CEE Legal Matters

Category: News

  • Schoenherr Advises Ceres Pharma on Acquisition of Innopharm & VitaPlus in Hungary

    Schoenherr has advised Ceres Pharma on the acquisition of the Hungarian pharmaceutical companies VitaPlus and Innopharm, including their Innopharm Austrian subsidiary.

    Ceres Pharma is a Belgium-based pharmaceutical company founded in 2017 by Mario Debel and Alychlo and acquired in 2021 by Naxicap Partners. It is active in the development and distribution of drugs, medical devices, biocides, cosmetics, food supplements, and pharmaceutical preparations in Benelux, Italy, and Central and Eastern Europe.

    VitaPlus is a Hungarian pharmaceutical company active in the development and distribution of food supplements and medical devices in Hungary and beyond.

    The Schoenherr team included Hungary-based Partner Kinga Hetenyi, Attorneys at Law Adrian Menczelesz, Aron Hegyi, and Mark Kovacs, and Associates Akos Kovacs, Zsofia Rideg, and Noemi Csiki and Austria-based Counsel Teresa Waidmann, Attorneys at Law Alfred Amann and Alexander Pabst, and Associate Verena Krikler.

  • Squire Patton Boggs, 42Law, Cobalt, and Herbst Kinsky Advise on Hydrogrid’s Series A

    Squire Patton Boggs and 42Law have advised Inven Capital on co-leading the EUR 8.5 million series A investment round of Hydrogrid, alongside Karma Ventures. Cobalt advised Karma Ventures. Herbst Kinsky advised Hydrogrid.

    Inven Capital is a EUR 500 million venture capital fund focused on later-stage climate tech investments in Europe, backed by the CEZ Group and the European Investment Bank.

    Hydrogrid is an Austrian developer of software for the hydropower industry. 

    According to Squire, “the funding round, co-led with Karma Ventures and with contributions from existing investors CNB Capital and SET Ventures, will enable Hydrogrid to continue its rapid growth and expand into new markets, supporting the transition towards a zero-carbon future.”

    The Squire Patton Boggs team included Prague-based Partner Radek Janecek, Senior Associate Marek Hrubes, and Associate Jakub Nemecek. 

    The 42Law team included Partner Christof Strasser and Associates Bernhard Lichtneger and Florentina Klaffenbock.

    The Cobalt team included Partner Kristel Raidla-Talur, Specialist Counsel Greete Kristiine-Kuru, Senior Associate Marten Amjarv, and Assistant Lawyer Paul Schifrin.

    The Herbst Kinsky team included Partner Philipp Kinsky, Attorney at Law Angelika Kurz, and Associate Barbara Ring.

  • White & Case Advises SigmaRoc on Acquisition of CRH European Lime Business for Around EUR 1 Billion

    White & Case has advised SigmaRoc on the acquisition of CRH’s European lime businesses for a total deal value of approximately EUR 1 billion. SSW Pragmatic Solutions reportedly advised the lenders.

    According to White & Case, “SigmaRoc has entered into three separate transactions, with the first being the acquisition of CRH’s German, Czech, and Irish lime businesses. SigmaRoc has also entered into separate call options to acquire CRH’s UK and Polish lime operations, subject to each of those businesses being carved out of the CRH Group.”

    SigmaRoc is a London Stock Exchange AIM-listed specialist quarried materials group with a market cap of approximately GBP 350 million. The transaction will constitute a reverse takeover for SigmaRoc and is accordingly subject to shareholder approval.

    CRH is an international group of diversified building materials businesses listed on the New York Stock Exchange with a market cap of approximately GBP 35 billion.

    The White & Case team included Warsaw-based Partner Marek Sawicki, Local Partner Jakub Gubanski, and Associates Malgorzata Herda, Damian Lubocki, and Iwo Malobecki; Prague-based Partner Jonathan Weinberg and Associates Iva Cechrakova, Kamila Dankova, Radek Kraus, Monika Sedlackova, and Lucie Zanaskova; and further team members in London and Frankfurt.

