Category: Deals and Cases

Hillmont Partners and Astraea have advised on a settlement between the Stati Parties and the Republic of Kazakhstan in a dispute concerning a 2013 USD 500 million SCC Award, bringing all related litigation to an end.

The Stati Case commenced in 2010 when the Stockholm Chamber of Commerce initially considered a claim filed by a consortium of companies owned by Moldovan businessman Anatol Stati and his son Gabriel against the Kazakh government for the unlawful seizure of their business interests. In December 2013, the arbitration tribunal issued a ruling in favor of the Stati parties, demanding that Kazakhstan pay USD 500 million in damages, along with associated legal expenses. However, the Kazakh government declined to honor this ruling.

According to Astraea, the agreement concludes a three-year enforcement battle with litigation linked to the case now terminated.

The Hillmont Partners team included Managing Partner James Hart.

White & Case has advised TPG Real Estate on the EUR 470 million sale of CT Real Estate to funds managed by Blackstone. Schoenherr, working with Simpson Thacher & Bartlett, advised Blackstone. Talers reportedly advised TPG Real Estate as well.

Blackstone is an alternative asset manager with more than USD 1.1 trillion in assets under management.

Established in 1992, TPG is an alternative asset manager with USD 239 billion in assets under management.

CTRE is a portfolio of ten logistics parks located in the Czech Republic and Slovakia. According to White & Case, CTRE’s portfolio, which initially began in 2019 with a EUR 90 million investment in partnership with local landlord Contera, has since quadrupled to approximately 500,000 square meters of strategically located logistics facilities. 

The White & Case team included Partners Petr Panek, Vaclav Kubr, and Jan Linda, Local Partner Karel Petrzela, Counsels Magda Olysarova and Vladimir Ivanco, and Associates Barbora Vaculova and Katerina Hudeckova.

The Schoenherr team included Partners Vladimir Cizek, Sona Hekelova, and Michal Lucivjansky, Counsels Otakar Fiala, Zuzana Hnatova, and Peter Devinsky, Senior Attorneys at Law Jiri Marek, Petr Koral, and Jan Kupcik, Attorneys at Law Sebastian Speta, Kristyna Zmatlikova, Pavel Bederka, Katerina Leheckova, Natalie Dubska, Karolina Hlavinkova, Ales Prochazka, Jan Farbiak, and Tomas Silhanek, and Associates Marek Fuchs, Matus Vajci, Tatana Adamova, and Maria Gabriella Manzone.

Editor’s Note: After this article was published, Ments informed CEE Legal Matters that it advised Contera, who had a partnership with TPG and, following the transaction, has one with Blackstone. The Ments team included Partner Lukas Michalik, Cousel Martin Kosa, and Associate Simon Hora.

Moreover, Talers confirmed its participation on behalf of Contera as well. The firm’s team included Partner Jiri Cerny, Attorneys at Law Helena Jurka and Jan Vozar, and Tax Advisor Lenka Rigo.

Ellex has advised HOF Ehf on the sale of Baltic IKEA stores to Inter IKEA Group. Walless advised FE Corporation, the sellers of the Lithuanian store operator. Sorainen reportedly advised Inter IKEA Group.

The transaction’s financial terms have not been disclosed.

According to Ellex, the deal covers three large IKEA stores in the Baltic capitals, five smaller customer service locations, as well as e-commerce and IT business lines. Under the new arrangement, IKEA will continue operating in the Baltic states under a franchise model, with Inter Ikea Systems as the franchisor. 

The Ellex team included Latvia-based Partner Ilga Gudrenika-Krebs, Senior Counsel Eduards Dzintars, Senior Associates Anna Misneva, Inese Freivalde, and Kaspars Oisevskis and Estonia-based Partner Martin Kaerdi and Senior Associates Karin Tartu, Liisbeth Eero, Alla Kuznetsova.

The Walless team included Partner Gediminas Reciunas.

A&O Shearman and Divjak, Topic, Bahtijarevic & Krka have advised Partners Group on the sale of VSB Group to French energy company TotalEnergies. Jones Day reportedly advised TotalEnergies.

