Category: News

  • Cerha Hempel and SOG Appointed Legal Advisors for Emirate of Dubai Economic Development Program

    Cerha Hempel Hungary and the SOG Law Firm have been appointed as members of an international legal consortium to screen potential companies and advise on investments by the Emirate of Dubai’s “Operation 300 Billion” program. The consortium also reportedly includes the Boros Arpad Andras law firm in Budapest.

    “The ten-year comprehensive strategy of the United Arab Emirates launched in March 2021 aims to empower and expand the industrial sector to become the driving force of a sustainable national economy, increasing its contribution to national GDP from AED 133 billion at present to AED 300 billion by 2031,” Cerha Hempel informed.

    According to SOG, Sheikh Rashid Bin Ahmed Al Maktoum, a member of Dubai’s ruling family, announced that he would offer cooperation opportunities for companies in Central and South Eastern Europe to participate in the national development program called “Operation 300 billion.”

    “As the owner of RAM Investment – DXB Holding, Sheikh Rashid Bin Ahmed Al Maktoum hired an international legal consortium of three leading law firms to screen and advise potential companies,” SOG added. “In addition to SOG, two Hungarian law firms are part of the consortium. The law office of Boros Arpad Andras – which specializes in the energy, financial, and investment sectors of the Central and Eastern Europe region – leads the Consortium, and Cerha Hempel, whose executive partner is Polauf Tamas – known for its consulting solutions and decades of experience in international commercial transactions and corporate matters.”

    The Cerha Hempel team is led by Managing Partner Tamas Polauf.

    The SOG team is led by Partner Milan Samardzic.

  • Clifford Chance and White & Case Advise on Rohlik Group Bank Financing

    Clifford Chance has advised a club of Czech banks led by Ceska Sporitelna on their financing for the Rohlik Group. White & Case advised Rohlik.

    According to Clifford Chance, the financing banks also included BNP Paribas and J&T Banka.

    Founded in 2014, the Rohlik Group is a grocery online delivery service in the Czech Republic and CEE.

    Last year, White & Case also advised the Rohlik Group on its EUR 220 million series D financing round (as reported by CEE Legal Matters on June 24, 2022). 

    The Clifford Chance team included Czech Republic-based Partner Milos Felgr, Senior Associate Hana Cekalova, and Junior Lawyer Tomas Kubala, Romania-based Counsel Cosmin Anghel and Trainee Lawyer Nicolae Grasu, as well as teams from the firm’s German, Italian, and Spanish offices.

    The White & Case team was led by Prague-based Partners Petr Hudec and Jonathan Weinberg and included Counsel Petr Smerkl and Associate Jakub Kopacek, as well as teams from the firm’s Hamburg, Milan, and Madrid offices.

  • Clifford Chance and White & Case Advise on Rohlik Group Bank Financing (2)

    Clifford Chance has advised a club of Czech banks led by Ceska Sporitelna on their financing for the Rohlik Group. White & Case advised Rohlik.

    According to Clifford Chance, the financing banks also included BNP Paribas and J&T Banka.

    Founded in 2014, the Rohlik Group is a grocery online delivery service in the Czech Republic and CEE.

    Last year, White & Case also advised the Rohlik Group on its EUR 220 million series D financing round (as reported by CEE Legal Matters on June 24, 2022). 

    The Clifford Chance team included Czech Republic-based Partner Milos Felgr, Senior Associate Hana Cekalova, and Junior Lawyer Tomas Kubala, Romania-based Counsel Cosmin Anghel and Trainee Lawyer Nicolae Grasu, as well as teams from the firm’s German, Italian, and Spanish offices.

    The White & Case team was led by Prague-based Partners Petr Hudec and Jonathan Weinberg and included Counsel Petr Smerkl and Associate Jakub Kopacek, as well as teams from the firm’s Hamburg, Milan, and Madrid offices.

  • Dentons Advises HB Reavis on EUR 475 Million Financing for Varso Place Development

    Dentons has advised HB Reavis on obtaining a EUR 475 million financing from Santander Bank Polska, Bank Pekao, Helaba, and Berlin Hyp for the development of the Varso Place building complex in Warsaw. DLA Piper reportedly advised the lenders.

    Varso Place is located near the Warsaw Central Station and consists of three buildings comprising 144,000 square meters of leasable space, including offices, a hotel, an innovation center, and retail units.

    HB Reavis is a Bratislava-headquartered company that invests in, designs, builds, and manages buildings, including company headquarters, retail malls, and co-working spaces. The company operates in the UK, Poland, the Czech Republic, Slovakia, Hungary, and Germany.

    “Once again, the loan for Varso Place confirms our strong position on the European real estate market,” HB Reavis CFO Peter Pecnik commented. “In such demanding times, we remain a stable and reliable partner for the leading financial institutions within the region. This is a good prognosis before the start of the new projects we are planning in key markets in Poland, the UK, and Germany. We are convinced that, like Varso Place, they will be first-class investments and market benchmarks in terms of quality, sustainable solutions, and tenant portfolios.”