  • TGS Baltic Advises INVL Baltic Sea Growth Fund on Galinta Group Acquisition

    TGS Baltic has advised the INVL Baltic Sea Growth Fund on the agreement to fully acquire the Galinta Group. Lewben advised Galinta.

    Closing is expected in early 2024, pending regulatory approval.

    According to the firm, the Galinta Group is one of the largest producers of buckwheat in Europe and one of the leading producers and traders of flakes, rice, and other groats in the Baltic region.

    The INVL Baltic Sea Growth Fund is a private equity fund operating in the Baltics. Galinta is the ninth portfolio investment for the INVL Baltic Sea Growth Fund.

    “We believe that the plant-based food sector has strong potential for growth and Lithuania demonstrates a competitive advantage in the field of food processing, especially in the grain segment,” INVL Baltic Sea Growth Fund Managing Partner Deimante Korsakaite commented. “Sustainability is gaining more and more leverage in society today. Therefore, post-acquisition we will not only target product development but also strengthen sustainability-related initiatives in the company’s day-to-day activities.”

    The TGS Baltic team included Lithuania-based Partner Dalia Tamasauskaite-Ziliene and Senior Associates Indre Vickaite-Liatuke, Jonas Salna, Simas Paukstys, and Vytautas Bradauskas; and Latvia-based Senior Associate Mara Stabulniece and Associate Eliza Silina.

  • Istanbul’s Tolga Tezel and Prague’s Radek Kraus and David Wilhelm Make Local Partner at White & Case

    Senior Associate Tolga Tezel and Associates Radek Kraus and David Wilhelm have been appointed as Local Partners at White & Case in Istanbul and Prague respectively. The appointments were part of a broader round – including 23 Local Partners and 22 Counsels – and followed the firm’s earlier Global Partner round, which included Prague’s Vaclav Zaloudek (as reported by CEE Legal Matters on November 20, 2023).

    Tezel focuses on commercial, corporate, and M&A as well as capital markets matters and was appointed a Local Partner in the Global Mergers & Acquisitions practice. He started his career with GKC Partners, the Turkish affiliate of White & Case, back in 2011 as an Intern. He returned a year later and spent 13 months with the team, before a one-year stint in the Armed Forces, to finally take up a permanent position with GKC in 2015.

    Kraus specializes in banking & finance and insolvency as well as corporate and commercial law and was named a Local Partner in the Global Debt Finance practice. He joined White & Case back in 2017. Before that, he spent two years with Wolf Theiss as an Associate and two more with KPMG Legal. He started out with NSG Morison in 2010, where he spent three years and made Associate in 2011.

    Wilhelm focuses on energy, construction, and general corporate law matters and became a Local Partner in the Global Project Development and Finance practice. He joined White & Case in 2011, the same year he received his LLM degree from Masaryk University in Brno.

    Prague’s Vladimir Ivanco was also appointed a Counsel in the firm’s Project Development and Finance practice as part of the same promotion round. The promotions will become effective on January 1, 2024.

  • Kinstellar Advises Jacquet Metals on Acquisition of Several Companies from Swiss Steel Group

    Kinstellar, working with Veil Jourde, has advised Jacquet Metals on its acquisition of several distribution companies from the Swiss Steel Group. Niederer Kraft Frey and Roedl & Partner reportedly advised the Swiss Steel Group.

    Jacquet Metals is a European company operating in the customization and distribution of specialty metals.

    The Swiss Steel Group operates in the production of specialty long steel. 

    The Kinstellar team included Prague-based Partner Jan Juroska and Senior Associate Matej Vecera, Bratislava-based Associates Livia Miklencicova and Richard Remenik, and Budapest-based Partner Gabor Gelencser and Senior Associate Judit Sos.

    Editor’s Note: After this article was published, CEE Legal Matters learned that Lextal had advised Jacquet Metals as well. The firm’s team included Estonia-based Partner Kristi Sild and Attorney at Law Martin Nikolajev; Lithuania-based Partners Dziuginta Balciune and Lina Siksniute-Vaitiekuniene and Associate Jolanta Borko; and Latvia-based Partner Liene Pommere and Lawyer Anna Losane.

