Category: Deals and Cases

CMS has advised Austria’s Alpla on its acquisition of Polish pharmaceutical packaging producer Apon.

Alpla specializes in plastic packaging solutions, producing packaging systems, bottles, caps, and injection-molded parts for a range of industries.

According to CMS, Alpla is “strengthening the presence of its pharmaceutical division in Central and Eastern Europe following the acquisition of the Polish company Apon. Apon was founded in 1985 as a family business. Today, around 45 employees produce plastic packaging for the pharmaceutical industry at the Zyrardow site near Warsaw. Among other things, Apon manufactures primary packaging for medicines in accordance with ISO 15378 under clean room conditions.”

Earlier this year, CMS advised Alpla on its investment in Swedish start-up Blue Ocean Closures (as reported by CEE Legal Matters on January 11, 2022). In 2021, CMS advised Alpla on a joint venture with Ecohelp and UPT (as reported on October 14, 2021) and its acquisition of the Wolf Plastics Group (as reported on October 27, 2021).

The CMS team included Vienna-based Partner Alexander Rakosi, Associates Marie-Christine Lidl and Anna Hiegelsperger, and Lawyer Dieter Zandler, and Warsaw-based Partner Blazej Zagorski, Senior Associates Joanna Bialoskorska, Maciej Olejnik, and Maciej Andrzejewski, Associates Kinga Mogilnicka and Karolina Terech, and Lawyers Aleksandra Dalecka, Tomasz Piotrowski, Michal Serwa, Agnieszka Gorecka, Marta Trebacka, and Katarzyna Los.

CMS did not respond to our inquiry on the matter.

Queritius and Wolf Theiss, working with Dechert, have successfully represented the interests of the Mol Group in a USD 230 million ICSID arbitration case against the Republic of Croatia. Reportedly, Weil Gotshal & Manges, Peters & Peters, and Brick Court Chambers also represented Mol.

According to Queritius, the case concerned claims that arose under the Energy Charter Treaty. “The tribunal has roundly rejected Croatia’s allegation that Mol’s Chairman and CEO bribed ex-Prime Minister Ivo Sanader to acquire control over Mol’s investment in Croatia – a charge for which Croatian courts have convicted both.”

The Queritius team was led by Partner Daniel Dozsa.

The Wolf Theiss team included Partner Dalibor Valincic, Senior Associate Ana Grubesic, and Associates Lucia Mocibob and Borna Dejanovic.

The Mol Group’s in-house team was led by Pal Kara and Sandor Rezman.

Clifford Chance, Selih & Partnerji, and Divjak Topic Bahtijarevic & Krka have advised Ceska Sporitelna and Ceskoslovenska Obchodni Banka on the refinancing of Kofola. Onisko & Holesova, Planinic Soljic & Partners, and solo practitioner Klemen Ticar advised Kofola.

According to Clifford Chance, the transaction covered “the existing financing for Kofola CeskoSlovensko and several of its subsidiaries, including the accession of a new borrower, the Slovenian company Radenska. The banks made available a new credit line of up to CZK 1 billion to Kofola CeskoSlovensko for its future investments and growth in the Czech Republic, Slovakia, and other countries, and implemented a more efficient and flexible management structure of the currency risk.”

Kofola CeskoSlovensko is a manufacturer and distributor of soft drinks in the Czech Republic and Slovakia. Its signature product, Kofola, was created in 1960.

Clifford Chance’s team included Partner Milos Felgr, Senior Associates Hana Cekalova and Stanislav Holec, Associate Bara Becvarova, and Junior Lawyer Anna Kalasnikovova.

The Selih & Partnerji team included Partner Blaz Ogorevc, Attorney Lidija Zupancic, and Associate Blaz Murko.

DTB’s team included Senior Partner Damir Topic, Attorney Dina Salapic, and Trainees Lorean Micik and Jure Marovic.

The Onisko & Holesova team included Partner Jakub Onisko and Attorney Katerina Sramkova.

The Planinic Soljic & Partners team included Partner Kresimir Planinic and Lawyer Ante Mestrovic.

Cobalt has advised vehicle parts distributor Meko on its EUR 122 million acquisition of spare parts and services provider Koivunen.

“I am very pleased that we have managed to complete the acquisition this early and we will now start working with extracting the synergies and efficiency projects,” Meko CEO Pehr Oscarson commented. “The acquisition of Koivunen is in line with our well-proven strategy to create value through carefully selected acquisitions, as we have previously done in Sweden, Norway, Denmark, and Poland. Koivunen is a prosperous company with strong brands that will continue to develop in its existing company structure as its own business area. With Koivunen in Meko, we take a clear step towards the goal of being the best and most comprehensive partner for everyone who owns and services vehicles in Northern Europe.”

