Category: Deals and Cases

Kinstellar has advised 365.invest on its acquisition of three shopping center projects from the CPI Property Group. Rybar, Soppe & Partners reportedly advised the seller.

According to the firm, the acquired portfolio includes the IGY Ceske Budejovice, OC Gecko, and City Park Jihlava shopping centers, located in the Czech Republic.

365 Bank Group company 365.invest is a Slovak management company providing online investment opportunities.

Founded in 1991, the CPI Property Group is a Luxembourg-headquartered company that owns income-generating real estate in Berlin, Prague, Warsaw, and other European cities.

The Kinstellar team was led by Partner Jan Juroska and included Managing Associate Michal Kniz, Associate Marketa Skvorova, and Junior Associate Denisa Simanska.

The Karmen Rebesco law firm has advised mandated lead arrangers Nova Ljubljanska Banka and Privredna Banka Zagreb on the provision of a EUR 200 million syndicated loan to Petrol Ljubljana. Jadek & Pensa and Ulcar & Partners advised Petrol Ljubljana on the deal.

According to Karmen Rebesco, “the transaction was structured as fully underwritten. The banking syndicate consisted of NLB as the agent and original lender, as well as Banka Intesa Sanpaolo, Privredna Banka Zagreb, SID Bank, SKB Banka, and UniCredit Banka Slovenija as original lenders.”

Petrol Ljubljana is a Slovenian company engaged in the provision of oil and other energy products, operating subsidiaries in Slovenia, Austria, Bosnia and Herzegovina, Croatia, Serbia, Montenegro, and North Macedonia, among others. The loan, according to Karmen Rebesco, is for “the purposes of financing the acquisition of … Croatian company Crodux Derivati Dva. Petrol thus consolidated its position as the second-largest provider of petroleum products in Croatia.”

Jadek & Pensa’s team was led by Partner Andraz Jadek.

Ulcar & Partner’s team included Managing Partner Matjaz Ulcar and Senior Associates Blaz Princic and Maja Ivanovic.

Dentons has advised a club of banks led by Erste Group Bank on the refinancing of the Tristone Flowtech Group. Freshfields Bruckhaus Derringer reportedly advised Tristone Flowtech.

According to Dentons, “The Tristone Flowtech Group is a leading global supplier of engine and battery cooling to the automotive sector. It has operations in China, the Czech Republic, France, Germany, India, Italy, Mexico, Poland, Slovakia, Spain, and Turkey.”

Dentons’ team included Prague-based Partner Daniel Hurych and Associate Ondrej Vales, Bratislava-based Partner Patricia Gossanyiova and Associates Richard Marcincin and David Stanek, Warsaw-based Partner Bartosz Nojek and Associate Natalia Skomorowska, and Istanbul-based Senior Associate Ceyda Aydin.

Editor’s Note: After this article was published, PRK Partners announced that it worked with Freshfields to advise on Czech and Slovak aspects of the EUR 80 million refinancing.

Paksoy advised Tristone as well, with a team including Partner Sera Somay, Senior Associate Beril Paksoy, and Associate Bulent Ozturk.

Additionally, Wardynski & Partners contacted CEE Legal Matters to inform of its advisory to Tristone as well, The firm’s team included Partner Lukasz Szegda, Senior Associate Mateusz Tusznio, and Associate Filip Kurys.

Freshfields Bruckhaus Deringer, Boyanov & Co, and Filip & Company have advised Borealis on a binding offer from EuroChem for its nitrogen business. Hogan Lovells, PHH Rechtsanwalte, and Mishcon de Reya advised the EuroChem Group. Savoric & Partners, Oppenheim, and PRK Partners reportedly also advised Borealis.

According to Freshfields, EuroChem “intends to acquire Borealis’ nitrogen business, which includes fertilizer, melamine, and technical nitrogen products and is valued at EUR 455 million under the terms of the offer.”

Closing is expected in the second half of 2022, pending regulatory approval.

Borealis is a Vienna-headquartered circular polyolefin solutions provider, specializing in base chemicals, fertilizers, and the mechanical recycling of plastics. The company employs 6,900 employees and operates in over 120 countries.

EuroChem is a global fertilizer producer, manufacturing nitrogen, phosphates, and potash. The Group has manufacturing facilities in Russia, Belgium, Kazakhstan, and Lithuania, and a product reach of more than 100 countries.

“The addition of the Borealis nitrogen business to our portfolio, once approved, will strengthen our foothold considerably in such a key market as Europe,” EuroChem CEO Vladimir Rashevskiy commented.

