.o.o., located in Kraljevica, Croatia, was a particularly interesting investment for our company EGP d.o.o., from Skofja Loka, Slovenia, which is involved in commercial printing and cardboard packaging. 

    With Neograf d.o.o. the business of cardboard packaging can be consolidated in terms of new markets and new sales opportunities. Besides Skofja Loka in Slovenia, the location in Kraljevica, Croatia, represents an additional production site, which adds value to our production potential, and which is particularly important for our customers from the pharmaceutical industry. By integrating Neograf d.o.o. into the MSIN group we have broadened the scope of our printing business with leaflets/instruction leaflets printing for the pharmaceutical industry. And, last but not the least, Neograf’s production site and building are quite new, and their knowledge combined with technically well-equipped production results in effective operations and keeps them up-to-date with trends in the industry.

    CEEIHM: What are your plans for Neograf post-acquisition?

    Tina: We would like to continue with their usual business operations, exchange know-how and maximize each other’s productivity through learning and sharing of each other’s best production practice and operations, implement new standards to broaden their scope of work and production potential, and bring some more business from markets where they were previously not present.

    CEEIHM: What was ODI Law’s mandate and what legal challenges did you face on this cross-border deal?

    Tina: ODI Law was appointed to help our legal team conduct the legal due diligence on some legal points, particularly in the fields where we assessed a potential higher risk connected to the need for knowledge of Croatian legislation. ODI Law is present in most ex-Yugoslav markets and therefore employs lawyers with knowledge and experience in the Croatian legal system and regulations as well. ODI Slovenia’s M&A team also recently worked with us on another transaction, which was also connected to Croatian markets, which further encouraged us to use their services.

    Finally, Primoz Mikolic, Head of M&A at ODI Law, led the legal part of negotiations on the SPA on our side. The greatest threat we saw to the deal was our lack of familiarity with Croatian legislation, but that was minimized through the help of the ODI team and their experience. As Croatia is our neighboring country and we can understand their language, our legal team did not face that many problems with studying their legislation and assessing open points/main risk factors. Ultimately, it was easier for us as, we are familiar with the mentality of Croatian people and their culture and values.

    CEEIHM: Finally, why did you choose ODI Law as your advisor on this deal?

    Tina: ODI Law has been our loyal business partner and legal advisor and supporter through the past ten years. We respect their work, and they respect our business experience. We believe that their lawyers can easily incorporate into our legal team and we both prosper through our business relationship.

    Originally reported by CEE In-House Matters.

  • Josef Holzschuster Moves from Philips’ Budapest to Amsterdam Branch as Head of Legal

    Austrian lawyer Josef Holzschuster will be relocating from Budapest to Amsterdam, having been appointed Head of Legal, Markets DA at Philips, in which capacity he will lead the worldwide Legal Team for the Philips Domestic Appliances business, reporting to the General Counsel for DA, also located in Amsterdam.

    Holzschuster has been in Budapest since 2018 when he was appointed Country Manager for Hungary at Phillips (as reported by CEE Legal Matters on September 11, 2018). He had relocated to the Hungarian capital from Prague, where he joined Phillips in 2014 as its Head of Legal Affairs for CEE (as reported by CEE Legal Matters on September 25, 2014).

    Prior to joining Phillips, he was based in Vienna as Director of Legal Affairs for CEE at HP, Head of Legal and Regulatory at UTA Telekom AG (now Tele2), Head of Legal at ASFINAG, and Senior Corporate Counsel at Connect Austria. From July 2013 to September 2014 he also ran his own business and management consulting & coaching firm.

    Holzschuster was a keynote speaker at the 2016 CEE GC Summit in Istanbul. His essay, “Do Everything With Nothing,” on managing an in-house team when faced with budget pressure, was included in CEE Legal Matters’ 2017 Corporate Counsel Handbook, and participated in this year’s CEE Legal Matters Annual Expert Round Table (a transcript of which was published in Issue 8.1 of the CEE Legal Matters magazine).

    Holzschuster received his Magister Juris and his Master’s degree in Legal Information Technology from the Karl Franzens University in Graz in 1994.

    Originally reported by CEE In-House Matters.

  • Deal 5: Infosys GC Inderpreet Sawhney on Acquisition of GuideVision

    On September 22, 2020, CEE Legal Matters reported that DLK Legal in Poland and Kinstellar in Hungary and the Czech Republic, working together with Osborne Clarke as lead counsel, had advised Infosys on its EUR 30 million acquisition of GuideVision. CEEIHM spoke with Inderpreet Sawhney, Group General Counsel and Chief Compliance Officer at Infosys, to learn more about the deal.

    CEEIHM: So our readers have a bit of background, tell us a bit about Infosys.

