Category: Deals and Cases

Clifford Chance has advised UniCredit Bank Czech Republic and Slovakia on the refinancing of the existing financial indebtedness of the Mattoni 1873 group. 

The value of the transaction was EUR 260 million.

According to Clifford Chance, “initially, UniCredit acted as the sole underwriter in the transaction but was later, still in the pre-signing phase, joined by Ceska Sporitelna and Ceskoslovenska Obchodni Banka.”

Mattoni 1873 group is a producer of soft drinks in Central Europe that expanded via acquisitions to South Europe in recent years. It produces its own brands of traditional mineral waters – Mattoni, Szentkiralyi, and Knjaz Milos – and produces and distributes brands of soft drinks and snacks, such as Pepsi, Mirinda, Lipton, Schweppes, and Lay’s.

The Clifford Chance team included Partner Milos Felgr, Senior Associate Dominik Vojta, and Junior Lawyer Tomas Kubala.

Clifford Chance could not provide additional information on the matter.

Editor’s Note: After this article was published, Kocian, Solc, Balastik announced it had advised Mattoni 1873 on the deal. The firm’s team included Partner Martin Krejci and Counsel Ivo Prusa.

Deloitte Legal’s Krehic & Partners has advised sellers Tomislav Plesa and Domagoj Makar on the sale of their shares in Heloo to TaskUs. Wolf Theiss, working with Simpson Thacher & Bartlett, advised the buyer.

Heloo, formerly known as Q Experience, is a Zagreb-headquartered customer support outsourcing company providing digital customer experience solutions to European technology companies.

TaskUs is a US provider of outsourced digital services and customer experience to technology companies.

The Krehic & Partners team was led by Partner Ivan Zornada and included Managing Partner Tarja Krehic and Associate Jelena Kraljevic.

The Wolf Theiss team was led by Partner Luka Tadic-Colic and included Partner Dora Gazi Kovacevic, Counsel Josip Martinic, Senior Associates Lucia Mocibob and Nevena Skocic, Associates Marija Lalin, Berislav Draskovic, Ana Slovenec, Benjamin Sadric, and Mateja Jelacic, and Consultant Ira Peric Ostojic.

Doklestic Repic & Gajin has advised Beijing New Building Materials Plc on the transaction with the Coal Mine and Thermal Power Plant Ugljevik for the creation of a EUR 50 million gypsum board joint venture. China’s Shihui Partners reportedly advised BNBM on the deal as well.

BNBM is a Chinese gypsum board company that was established 43 years ago. It currently has nearly 80 gypsum board production lines in China, Tanzania, Uzbekistan, Egypt, and Thailand, with a production capacity of about 3 billion square meters.

The Coal Mine and Thermal Power Plant Ugljevik (RiTE) is a subsidiary of state-owned utility company Elektroprivreda Republike Srpske.

According to DR&G, the joint venture “envisages the establishment of a joint venture company in Ugljevik, Republika Srpska, Bosnia and Herzegovina, which will be co-owned by BNBM (90%) and RiTE (10%). The company will build a factory for the production of gypsum board construction products. The annual output of the factory is projected to be 40 million square meters of gypsum boards … The factory will consume the gypsum obtained from the flue gas desulfurization systems of RiTE and is expected to employ around 100 workers.”

According to the firm, “more than 90% of the gypsum board products will be exported to meet the demand for gypsum board products in the European market.”

DR&G’s team was led by Partner Slobodan Doklestic and included Partners Marko Repic, Ljubinka Pljevaljcic, and Milos Pandzic, Senior Associate Aleksandra Stojanovic, and Attorney Bojan Peulic.

Wolf Theiss and Yavuz & Uyanik & Akalin have advised 4iG Nyrt on the acquisition of an 80.27% stake in AlbTelecom from a subsidiary of Turkey’s Calik Holding. Tashko Pustina reportedly advised the sellers. The deal was cleared by the Albanian Competition Authority on March 4, 2022.

Following 4iG’s subsequent acquisition of One Telecommunications (as reported by CEE Legal Matters on April 5, 2022), Wolf Theiss advised 4iG on obtaining Albanian merger clearance.

4iG Nyrt is a Hungarian stock exchange-listed IT and Technology group.