Koivunen is an automotive spare parts and related services provider in Finland, Estonia, Latvia, and Lithuania. Meko is a Nasdaq Stockholm-listed spare parts distributor in Northern Europe.

The Cobalt team included Estonia-based Partner Martin Simovart, Managing Associate Jesse Kivisaari, and Associate Getter Villmann, Latvia-based Partner Guntars Zile and Senior Associate Diana Zepa, and Lithuania-based Partner Juozas Rimas and Managing Associate Deimante Pagiriene.

Cobalt was unable to disclose further information about the deal.

Linklaters and Paksoy have advised the Qatar Investment Authority on the acquisition of an approximately 20% interest in the D.ream International fine dining group from parent company Dogus Group, a Turkish conglomerate.

The Qatar Investment Authority is Qatar’s sovereign wealth fund.

The Linklaters team included Warsaw-based Partner Daniel Cousens, Counsel Christopher Quinn, and Associate Michal Wolangiewicz.

The Paksoy team included Partner Elvan Aziz, Senior Associate Hazal Korkmaz, and Associate Tugcan Akalin.

Linklaters was unable to disclose further information on the deal.

ODI Law has advised Gorenjska Banka and SKB Banka on a cross-border syndicated project financing and debt refinancing for the Don Don Group. Selih & Partnerji advised Don Don.

The Don Don Group is a regional industrial bakery with plants in Slovenia, Croatia, Serbia, and Montenegro and sales companies also established in Bosnia and Herzegovina, Romania, and Bulgaria.

Gorenjska Banka is AIK Banka’s Slovenian entity. SKB Banka is OTP’s Slovenian entity.

According to ODI Law, “regular challenges in Don Don’s business include the need to follow consumer preferences, apply the latest techniques, and deal with fluctuating wheat prices. The establishment of an automated production line in Subotica is Don Don’s response to the current situation.”

The ODI Law team was led by Slovenia-based Partner Suzana Boncina Jamsek and included Serbia-based Partner Milkica Preradovic.

The Selih & Partnerji team was led by Partner Mia Kalas.

Sorainen has advised IK Partners and the Renta Group on the acquisition of the Uprent Group.

According to Sorainen, “the acquisition marks a continuation in Renta’s strategy to be a leading equipment rental company in Northern Europe. With this acquisition, Renta enters specialized pumping, which is an attractive and sizeable rental niche, especially in Poland and the Baltics, where pumping is typically required on construction sites due to wet soil conditions. Geographically, Renta strengthens its position in Poland and gains entry to the Baltics, further broadening its presence in Northern Europe.”

Renta is a Finnish machinery and equipment rental company with operations in Finland, Sweden, Norway, Denmark, and Poland, with over 100 depots and more than 1,000 employees.

IK Partners is a London-headquartered private equity firm focused on investments in Benelux, DACH, France, the Nordics, and the UK.

Uprent is a Latvia-headquartered specialized pumping company in the Baltics and Poland, providing dewatering and bypass solutions for construction, water management, and manufacturing companies, as well as dredging and trench shoring solutions.

“We consider specialized pumping a highly attractive niche rental segment, where Uprent is the clear market leader in the Baltics and Poland,” Renta Group CEO Kari Aulasmaa commented. “We are very delighted to join forces with this high-quality company where we see a talented team and significant further growth potential.”

”We are genuinely glad to become a part of the Renta Group, which adheres to the highest operational standards and has ambitious future plans,” Uprent Group CEO Martins Egle added. “We consider this transaction as a high evaluation of our success until today. Being aligned with the Renta Group in the future provides us with excellent opportunities to expand geographically and to further develop our product range, technical capabilities, and professional expertise.”

The Sorainen team was led by Latvia-based Country Managing Partner Eva Berlaus, Lithuania-based Counsel Jonas Kiauleikis, and Estonia-based Counsel Piret Lappert and included Latvia-based Senior Associates Maris Simulis, Liva Aleksejeva, and Zane Akermane, and Associates Ieva Zarina, Kate Berlaus, and Alise Igale, Lithuania-based Senior Associate Matas Maciulaitis, and Estonia-based Counsel Pirkko-Liis Harkmaa, Senior Associates Britta Retel and Nele Suurmets, Associates Kadri Puu and Liisa Kuuskmaa, and Senior Practice Group coordinator Eva-Maria Kullamae.