    Inderpreet: Infosys is a global leader in technology services and consulting, enabling clients in over 45 countries to create and execute strategies for their digital transformation. For the year ending on March 31, 2020, we reported a revenue of USD 12.8 billion. Our market capitalization is approximately USD 51 billion. We have a healthy balance sheet, with approximately USD 2.9 billion of cash and cash equivalents. We employ 242,371 employees across the globe, serving clients across multiple industry segments such as financial services, healthcare, manufacturing, retail, communications, energy & utilities, etc. We are listed on the Indian stock exchange and on the NYSE in the USA. Infosys was ranked #3 on 2019 Forbes’ “World’s Best Regarded Companies” list for our world-class governance, trustworthiness, and the strength of our products and services

    CEEIHM: What was the business case behind the acquisition of GuideVision?

    Inderpreet: In terms of the business case, GuideVision is one of the largest ServiceNow Elite Partners in Europe. GuideVision is an award-winning enterprise service management consultancy specialized in offering strategic advisory, consulting, implementations, training, and support on the ServiceNow platform. GuideVision has a brilliant reputation in the ServiceNow ecosystem for its digital transformation skills, including end-to-end implementation expertise for clients globally, availability of local language speaking ServiceNow experts, and the ability to scale and train en masse. It has built trusted and satisfied strategic customer relationships, and has a scalable data replication tool that is complementary to our own ServiceNow capabilities in the region. 

    Ultimately, through this acquisition, Infosys further enhances its digital capabilities, strengthens Infosys’ Cobalt portfolio of cloud services, and reaffirms our commitment to the growing ServiceNow ecosystem. GuideVision brings to Infosys end-to-end offerings, including SnowMirror – a proprietary smart data replication tool for ServiceNow instances – that enables over 100 enterprise clients to simplify complex business and IT processes. GuideVision’s training academy and nearshore capabilities in the Czech Republic, Hungary, Poland, and presence in Germany and Finland strengthens Infosys’ ServiceNow capabilities, offering clients in Europe unparalleled capabilities in cloud-first digital transformation.

    CEEIHM: When the acquisition was announced, it was expected to be completed during the third quarter of 2021. What are the main steps to be taken until it is finalized?

    Inderpreet: Actually, we have already completed the transaction on October 5, 2020. There were not many steps in between (as we completed most of the tasks prior to announcement) – only a few regulatory matters that we were waiting for to be finalized. This also explains the short period it took to close the deal since we announced it. 

    CEEIHM: What would you say was the most complex aspect of this acquisition? What were the main hurdles along the way and how did you overcome them?

    Inderpreet: One of the most complex aspects of this acquisition was the presence of Guidevision in the Czech Republic, Hungary, Poland, as well as its having capabilities in Germany and Finland, which presented many compliance-related and jurisdictional challenges. Also, while our legal team had proficiency in English, a lot of documentation was in local European languages, meaning we had to work with local jurisdictional experts to overcome this language barrier. Having said that, we had a pleasure working with different firms and teams and a lot of learning opportunities presented themselves.

    CEEIHM: Infosys relied on Osborne Clarke, Kinstellar, and DLK Legal as legal advisers on this deal. What were the main considerations for which you picked each of them?

    Inderpreet: Osborne Clarke is one of our go-to firms in Europe. In particular, one Partner – Herke Van Hulst, who lead this transaction – was by our side in a previous deal in Europe as well and we feel we’ve achieved a good level of understanding of each other by now. They know us well and how we approach various matters. Since this deal involved other jurisdictions where Osborne Clarke is not present, they needed to switch to someone on the ground for bits of the deal. They told us they have a few best friends that they trust – Kinstellar and DLK Legal – and we went with their recommendation. It simply came down to looking to replicate our successful past collaboration with someone who knew our standards and we knew we’d be comfortable to work with.

    Originally reported by CEE In-House Matters.

  • Timur Khasanov – Batirov Joins Stada as Head of Compliance for Russia and CIS Region

    The Stada Group has hired Timur Khasanov – Batirov in the role of Head of Compliance for Russia and the CIS Region.

    As part of the Khasanov – Batirov’s role, he will be responsible for compliance risk management.

    Khasanov – Batirov started his career as an Associate at Baker McKenzie, and later worked as an Executive Officer of Legal & Corporate Governance at Carlsberg Group, Chief Compliance Officer at DTEK Energy, Co-Chairman of the Compliance Club at the American Chamber of Commerce in Ukraine, and Compliance Officer at Dr Reddy’s Laboratories.

    Khasanov – Batirov told CEE In-House Matters that he is “delighted to join Stada and hope to utilize my compliance experience in the region for the benefit of the company.”

    Originally reported by CEE In-House Matters