  • Zepos & Yannopoulos Advises DEPA Commercial on Joint Venture with GEK Terna and Gener 2

    Zepos & Yannopoulos has advised DEPA Commercial on its joint venture with GEK Terna and Gener 2 for the development of a thermal electricity production unit in Albania.

    According to Zepos & Yannopoulos, “DEPA Commercial will hold a 35% stake in Fier Thermoelectric SHA’s equity capital. The latter was founded in September 2022 by GEK Terna and Albania-based Gener 2 to construct and operate the natural gas-fired unit, with a capacity of 174 megawatts, at the Relievi Roskovec site. DEPA’s investment in this JV marks the expansion of DEPA’s activities in a new market through a strategic partnership aiming to contribute to the energy stability of the region.”

    The Zepos & Yannopoulos team included Partners Stefanos Charaktiniotis, Stamatis Drakakakis, and Anastasia Makri, Senior Associates Marilisa Myrat and Smaragda Spyrou, and Associates Ellie Gavriilidou and Gina Goudoulia.

    Zepos & Yannopoulos did not respond to our inquiry on the matter.

  • Herbst Kinsky and WKB Advise TX Logistik on Merger Control for Exploris Deutschland Holding Acquisition

    Herbst Kinsky and WKB Lawyers have advised TX Logistik in the merger control proceedings before the Austrian and Polish competition authorities for its acquisition of Exploris Deutschland Holding, with Orrick Herrington & Sutcliffe reportedly advising on the proceedings in Germany.

    TX Logistik, with its headquarters in Troisdorf, North Rhine-Westphalia, is a rail transport company with connections in eleven European countries, having subsidiaries in Switzerland, Austria, Denmark, and Sweden. It is wholly owned by Mercitalia Logistics, a subsidiary of Ferrovie dello Stato Italiane, Italy’s national state-owned railway holding company.

    Exploris, part of the Hamburg-headquartered Exploris Group, is a European rail freight transportation company active in the logistics and railway sector with subsidiaries in Germany, Poland, Austria, Belgium, the Netherlands, the Czech Republic, and Switzerland. Group companies of Exploris include, amongst others, Via Cargo, HSL Logistik, and Delta Rail.

    The Herbst Kinsky team included Attorney at Law Valerie Mayer and Associate Valerie Krischke.

    The WKB team included Counsel Wojciech Kulczyk and Associates Weronika Wojcik and Filip Rybak.

  • Ellex Advises Culligan International on its Acquisition of Primo Water International

    Ellex, working alongside Baker McKenzie, has advised Culligan International on its acquisition of Primo Water Corporation’s European business in an all-cash transaction valued at up to USD 575 million.

    According to Ellex, the transaction excludes the Aimia Foods, United Kingdom, Portugal, and Israel businesses of Primo Water Corporation.

    Culligan International is a portfolio company of BDT Capital Partners. Founded in 1936 and headquartered in Rosemont, Illinois, it is a global water treatment company.

    Primo Water Corporation is a sustainable drinking water service provider

    The Ellex team included Lithuania-based Partner Jaunius Gumbis and Senior Associate Nerijus Patlabys, Latvia-based Senior Partner Filips Klavins, Associate Partners Irina Rozensteina and Anete Puce-Dimitrovska, and Senior Associate Ints Skaldis, and Estonia-based Partner Gerli Kivisoo and Senior Associate Hanna Pahk.

    Ellex was unable to provide additional information on the deal.

  • TBP and White & Case Advise Energo-Pro on USD 300 Million Bond Issuance

    Eversheds Sutherland member Tsvetkova Bebov and Partners, working alongside White & Case, has advised Energo-Pro on an issue of USD 300 million bonds due 2028. Reportedly, BLC Law Office and GKC Partners advised on the issuance as well while Allen & Overy, Boyanov & Co, and Gedik Eraksoy advised the banks involved.

    Earlier, White & Case, TBP, and Spasov & Bratanov advised Energo-Pro on a EUR 300 million bond issuance (as reported by CEE Legal Matters on August 2, 2023).

    The Eversheds Sutherland team included Managing Partner Nikolay Bebov, Partner Damyan Leshev, and Principal Associate Yassen Spassov.