Category: Deals and Cases

Deloitte Legal has advised PortfoLion Capital Partners on their investment in 4FIZJO. Schoenherr advised 4FIZJO.

The transaction remains contingent on regulatory approval.

PortfoLion Capital Partners is a Central and Eastern European venture capital and private equity fund.

4FIZJO is a Polish e-commerce platform specializing in sports, physiotherapy, fitness, and rehabilitation equipment. 

According to Schoenherr, this partnership is an important step for 4FIZJO, “supporting the company’s international expansion efforts and reinforcing its presence in the CEE region. With its proprietary brands, 4FIZJO, Tsunami, and Mountain Goat, the company has achieved consistent revenue growth and currently operates in six CEE markets, including Poland, Romania, and Hungary.”

The Deloitte Legal team included Budapest-based Managing Partner Peter Gondocz and Senior Managing Associates Akos Szauter and Mark Chiovini as well as Warsaw-based Partner Tomasz Ciecwierz, Senior Associate Bartosz Kuziola, and Junior Associate Rafal Stypulkowski.

The Schoenherr team included Partner Marcin Czaprowski and Associate Maciej Korzon.

Greenberg Traurig and Filip & Company have advised Polish chemical group Qemetica on its acquisition of PPG’s precipitated silica business for approximately PLN 1.2 billion (USD 310 million). Hogan Lovells advised PPG.

Qemetica operates in seven business areas including the production of soda ash, evaporated salt, agricultural solutions, polyurethane foams, silicates, and glass, as well as rail transport services. It has nine production plants in Poland and Germany and distribution companies in the crop protection business across several European countries.

PPG is a coatings, specialty materials, and glass products company.

According to Greenberg Traurig, through the acquisition, Qemetica has obtained two manufacturing facilities in the United States and the Netherlands, as well as leases for manufacturing and R&D facilities in two additional U.S. locations. Precipitated silica is a crucial raw material used in the production of “green” tires, batteries, and fillers – sectors characterized by stable growth and a positive outlook.

The Greenberg Traurig team included Poland-based Partners Andrzej Wysokinski and Robert Gago, Local Partner Maciej Pietrzak, and Senior Associates Filip Drgas and Grzegorz Socha as well as further lawyers in the U.S. and the Netherlands.

The Filip & Company team included Senior Associate Roxana Rosca and Associate Sergiu Paun.

The Hogan Lovells team included lawyers from the Netherlands, Belgium, and the U.S.

Rymarz Zdort Maruta has advised EWE on the sale of EWE Polska and its group companies EWE Przesyl and EWE Energia to Eesti Gaas for a total value of EUR 120 million. CMS and Ellex advised Eesti Gaas.

The transaction remains contingent on regulatory approval.

EWE Polska is the second largest privately-owned natural gas network operator in Poland.

Eesti Gaas is the largest privately owned energy company in the Baltic region and Finland. It offers its customers natural gas in various forms, biomethane, and green energy from photovoltaic plants. Operating under the Elenger brand, Eesti Gaas serves over 400,000 customers across the Baltic States, Finland, and Poland.

“Our ambition is to expand beyond the Baltic-Finnish region into Central and Western Europe, implementing our proven model and experience as a gas supplier and network operator in Poland, thereby delivering the best service to consumers,” said Eesti Gaas Chairman of the Council Ain Hanschmidt. The acquisition of an energy company in Poland provides us with the necessary momentum in this large and important growing gas market, while also ensuring an additional steady cash flow for the company’s shareholders.”

The Rymarz Zdort Maruta team included Partners Aleksandra Dobrzynska-Grezel and Marek Durski, Senior Associates Diana Sofu, Adrian Augustyniak, and Tomasz Kordala, and Associates Justyna Niezgoda and Alicja Szymanska.

The CMS team included Partners Mateusz Stepien and Lukasz Szatkowski, Counsels Olga Czyzycka-Szczygiel and Adam Kedziora, Senior Associate Joanna Bialoskorska, and Associates Tomasz Piotrowski and Alicja Smyklinska.

The Ellex team included Partner Martin Kaerdi.