AlbTelecom is a landline voice, internet, and TV provider in Albania. One Telecommunications is an Albanian mobile telecom operator.

Calik Holding is a Turkish privately held industrial group.

“We are pleased that AlbTelecom is now owned by a strategic investor committed to the company,” commented Calik Holding President Ahmet Calik. “By taking this opportunity, I would like to thank all employees of AlbTelecom for their efforts and dedication and we are confident that AlbTelecom will continue to achieve remarkable successes.”

Earlier this year, Wolf Theiss won the 2021 Deal of the Year award for Albania for this very transaction (as announced by CEE Legal Matters on April 7, 2022).

Wolf Theiss’ team included Sofia-based Partner Richard Clegg and Consultant Irina Dekova, Hungary-based Counsel Norbert Balint, and Albania-based Partner Sokol Nako and Associate Kristaq Profkola.

The Yavuz & Uyanik & Akalin team included Of Counsel Ali Can Kolay.

Wolf Theiss did not reply to our inquiry on the matter.

Stratulat Albulescu has advised Al start-up Druid on its USD 15 million series A financing round led by Karma Ventures and Hoxton Ventures. Cobalt advised Karma Ventures. Orrick Herrington & Sutcliffe reportedly advised Druid as well. Hoxton was reportedly advised by Mintz, Levin, Cohn, Ferris, Glovsky and Popeo.

According to Cobalt, the lead investors were “joined by GapMinder and four other investors from Germany, Switzerland, Poland, and Romania.”

“The new funding will be used to accelerate the company’s international expansion and footprint by actively hiring new talent and increasing platform versatility,” Stratulat Albulescu informed.

Founded in 2018, Druid is a Romanian start-up that offers a no-code enterprise conversational Al platform.

Karma Ventures is a venture capital firm that specializes in late seed and A-round investments in Europe’s technology start-ups.

The Stratulat Albulescu team was led by Managing Partner Silviu Stratulat and included Senior Associate Vlad Sandulescu and Associates Roxana Ioncu and Adina Popescu.

The Cobalt team included Partner Kristel Raidla-Talur, Counsel Greete-Kristiine Kuru, Associate Johanna Lumiste, and Assistant Lawyer Marit Raatma.

BDK Advokati has advised the sellers on the sale of Termoplast Grupa to Greiner Packaging. Divjak Topic Bahtijarevic & Krka and Selih & Partnerji reportedly advised the sellers as well.

Greiner Packaging International is an Austria-headquartered group specializing in packaging processing. Termoplast Grupa holds a 49% stake in Greiner Packaging Slovenia, a SEE plastic packaging producer with two production plants in Serbia.

The BDK Advokati team included Senior Partner Vladimir Dasic and Senior Associate Jelena Zelenbaba.

BDK Advokati did not respond to our inquiry on the matter.

Clifford Chance has advised Norsk Hydro on its tender offer for the purchase of Alumetal. Lakatos, Koves, and Partners reportedly advised Norsk Hydro on Hungarian law-related matters. Penteris reportedly advised Alumetal.

The transaction remains contingent on regulatory approval and Hydro gaining control of a minimum of 66% of total Alumetal shares outstanding. The subscription period for the tender offer is expected to commence on June 13, 2022, and expire on July 12, 2022. According to a company press release, “Hydro has concluded an agreement with two members of the Alumetal Supervisory Board and all members of the Alumetal Management Board, in total holding approximately 39% of the company’s shares, who have undertaken to submit subscriptions in the tender offer for all their shares at the offer price.”

“The transaction implies an enterprise value of approximately PLN 1.332 billion based on the latest reported net debt for fiscal year 2021 and dividends payable of PLN 106 million, with the dividend payment date falling on July 27, 2022,” Clifford Chance informed. “The transaction will strengthen Hydro’s recycling position in Europe and widen its product offering in the low-carbon and scrap-based foundry alloy market.”

Norsk Hydro is an Oslo-headquartered aluminum and energy company, providing services for a range of market segments for aluminum, energy, metal recycling, renewables, and batteries.

Alumetal is a Warsaw Stock Exchange-listed Polish company producing casting aluminum alloys in Europe, with plants in Poland and Hungary.