Partners Group operates in global private markets.

VSB Group is a renewable energy platform in Europe. According to A&O Shearman, the transaction gives VSB an equity value of EUR 1.57 billion. “Partners Group acquired a majority stake in VSB in 2020 and has since transformed the company from a mid-sized renewables developer into a leading pan-European renewables platform. Under Partners Group’s ownership, VSB has more than doubled its project pipeline from 8 gigawatts to over 18 gigawatts, significantly expanded its operating and under construction capacity from 53 megawatts to over 475 megawatts today, and diversified across wind and solar PV, battery storage, and e-mobility technologies.”

The DTB team included Senior Partner Damir Topic, Partner Marina Kovac Krka, Senior Attorneys at Law Dina Salapic, Andrej Zmikic, and Jasna Belcic, Attorneys at Law Sanja Novoselic, Barbara Simic, and Jure Marovic, Associate Andrija Duvnjak, and Trainee Josipa Banozic.

The A&O Shearman team included lawyers in Hamburg, Frankfurt, Duesseldorf, Paris, Luxembourg, Warsaw, and Milan.

Editor’s Note: After this article was published, Schoenherr announced that it advised TotalEnergies. The firm’s team included Partners Maximilian Lang, Krzysztof Pawlak, Grzegorz Filipowicz, and Ivan Einwalter, Counsel Marcin Antczak, Senior Attorneys at Law Krzysztof Lesniak and Adam Nowosielski, and Attorney at Law Lea Muzic.

Kocian Solc Balastik and Nitschneider & Partners have advised the Seyfor Group on its acquisition of NCC from its founders. Zahradnik reportedly advised the sellers.

The Seyfor Group is a Czech Republic-based accounting software IT company.

NCC is a Slovakian provider of software for leasing and loans. Its flagship product is the all-in-one information system LeasIt, which manages the complete leasing process from offer to contract termination.

Earlier this year, KSB advised Seyfor on its acquisition of Recruitis.io (as reported by CEE Legal Matters on July 31, 2024), its acquisition of Datacruit (as reported by CEE Legal Matters on July 25, 2024), and its acquisition of Digitask (as reported by CEE Legal Matters on April 2, 2024). KSB also advised the Seyfor Group on its KS-Program acquisition in 2023 (as reported by CEE Legal Matters on December 15, 2023) and, in 2022, on its acquisition of Commander Services (as reported by CEE Legal Matters on December 8, 2022).

The KSB team included Partner Drahomir Tomasuk and Lawyer Jan Beres.

The Nitschneider & Partners team included Partner Peter Marcis, Attorney at Law Marek Bugan, and Junior Associate Henrieta Kaszova.

TGS Baltic has advised INVL Baltic Sea Growth Fund on its acquisition of Pehart Group in Romania from Abris Capital Partners. RTPR advised Abris Capital Partners.

INVL Baltic Sea Growth Fund is a Baltics-based private equity fund with a size of EUR 165 million.

Pehart Group is a tissue paper producer in South-East Europe.

Abris Capital Partners is an independent private equity fund focusing on mid-market opportunities in Central European countries.

“Partnership has always been central to our philosophy, and we’re thrilled at the prospect of collaborating with the Pehart Group’s management team,” commented INVL Baltic Sea Growth Fund Partner Vytautas Plunksnis. “Upon the successful completion of the transaction, Pehart Group will become the tenth portfolio investment of INVL Baltic Sea Growth Fund, marking a significant milestone in completing the fund’s portfolio.”

The TGS Baltic team included Partner Marius Matonis and Senior Associate Ruta Tikuisyte.

The RTPR team included Managing Partner Costin Taracila, Partners Cosmin Tilea and Roxana Ionescu, Counsel Vlad Stamatescu, Managing Associate Andrei Tosa, Senior Associates Marina Fecheta-Giurgica, Cezara Urzica, Diana Dimitriu, and Andreea Nedeloiu, Associate Serban Halmagean, and Junior Associates George Capota, David Mirea, Alexandru Dumitrescu, Irina Marinescu, and Maria Luca.