Cobalt, working with Cooley, has advised Printify on its merger with Printful. Ellex, working with Latham & Watkins, advised Printful.

Printify and Printful are both technology platforms that enable customers to build eCommerce businesses.

According to Cobalt, “the merger will open new prospects for accelerated growth for both companies and offer millions of customers broader opportunities to develop their online businesses on a global scale. Both platforms will continue to operate as separate brands, strengthening Riga’s position as an innovation center and a strategic target for tech investment.”

The Cobalt team included Partners Guntars Zile, Sandija Novicka, Ugis Zeltins, and Indrikis Liepa, Specialist Counsels Liga Fjodorova and Kristine Patmalniece, Senior Associates Janis Sarans-Reneslacis, Elina Locmele, Gabriela Santare, Kristine Ravina, Ivo Maskalans, Arturs Valdersteins, and Sabine Zaula, Associates Vadims Zvicevics and Krista Helmute, and Junior Associates Roberts Gusts and Gustavs Aleksandrs Klucis.

The Ellex team included Latvia-based Senior Partner Filips Klavins, Associate Partner Zane Veidemane-Berzina, Senior Counsels Iveta Ceple and Eduards Dzintars, Senior Associates Kaspars Oisevskis, Anna Misneva, Beata Plocina, Ints Skaldis, and Mikijs Zimecs, and Associates Ineta Kanepe and Anna Marta Riekstina and Estonia-based Partner Sven Papp and Counsel Gerda Liik.

White & Case and its Turkish affiliate GKC Partners have advised Ronesans Holding’s subsidiary Renell Kokshetau on the financing of a EUR 456 million public-private partnership healthcare project for the construction and operation of a hospital in Kazakhstan. Clifford Chance reportedly advised the financing institutions.

According to White & Case, Ronesans Holding will build and maintain a 110,000-square-meter multi-specialty hospital to serve over one million people across the city of Kokshetau and the wider Akmola region. The project is funded by six international financial institutions, including the EBRD, AIIB, ICD, DEG, Proparco, and the Development Bank of Kazakhstan.

The White & Case team included Istanbul-based Partner Sebastian Buss and further team members in Astana and London.

The GKC Partners team included Association Partner Guniz Gokce and Associates Emrehan Mermer, Segenay Kerimoglu, and Baran Abur.

Editor’s Note: After this article was published, Kinstellar announced that it advised the consortium of lenders that included the EBRD, AIIB, Proparco, ICD, DEG, and the Development Bank of Kazakhstan. The firm’s team included Partner Joel Benjamin, Of Counsel Maksim Grekov, and Senior Associate Aigerim Raikhanova.

Schoenherr and Madirazza & Partners have advised RP Global on Mirova’s agreement to invest up to EUR 480 million in RP Global Energy. Clifford Chance reportedly advised RP Global as well. White & Case’s Paris office reportedly advised Mirova. Spain-based Uria Menendez, Portugal-based Abreu Advogados, France-based LPA-CGR Avocats, Germany-based Chatham Partners, and the Italian office of DWF reportedly advised RP Global on the matter as well. 

RP Global is a developer of large-scale renewable energy projects. The company focuses on solar PV, wind, hydro, and storage projects and is currently developing a pipeline of 16 gigawatts. 

Paris-based Mirova is a global asset management company.

According to Schoenherr, “Mirova will become a minority investor through a combination of equity and mezzanine bonds. The cooperation between RP Global and Mirova aims at the joint development, construction, operation, and marketing (including sale) of projects and investments in renewable energy projects. This includes wind power, photovoltaics, established electricity storage technologies, green hydrogen, geothermal energy, hydropower, hybrid projects, and the provision of related services.” 

With Mirova’s investment, RP Global plans to build and commission more than 2,500 megawatts of solar, wind, and storage assets over the next five years.

The Schoenherr team included Partners Robert Bachner and Franz Urlesberger, Counsels Stephan Roedler and Evelin Hlina, Attorneys at Law Daniel Wadl and Gabriel Ebner, and Associates Roland Misic and Constantin Maras.

The Madirazza & Partners team included Partner Marinka Kovacic, Associate Ester Despot, and Junior Associate Iva Ramljak.