The Freshfields team included Vienna-based Partners Farid Sigari-Majd, Bertram Burtscher, Karin Buzanich-Sommeregger, and Stephan Denk, Principal Associates Daniel Lungenschmid, Gernot Fritz, Leonhard Prasser, Kathrin Wildmoser-Zeller, and Katharina Kubik, and Associates Maria Tumpel, Estella Dannhausen, Luca Mischensky, Anna Binder-Gutwinski, and Can-Michael Nural, as well as Munich-based Partner Barbara Keil and Associates Thomas Hornberger and Jan Postweiler, Paris-based Partner Gwen Senlanne and Counsel Tanguy Bardet, Brussels-based Partner Thomas Wessely and Principal Associate Laurent Bougard, and Hamburg-based Counsel Sascha Arnold.

The Boyanov & Co team included Partner Yordan Naydenov and Counsel Mihail Vishanin.

The Filip & Company team included Partner Alexandru Birsan and Associate Simona Ungureanu.

The Hogan Lovells team was led by London-based Partner Georgy Kalashnikov and Senior Associate Pasan Wijesuriya and included Poland-based Senior Counsel Marek Wroniak, Counsel Tomasz Zak, and Lawyer Michal Bialobrzeski and Hungary-based Associated Partner Christopher Noblet and Associate Dora Szilas, as well as UK-based Partner Jamie Rogers, Counsel Oliver Wilson, Senior Associates Katie Dunn and Ellie Rees, and Associates Nick Edwards, Sam Phillips, Alex Miller, Madalina Asandului, and Bea Watts; France-based Managing Partner Xenia Legendre, Partners Xavier Doumen, Dominique Mendy, Mikael Salmela, Patrice Navarro, Marion Guertault, and Christelle Coslin, Counsel Laure Nguyen, Senior Associates Maimouna Goudiaby, Julie Schwartz, and Clea Dessault, Associates Hortense Le Dosseur, Etienne Barjol, Margot Derumaux, Jessica Clemens-Jones, Sophie Han, Josephine Beaufour, Ilan Orenstain, and Thomas Gluzman, and Attorney-at-Law Gaylor Felix; Germany-based Partners Nikolas Zirngibl, Martin Gunther, Florian Unseld, Stefan Schroeder, Kerstin Neighbor, and Martin Pfluger, Counsel Marion Fischer, Senior Associates Thiemo Woertge, Golo Edel, and Tim Hinrichsen, Lawyer Lukas Claasen, and Associates Kilian Pfahl, Dominik Lang, Dennis Rein, Marie Rohrbach, Finn Poll-Wolbeck, Rebecca Reinhardt, and Charlotte Baecker; Italy-based Partners Francesca Angeloni and Leah Dunlop, Counsel Gaia Gelera, Senior Associate Simone Cucurachi, and Associates Stefano Maccauro and Anastasia Pallagrosi; and Belgium-based Partner Lourdes Catrain, Senior Associate Raphael Fleischer, and Associates Stephanie Seeuws and Sean Jonckheere.

The PHH Rechtsanwalte team included Partners Stefanie Werinos-Sydow, Julia Fritz, Nicolaus Mels-Colloredo, and Sebastian Mahr, Counsels Philip Rosenauer, Martina Gatterer, and Daniela Olbrich, Senior Associates Matthias Fucik, Sandra Kasper, and Wolfgang Guggenberger, Associates Theresa Karall, Ramona Maurer, Michael Lins, Fabian Puschner, and Dominic Zehetgruber, and Tax Consultant Andreas Baumann.

The Mishcon de Reya team included Partner Neil Baylis, Associates Amber Jeral, Alex Jennings, and Gwen Ballin-Reeler, and Trainee Solicitor Sophie Leppington.

Divjak Topic Bahtijarevic & Krka has advised Turkey’s Havas Ground Handling on its acquisition of MZLZ Ground Handling Services in Croatia.

MZLZ Ground Handling Services is the sole provider of ground handling services at Zagreb International Airport.

Havas Ground Handling is a Turkey-based ground handling company.

The Divjak Topic Bahtijarevic & Krka team was led by Partner Marina Krka.

The firm did not reply to our inquiry on the matter.

DRV Legal has advised Jet Investment company Jet 2 Kappa on its acquisition of the EDS Group from DPE Deutsche Private Equity. Clifford Chance advised DPE.

Founded in 1992, the EDS Group, also operating as Euro-Druckservice, is a European print service provider focusing on Central and Eastern Europe. The company operates in Germany, the Czech Republic, Poland, Hungary, and Romania, with 1,500 employees and a turnover of around EUR 300 million.

Jet Investment is a Czech-based private equity investment company.