    Dentons previously advised HB Reavis on the initial EUR 350 million financing granted to its three subsidiaries by a syndicate of Santander Bank Polska, Helaba, Bank Pekao, and UniCredit for the construction of Varso Place in Warsaw (as reported by CEE Legal Matters on March 20, 2019). 

    The Dentons team was led by Warsaw-based Partner Bartosz Nojek and included Partners Dariusz Stolarek, Michal Wasiak, and Katarzyna Bilewska, Counsel Wojciech Lysek, Senior Associates Aleksandra Czyz and Maciej Sopel, Associates Mateusz Ciechomski, Natalia Greiner, and Radoslaw Zygadlo, Bratislava-based Counsel Petra Strbova and Associate David Stanek, as well as a team from the firm’s Luxembourg office.

  • KSB and PwC Advise on Sandberg Capital’s Acquisition of Phase

    Kocian Solc Balastik and PwC Slovakia have advised Sandberg Capital on its acquisition of a 70% stake in Phase.

    “The entry of a new investor will allow Phase to expand the number of stores and product portfolio and also brings the potential for expansion abroad,” PwC announced.

    Established in 2007, Phase specializes in the design and sale of sofas, with 26 stores in the Czech Republic and Slovakia.

    Sandberg Capital is an investment management company that invests in small and medium-sized companies in the Slovak Republic and CEE.

    KSB previously advised Sandberg Capital on its acquisitions of the Green Fox Academy (as reported by CEE Legal Matters on November 8, 2022) and Daktela (as reported by CEE Legal Matters on July 2, 2021)

    The KSB team included Managing Partner Pavel Dejl, Partner Drahomir Tomasuk, Lawyers Jan Beres and Martin Vrab, and Junior Lawyer Karolina Vosatkova.

    The PwC Legal team included Senior Lawyer Jana Borska working alongside a PwC deals advisory team.

    The firms did not respond to our inquiry regarding the counterparty’s counsel.

    Editor’s Note: After this article was published, PwC Legal announced it had advised Sandberg Capital in both Slovakia and the Czech Republic. The firm’s updated team included Senior Lawyers Jana Borska and Daniel Pikal and Junior Lawyer Barbora Satrova, working alongside a PwC deals advisory team.

  • Nenad Kovacevic Makes Partner at CMS Belgrade

    Senior Dispute Resolution Expert at CMS Belgrade and CMS Podgorica Nenad Kovacevic has been promoted to Partner. 

    According to CMS, Kovacevic has been a “valuable member of the CMS team since 2013.” He focuses on civil, enforcement, criminal, bankruptcy, and labor proceedings as well as alternative dispute resolution. He joined the firm as an Associate and made Attorney at Law in 2015. 

    “Nenad has been a hard-working, devoted, and committed member of our dispute resolution team for years,” CEE Partner and Head of Dispute Resolution in Belgrade and Podgorica Nedeljko Velisavljevic commented. “His promotion is a great achievement and will serve to drive further the growth of our team and the entire firm.“ 

    “Nenad’s expertise and dedication to his clients have made him a trusted advisor and we are proud to have him on board as a Partner,” Belgrade and Podgorica Managing Partner Radivoje Petrikic added. “His promotion is a testament to his hard work as a team member and commitment to providing the highest quality legal services to clients.”

  • Baker McKenzie, DTB, and Marek Partners Advise on Migros Group Investment in Revendo

    Baker McKenzie, Divjak Topic Bahtijarevic & Krka, and Marek Partners have advised the Migros Group and its start-up incubator Sparrow Ventures on their investment in Revendo. Baer & Karrer advised Revendo’s founders.

    Founded in Basel in 2018, Revendo is a Swiss start-up specializing in the upcycling of electrical appliances, in particular mobile phones.

    The Migros Group (Migros-Genossenschafts-Bund) is a Zurich-headquartered company providing services in cooperative retail trade, trade, industry and wholesale, financial services, and traveling.

    The Baker McKenzie team included Vienna-based Counsel Wolgang Eigner and Associates Markus Sacherer, Andrea Haiden, and Martina Grama, as well as a team from the firm’s Zurich office.

    The DTB team included Senior Partner Damir Topic, Attorneys-at-Law Dina Salapic and Dominik Glavina, and Trainee Anella Bukovic.

    The Marek Partners team included Partners Stefan Artner and Tibor Sovcik and Senior Associate Peter Kovac.

  • CMS Advises Banks on Kernel Loan Postponement

    CMS has advised a syndicate of banks led by ING Bank on the postponement of loan payments under the USD 450 million pre-export facility for Ukraine’s Kernel Group. Linklaters reportedly advised the Kernel Group. Allen & Overy reportedly advised Natixis, another lender.