“An acquisition of Alumetal is an exciting step towards delivering on our recycling strategy,” Hydro Aluminium Metal Executive Vice President Eivind Kallevik commented. “We have been impressed by the development of the company over time, and by the quality of production, modern assets, and the competence of management and employees. We look forward to bringing Alumetal into the Hydro family and joining forces to develop an even better offering of low-carbon recycled aluminum to our customers in the years to come.”

The Clifford Chance team was led by Counsel Jaroslaw Lorenc and included Associates Katarzyna Aleksandrowicz and Krzysztof Regucki.

Editor’s Note: After this article was published, Penteris confirmed it had advised Alumetal. The firm’s team included Partners Wojciech Fabrycki and Tomasz Kudelski, Senior Associate Malgorzata Motyl, and Associate Aleksandra Rogalska.

Clifford Chance has advised the Green Group on a EUR 127 million financing from a syndicate of banks. Filip & Company advised the lenders. Linklaters reportedly advised the lenders as well.

The banking syndicate included Banca Comerciala Romana, ING Bank, OTP Bank Romania, Raiffeisen Bank, and UniCredit Bank. The financing agreement involved nine Green Group companies in four jurisdictions, including Romania, Slovakia, and Lithuania.

According to Clifford Chance, the Green Group “will use these funds for refinancing, acquisitions, and investments in ‘green’ projects, so as to consolidate and expand its activity in the region.”

The Green Group specializes in waste management, recycling, and waste recovery, with operations in Romania and Central and Eastern Europe.

The Clifford Chance Badea team included Counsel Cosmin Anghel, Senior Associate Madalina Mailat, and Lawyer Mihai Dolhescu.

The Filip & Company team was led by Partners Alexandra Manciulea and Ioana Roman and included Senior Associates Rebecca Marina and Camelia Iantuc and Associate Andreea Dinu.

Rymarz Zdort has provided pro bono legal advice to the Save the Children International Foundation on the establishment and registration of its Polish operations.

“The goal of the Save the Children International Foundation established in Poland will be to protect the lives, health, and well-being of children who have been harmed or placed in danger as a result of the current conflict in Ukraine,” Rymarz Zdort informed.

Established in 1919, Save the Children International is a London-based non-profit international humanitarian organization. The foundation operates in 122 countries.

The Rymarz Zdort team included Partners Iwona Her, Marek Maciag, and Lukasz Gasinski, Counsels Jakub Krzemien, Katarzyna Lukaszewicz, and Marek Kanczew, Senior Associates Szymon Cieniawski, Artur Ciechomski, and Krzysztof Rembierz, Associates Kamil Klopocki, Piotr Kasperkiewicz, and Patryk Modrakowski, Junior Associates Filip Goledzinowski and Lidia Bronicka, and Paralegal Adam Drgas.

Motieka & Audzevicius has advised the sellers on the EUR 84 million sale of Lithuanian startup MailerLite to Polish technology company Vercom. Gessel and Ellex advised the buyer.

MailerLite is a global supplier of email communication tools for business customers. The company has activities in most countries in the world, with a focus on the US.

Poland’s Vercom is a listed technology company providing cloud solutions in the CPaaS model and building cloud communications platforms.

“Upon acquisition, the group plans to significantly accelerate the business growth and dynamically scale up operations and finances across global markets,” Motieka & Audzevicius informed. “It is anticipated that the number of customers will triple from approximately 19,000 to around 57,000, located in 180 different markets.”

The Motieka & Audzevicius team included Partners Giedrius Kolesnikovas and Rokas Jankus, Senior Associate Aivaras Grigas, and Associates Darius Amsiejus and Laurynas Ramonas.

The Gessel team was led by Partner Karol Sokol, Associate Dominik Kaszuba, and Junior Associate Pawel Plisko and included Partner Krzysztof Marczuk, Of Counsel Inarda Bielinska, Managing Associate Karolina Krzal-Kwiatkowska, Senior Associates Michal Wielinski and Michal Bragiel, and Associate Jakub Rowicki.

The Ellex team consisted of Partner Olga Petroseviciene, Associate Partners Rapolas Kasparavicius and Azuolas Cekanavicius, Senior Associates Mantas Juska and Arvydas Gruseckas, and Associates Edvinas Dzulis and Marijus Dingilevskis.