Sorainen did not respond to our inquiry on the matter.

Cobalt has successfully represented AirBaltic and the Riga International Airport before the Supreme Court of Lithuania against antitrust claims brought by bankrupt carrier FlyLAL.

“After almost 14 years of proceedings in Vilnius, Riga, and Luxembourg and after more than 40 court hearings, the endpoint has been reached in this case,” Cobalt Partner Rimantas Simaitis commented.

According to Cobalt, in 2008, FlyLAL and its shareholders brought a claim seeking damages amounting to approximately EUR 140 million. “FlyLAL claimed damages from the Latvian companies in the context of an alleged agreement on lower fares at Riga International Airport and a conspiracy to eliminate FlyLAL from the relevant flight markets in Lithuania.”

“This case was one of the first in Lithuania to deal with standalone claims for damages for alleged violations of European Union and national competition rules,” Cobalt Partner Rasa Zasciurinskaite said. “AirBaltic, together with the Riga International Airport, had to defend itself not only against claims for damages but also against accusations that AirBaltic had engaged in predatory pricing in Lithuania and participated in a prohibited agreement with the Riga International Airport.”

The Cobalt team included Lithuania-based Simaitis and Zasciurinskaite, Partner Marius Inta, and Senior Associate Vaidas Kontrimas, as well as Latvia-based Partners Ugis Zeltins and Sandija Novicka and Senior Advisor Girts Lejins.

Dentons has advised the Dr. Max Group on its EUR 940 million loan for the refinancing of its bank debt and further growth. UniCredit Bank Czech Republic and Slovakia and Komercni Banka led the 14-bank strong consortium. White & Case advised the banks.

The Dr. Max Group is a Prague-headquartered pharmacy chain operating in Central and Eastern Europe. The company has over 2,200 pharmacies in six countries, including the Czech Republic, Slovakia, Poland, Romania, Serbia, and Italy.

“With this refinancing, reflecting the realized growth and future growth potential, Dr. Max has collected the financial means to further develop and continue the successful rollout of Dr. Max’s omnichannel customer value proposition which is pretty much appreciated by our patients and customers every day,” commented Dr. Max CFO Thomas Bornemann.

Dentons’ team was led by Slovakia-based Partner Patricia Gossanyiova and included Romania-based Partner Simona Marin, Counsel Oana Ionascu, Lawyer Lawrence Florescu, and Associate Isabela Gheorghe.

White & Case’s team included Partner Tomas Jine and Associates Radek Kraus and Vinh Ngo The.

Baker McKenzie has advised Argo-Hytos Group owners Christian Kienzle and FSP Capcellence on selling a 79.5% stake in Argo-Hytos to the Voith Group.

Closing is expected in August 2022, pending regulatory approval.

Switzerland-based Argo-Hytos develops and produces hydraulics and system solution components with a focus on the off-highway sector, including agricultural tractors, construction equipment, and material-handling vehicles.

Founded in 1867, the Voith Group is a technology company manufacturing machines for the pulp and paper industry, technical equipment for hydropower plants, and drive and braking systems. The group also offers services and digital applications and has locations in more than 60 countries.

According to Baker McKenzie, “Argo-Hytos will continue as an independent brand with the addition of ‘a Voith Company.’ The further participation of the two previous owners sends a strong signal that Argo-Hytos will consistently and continuously pursue its successful path in a new ownership structure.”

“By combining the competencies and resources of Argo-Hytos and Voith, we want to offer our customers significant added value,” Argo-Hytos CEO Erich Hofer commented. “In addition to the successful continuation of the previous growth strategy of Argo-Hytos, our primary focus is on the joint development of customer solutions in the megatrend areas of electrification, digitalization, and sustainability.”

The Baker McKenzie team was led by Switzerland-based Partner Alexander Fischer, Counsel Matthias Trautmann, and Associate Eva Kriechbaumer, and included Czech Republic-based Partner Tomas Skoumal, Associates Petra Jilgova-Benesova, Vlastimil Kreysa, Marek Disman, Michal Simcina, Dusan Hlavaty, Jonas Kozak, Jan Venc, and Timoteus Hudcovic, and Paralegal Michaela Sturmova, Poland-based Associate Pawel Jaros and Trainee Lawyer Anna Pawluczuk, as well as teams from the Netherlands, the US, China, Germany, the UK, France, Sweden, Turkey, and Italy.

Baker McKenzie was unable to disclose further information on the deal.