Kocian Solc Balastik, working with ODI Law, has advised Energo-Pro Group on the sale of Litostroj Group to Wikov Industry.

Litostroj designs and manufactures turbines for hydroelectric power plants. According to KSB, “in addition to the Czech Republic, the transaction includes Slovenia, where Litostroj manufactures turbines and pumps, as well as Canada and the United States, which are key markets for Litostroj, where Litostroj Hydro and Litostroj US operate.”

The KSB team included Partner Martin Krejci, Senior Associate Jakub Porod, and Junior Associate Jakub Mehl.

The ODI Law team included Partners Primoz Mikolic and Tine Misic and Associate Milan Stankovic.

KSB did not respond to our inquiry on the matter.

Stankovic & Partners has advised SuperPadel Alliance on a partnership agreement with the Croatian Padel Federation and the Diagonal Padel Pro Academy in Madrid. 

According to Stankovic & Partners, “this partnership marks a crucial step forward in promoting the game of padel in Croatia, and across the entire Adriatic region, facilitating collaboration between the Croatian Federation and one of the world’s leading padel academies, which is known for training some of the leading international players.”

The Stankovic & Partners team included Associate Luka Marosiuk.

Stankovic & Partners did not respond to our inquiry on the matter.

Dentons, working with E+H, has advised a club of senior lenders, led by Tatra Banka as the global coordinator, on financing for Tatry Mountain Resorts consisting of a EUR 180 million senior facility and a EUR 110 million junior facility. Kinstellar advised J&T Banka as the junior lender. A&O Shearman advised Tatry Mountain Resorts.

Tatry Mountain Resorts operates in the field of tourism in Central and Eastern Europe and owns or leases and operates mountain resorts, amusement parks, golf resorts, restaurants, sports services, shops, and hotels.

According to Dentons, “the financing will be used to complete the recapitalization of TMR while also providing financing for sustainable growth. Tatra Banka acted as global coordinator and mandated lead arranger, UniCredit Bank Czech Republic and Slovakia and Slovenska Sporitelna were mandated lead arrangers, PKO Bank Polski and Ceskoslovenska Obchodna Banka joined as arrangers, and Ceska Sporitelna and Raiffeisenbank CR participated as senior lenders. J&T Banka participated as the junior lender.”

Earlier this year, A&O Shearman advised Tatry Mountain Resorts on a EUR 120 million offering (as reported by CEE Legal Matters on September 5, 2024).

The Dentons team included Slovakia-based Partner Patricia Gossanyiova, Counsel Miroslav Kapinaj, Senior Associates Katarina Slezakova and Richard Marcincin, Associates Bianca Bohmova and David Stanek, and Junior Associate Nikola Salvova, Czech Republic-based Partner Ondrej Barton and Junior Associate Vanda Zaklaiova, and Poland-based Partner Bartosz Nojek, Senior Associate Mateusz Ciechomski, and Associate Karol Scibor. 

The E+H team included Partners Marcus Benes and Laurencz Liedermann and Associates Dilara Mamuk and Willibald Salomon.

The Kinstellar team included Partner Tomas Melisek, Senior Associate Erik Neupaver, and Associates Michaela Strakova and Norbert Stilla.

The A&O Shearman team included Partner Renatus Kollar, Counsel Matus Kudlak, Senior Associates Petra Dzubakova and Jan Deset, and Lawyer Tereza Tvaroskova.

White & Case has advised joint lead managers Commerzbank, Danske Bank, DZ BANK, Erste Group Bank, Raiffeisen Bank International, and UniCredit Bank on the issuance of EUR 500 million 2.875% mortgage-covered bonds due 2029 under the EUR 10 billion mortgage-covered bond program of UniCredit Bank Czech Republic and Slovakia.

According to White & Case, “the mortgage-covered bonds were admitted to trading on the regulated market of the Luxembourg Stock Exchange.”

The White & Case team included Partner Petr Hudec, Counsel Petr Smerkl, and Associate Jan Vacula as well as additional team members in Frankfurt.

White & Case did not respond to our inquiry on the matter.