Schoenherr has advised Siemens Energy Holding on the acquisition of a 76% stake in Slovenia-based Gridpulse from Mosdorfer and C&G Skupina Investiranje in Svetovanje. Advant Beiten reportedly advised the sellers.

No financial details were disclosed.

Siemens Energy offers solutions across power generation, transmission, and storage. 

Gridpulse specializes in line monitoring and rating of overhead lines, aiming to improve the efficiency and reliability of electricity systems.

The Schoenherr team included Slovenia-based Partner Peter Gorse, Vid Kobe, and Matej Crnilec, Attorney at Law Manja Hubman, Associate Zana Zabnikar, and Legal Advisor Borce Malijanski and Austria-based Partners Markus Piuk and Teresa Waidmann and Associate Hanna Elisabeth Kirschner.

Brandl Talos has advised Springtime Technologies on a growth equity investment from Scottish Equity Partners. Nomos advised Springtime as well.

Springtime Technologies is a provider of AI-driven accounts payable automation software.

Scottish Equity Partners is a European growth equity firm.

The Brandl Talos team included Partner Roman Rericha, Attorney at Law Adrian Zuschmann, and Associates Joseph Gstoettner and Daniel Habich.

The Nomos team included Partners Mirjam Sorgoand and Hartmut Schmidtmayr.

Brandl Talos did not respond to our inquiry on the matter.

Nomos could not provide additional information on the matter.

Editor’s Note: After this article was published Cerha Hempel announced that it advised Scottish Equity Partners. The firm’s team included Partners Clemens Hasenauer, Harald Stingl, Anna Wolf-Posch, and Christopher Peitsch, Senior Attorneys at Law Tobias Tangl, Philipp Schaubach, and Matthias Noedl, and Associate Sophie Stock.

Clifford Chance and Spasov & Bratanov have advised a consortium of lenders including Santander Bank Polska and the EBRD on a PLN 300 million financing granted by Santander Bank Polska to Benefit Systems. Norton Rose Fulbright reportedly advised Benefit Systems.

Benefit Systems provides comprehensive well-being solutions, notably through its MultiSport program.

The Clifford Chance team included Warsaw-based Partner Andrzej Stosio, Senior Associate Wojciech Wator, and Associate Oskar Ratajczak as well as Czech Republic-based Partner Milos Felgr and Senior Associate Theresa Rehorova.

The Spasov & Bratanov team included Partner Vassil Hadjov and Senior Associate Petar Dyankov.

Editor’s Note: After this article was published, Norton Rose Fulbright confirmed its involvement to CEE Legal Matters. The firm’s team included Partner Grzegorz Dyczkowski and Counsel Marta Kawecka.

Additionally, Kinstellar informed CEE Legal Matters that it had advised Benefit Systems alongside Norton Rose. The Kinstellar team included Counsel Svilen Issaev and Senior Associate Denitsa Kuzeva.

TGS Baltic and Gessel have advised Estiko-Plastar on its acquisition of Sefko. Roedl & Partner reportedly advised Sefko.

According to TGS Baltic, both companies are well-known players in the packaging market, offering a wide range of innovative and sustainable packaging solutions for food and non-food industries worldwide.

“Sefko’s current product portfolio perfectly complements Estiko’s current production capacity and our ability to meet the diverse needs of our customers,” said Estiko-Plastar CEO Meelis Jurgens. “With 25 years of experience in manufacturing various pouches and doy-bags, Sefko has a wealth of experience, so we see great potential in combining our expertise to continue our successful journey together.”

“Given the well-established position of Estiko and Sefko in providing customer-focused packaging solutions, we are confident that this synergy will help us to reach new heights in the packaging industry and increase the value we offer to our customers,” added Sefko owners Slawomir Buszta and Sylwester Buszta.

The TGS Baltic team included Partners Leonid Tolstov and Kadri Kallas.

The Gessel team included Partners Michal Bochowicz and Dominika Ramirez, Counsel Inarda Bielinska, Managing Associate Edyta Podgorska, Senior Associates Katarzyna Zarzycka, Daria Golus, Natalia Lesna, and Rafal Smolik, Junior Associates Magdalena Rzepka and Jakub Dolhun.