    According to CMS, “the terms of repayments postponement have been developed and agreed upon in parallel for several bank creditors of Kernel, including Natixis, the EBRD, and the EIB, following a fair treatment principal approach. According to the agreed terms, Kernel will continue to pay interest accrued on loans in accordance with the terms of loan agreements, whereas the principal repayment is postponed until June 30, 2023.”

    “The payment terms adjustment was required due to the severe disruptions to the business processes and logistics for the supply of grain and sunflower oil, caused by the Russian invasion of Ukraine, in particular the blockade of Black Sea ports,” CMS added. “The agreement in relation to the bank debt repayment reached with the creditors of the Kernel Group would provide the necessary financial stability for the Kernel Group to work in the current unprecedented circumstances of the Russian aggression against Ukraine.”

    Kernel is a Ukrainian bottled sunflower oil producer and seller. According to CMS, before the war, Kernel was ranked first in the world in sunflower oil production and export.

    CMS previously advised a syndicate of banks led by ING Bank on the extension of a pre-export facility for Ukraine’s Kernel Group as well as an increase in the credit facility to USD 420 million (as reported by CEE Legal Matters on November 9, 2021).

    The CMS international team was led by Kyiv-based Counsel Kateryna Chechulina and included Partner Ihor Olekhov, Senior Associate Mykola Heletiy, Associates Khrystyna Korpan, Ivan Pshyk, Iryna Barlit, and Roman Hryshyn-Hryshchuk, and Trainee Ruslan Dotsenko, as well as Sofia-based Partner Elitsa Ivanova and teams from the firm’s Switzerland and Luxembourg offices.

  • Schoenherr Appoints Four New Partners and Five Local Partners Across CEE

    Klara Kiehl, Clemens Rainer, Sascha Schulz, and Marco Thorbauer have been appointed as Schoenherr Partners in Austria, while Serbia’s Jelena Arsic, Jovan Barovic, and Dusan Obradovic, Bulgaria’s Tsvetan Krumov, and Hungary’s Laszlo Krupl have all been appointed as Local Partners with the firm.

    According to Schoenherr, “Kiehl specializes in white-collar crime, compliance, and compliance-related litigation.” She has been with Schoenherr since 2010, joining as an Associate. She became an Attorney in 2013 and a Counsel in 2018.

    Rainer, a former Counsel, specializes in real estate transactions. He joined Schoenherr in 2013 as an Associate and became an Attorney in 2014, before being promoted to Counsel in 2020. He began his career in 2009 with Weber, as an Associate.

    Another former Counsel, Schulz is a corporate and M&A expert. He joined Schoenherr in 2012 and was promoted to Counsel in 2016. Before that, he was the Head of Office at the Austrian Takeover Commission between 2006 and 2012.

    Thorbauer, who specializes in tax law, has been with Schoenherr since 2016 when he joined as an Associate. He became an Attorney at Law in 2019. Before joining the firm, he spent over two years with DLA Piper.

    Arsic, a member of Schoenherr’s Banking & Finance practice in Serbia, has been with the firm since 2013. After joining as an Associate she became an Attorney at Law in 2016.

    Barovic specializes in corporate and M&A work, baking & finance, and capital market mandates in Serbia, Montenegro, and North Macedonia. He has been with the firm since 2010, when he joined as an Associate. He became an Attorney at Law in 2014.

    Obradovic specializes in banking & finance. He joined the firm’s Serbian office in 2012, as an Associate, and became an Attorney at Law in 2015.

    Krumov heads the firm’s Bulgaria-based Banking & Finance department in Sofia. He has been with the firm for over 13 years, joining in 2009. Before that, he spent almost four years with Landwell as an Attorney at Law.

    Krupl heads the firm’s Budapest-based Real Estate & Construction practice. He has been with Schoenherr since 2019, having moved from EY Law, where he spent three years as an Attorney. Earlier, he spent over three years with Cerha Hempel Spiegelfeld Hlawati, between 2013 and 2016, and three years as a Trainee Lawyer with CMS between 2010 and 2013.

    “The newly promoted are internationally renowned experts with excellent track records,” Schoenherr’s newly elected Managing Partner Alexander Popp said. “But even more important is that they are great personalities, embodying what makes our Schoenherr people so extraordinary. They all are dedicated and always strive for what’s best for our clients and their teams, and have proved that they are ready to further develop Schoenherr in their new positions.”

  • BDK Advokati Advises Degordian on Acquistion of Majority Stake in Shopycode

    BDK Advokati has advised Croatia’s Degordian on its acquisition of a 51% stake in Serbian e-commerce software development company Shopycode.

    Degordian is a Croatia-based multinational digital-first agency.

    According to BDK Advokati, “after this acquisition, Degordian’s digital unit and Shopycode became one team who can offer 360 solutions in the sphere of digital products.”

    BDK Advokati’s team included Senior Partner Vladimir Dasic and Associate Sanja Dedovic.