DPE is a German investment company that invests in small and medium enterprises in Germany, Austria, and Switzerland.

“The acquisition of the EDS Group perfectly matches our investment thesis in central Europe,” JET Investment Partner Marek Malik commented. “We expect that active, locally rooted ownership together with hands-on management and a new capital structure of the EDS Group will contribute to its further growth and strengthening of the position in the region.”

The DRV Legal team included Partners Tomas Rada and Tomas Antal and Associates Vaclav Koubik and Vit Brejsa.

The Clifford Chance team included Munich-based Partner Nicole Englisch and Associate Annika Ascher, Frankfurt-based Partner Olaf Mertgen, and Dusseldorf-based Partner Dimitri Slobodenjuk and Senior Associate Arne Gayk.

Binder Groesswang has advised Gittis Naturprodukte on the acquisition of the Sunray company and its production plant in Mirna from Atlantic Droga Kolinska in Slovenia.

According to the firm, “Gittis plans the long-term operation of the Mirna production plant and investments in new technology as well as the retention of its employees.”

Founded in 1957, Gittis is a family-owned Austrian company producing baby food, cereals, and bars.

Atlantic Droga Kolinska is a multinational food and beverage corporation with companies in eight countries and 16 production facilities.

The Binder Groesswang team was led by Partner Michael Kutschera and included Partner Philipp Kapl and Associate Alexander Scharkosi.

Sorainen has advised Tomra on its implementation of a packaging deposit system in Latvia, following a tender procedure. Reportedly, LinkLaw advised Tomra on Estonian law matters.

Tomra, the supplier of the reverse vending technology for the new bottle and can recycling program, “develops innovative solutions across the world for the return of empty beverage containers,” Sorainen informed. “From February 1, 2022, residents in Latvia will be able to deposit glass, plastic, and metal beverage containers.”

Sorainen’s team included Counsel Raivo Raudzeps, Senior Associates Natalija Gravele, Linda Reneslace, Zanda Frisfelde, and Maris Simulis, and Associates Zane Akermane and Elvis Grinbergs.

B2RLaw has advised B+N Referencia on its acquisition of Inwemer. Reportedly, the Gabriela Krauze Law Firm advised the shareholders of Inwemer on the deal.

B+N Referencia is a Hungarian facility management company.

According to B2RLaw, “Inwemer has been a dominant player in the facilities management industry in Poland since 1992. With its 7,000 workers, the firm offers services for more than 750 customers with 5.5 million square meters of managed areas. The acquisition of Inwemer creates a business which provides services in six key countries of the CEE region, covering 15 million square meters of managed areas, with 18,000 workers.”

B2RLaw’s team included Partners Aleksandra Polak, Anna Cichonska, and Marcin Huczkowski, Counsels Malwina Niczke-Chmura, Luiza Wyrebkowska, and Filip Badziak, Senior Associate Radoslaw Minh Nguyen, and Associates Krystyna Jakubowska, Joanna Markowicz-Maciocha, and Radoslaw Kowalski. 

Karanovic & Partners has advised Abris Capital Partners and Patent Co. founders Radivoje Perovic and Miodrag Perovic on the sale of Patent Co. to RWA Raiffeisen Ware Austria. JPM Jankovic Popovic Mitic advised Patent Co.’s founders as well. Wolf Theiss advised RWA.

According to Karanovic & Partners, “Patent Co. is the leading animal nutrition business in Central and Eastern Europe, and a global provider of animal nutrition solutions, including patented high value-add feed additives. It employs around 250 staff across facilities in Southeast Europe.”

RWA is the wholesale company and service provider of the Lagerhaus cooperatives in Austria. It focuses on agricultural products and inputs, energy, building materials, home & garden, agricultural machinery and spare parts, as well as providing related business services.

Karanovic & Partners’ team was led by Senior Partner Dragan Karanovic and Partner Milos Jakovljevic.

JPM’s team included Partners Nikola Poznanovic, Jelena Stankovic, Djordje Novcic, and Nikola Djordjevic.

The Wolf Theiss team was led by Vienna-based Partner Christian Mikosch and Belgrade-based Partner Andjelka Todorovic and included Belgrade-based Partner Miroslav Stojanovic, Counsel Vidak Kovacevic, Senior Associate Marko Tesanovic, and Associates Jovan Micovic and Tatjana Radivojevic, Sarajevo-based Partner Naida Custovic, Senior Associate Ilma Kasumagic, and Associates Lamis Kulenovic, Alija Genjac, and Ajla Delic, and Sofia-based Counsel Hristina Dzhevlekova.