CEE Legal Matters

Category: News

  • BDK Advokati Advises on Sale of Termoplast Grupa to Greiner Packaging

    BDK Advokati has advised the sellers on the sale of Termoplast Grupa to Greiner Packaging. Divjak Topic Bahtijarevic & Krka and Selih & Partnerji reportedly advised the sellers as well.

    Greiner Packaging International is an Austria-headquartered group specializing in packaging processing. Termoplast Grupa holds a 49% stake in Greiner Packaging Slovenia, a SEE plastic packaging producer with two production plants in Serbia.

    The BDK Advokati team included Senior Partner Vladimir Dasic and Senior Associate Jelena Zelenbaba.

    BDK Advokati did not respond to our inquiry on the matter.

  • Clifford Chance Advises Norsk Hydro on Tender Offer for Alumetal

    Clifford Chance has advised Norsk Hydro on its tender offer for the purchase of Alumetal. Lakatos, Koves, and Partners reportedly advised Norsk Hydro on Hungarian law-related matters. Penteris reportedly advised Alumetal.

    The transaction remains contingent on regulatory approval and Hydro gaining control of a minimum of 66% of total Alumetal shares outstanding. The subscription period for the tender offer is expected to commence on June 13, 2022, and expire on July 12, 2022. According to a company press release, “Hydro has concluded an agreement with two members of the Alumetal Supervisory Board and all members of the Alumetal Management Board, in total holding approximately 39% of the company’s shares, who have undertaken to submit subscriptions in the tender offer for all their shares at the offer price.”

    “The transaction implies an enterprise value of approximately PLN 1.332 billion based on the latest reported net debt for fiscal year 2021 and dividends payable of PLN 106 million, with the dividend payment date falling on July 27, 2022,” Clifford Chance informed. “The transaction will strengthen Hydro’s recycling position in Europe and widen its product offering in the low-carbon and scrap-based foundry alloy market.”

    Norsk Hydro is an Oslo-headquartered aluminum and energy company, providing services for a range of market segments for aluminum, energy, metal recycling, renewables, and batteries.

    Alumetal is a Warsaw Stock Exchange-listed Polish company producing casting aluminum alloys in Europe, with plants in Poland and Hungary.

    “An acquisition of Alumetal is an exciting step towards delivering on our recycling strategy,” Hydro Aluminium Metal Executive Vice President Eivind Kallevik commented. “We have been impressed by the development of the company over time, and by the quality of production, modern assets, and the competence of management and employees. We look forward to bringing Alumetal into the Hydro family and joining forces to develop an even better offering of low-carbon recycled aluminum to our customers in the years to come.”

    The Clifford Chance team was led by Counsel Jaroslaw Lorenc and included Associates Katarzyna Aleksandrowicz and Krzysztof Regucki.

    Editor’s Note: After this article was published, Penteris confirmed it had advised Alumetal. The firm’s team included Partners Wojciech Fabrycki and Tomasz Kudelski, Senior Associate Malgorzata Motyl, and Associate Aleksandra Rogalska.

  • Clifford Chance and Filip & Company Advise on EUR 127 Million Financing for Green Group

    Clifford Chance has advised the Green Group on a EUR 127 million financing from a syndicate of banks. Filip & Company advised the lenders. Linklaters reportedly advised the lenders as well.

    The banking syndicate included Banca Comerciala Romana, ING Bank, OTP Bank Romania, Raiffeisen Bank, and UniCredit Bank. The financing agreement involved nine Green Group companies in four jurisdictions, including Romania, Slovakia, and Lithuania.

    According to Clifford Chance, the Green Group “will use these funds for refinancing, acquisitions, and investments in ‘green’ projects, so as to consolidate and expand its activity in the region.”

    The Green Group specializes in waste management, recycling, and waste recovery, with operations in Romania and Central and Eastern Europe.

    The Clifford Chance Badea team included Counsel Cosmin Anghel, Senior Associate Madalina Mailat, and Lawyer Mihai Dolhescu.

    The Filip & Company team was led by Partners Alexandra Manciulea and Ioana Roman and included Senior Associates Rebecca Marina and Camelia Iantuc and Associate Andreea Dinu.

  • Markiyan Malskyy Joins Kochanski & Partners as Partner

    Former Arzinger Partner Markiyan Malskyy has joined Kochanski & Partners as a Partner and Head of the firm’s Ukrainian Desk.

    Specializing in disputes and arbitration, Malskyy previously spent 14 years with Arzinger. He first joined the firm in 2008, leaving in 2019 for an eight-month stint as Head of the Lviv Regional State Administration (as reported by CEE Legal Matters on July 16, 2019). He rejoined Arzinger in 2020 as a Partner and Head of its West Ukrainian Branch (as reported on January 23, 2020). As a Lawyer, Malskyy also worked with J&L Consulting for a year, from 2007 to 2008, and Freshfields Bruckhaus Deringer, in Paris, in 2006.

    “At this dramatic time, we are supporting Ukrainian business, acting with the hope that Ukraine will rebuild quickly now, and continue after the war is over,” Kochanski & Partners Managing Partner Piotr Kochanski commented. “Markiyan’s professional experience, versatility, a network of global contacts, professional and social activity in Ukraine, personal qualities, including extraordinary intelligence, never-ending good humor, courage, and determination to achieve his goals make him a role model for us and a foundation for our goals and our Ukrainian mission.”

    “I am delighted to join Kochanski & Partners, one of the leading Polish law firms, as in such way I may combine my personal Ukrainian dreams and ambitions with my professional missions. I hope I will be able to contribute widely and effectively to the further rebuilding and stimulating the re-development of my beloved Ukraine,” Malskyy added.

  • Rymarz Zdort Provides Pro Bono Legal Support to Save the Children

    Rymarz Zdort has provided pro bono legal advice to the Save the Children International Foundation on the establishment and registration of its Polish operations.

    “The goal of the Save the Children International Foundation established in Poland will be to protect the lives, health, and well-being of children who have been harmed or placed in danger as a result of the current conflict in Ukraine,” Rymarz Zdort informed.

    Established in 1919, Save the Children International is a London-based non-profit international humanitarian organization. The foundation operates in 122 countries.

    The Rymarz Zdort team included Partners Iwona Her, Marek Maciag, and Lukasz Gasinski, Counsels Jakub Krzemien, Katarzyna Lukaszewicz, and Marek Kanczew, Senior Associates Szymon Cieniawski, Artur Ciechomski, and Krzysztof Rembierz, Associates Kamil Klopocki, Piotr Kasperkiewicz, and Patryk Modrakowski, Junior Associates Filip Goledzinowski and Lidia Bronicka, and Paralegal Adam Drgas.

  • Timea Bana, Radoslaw Goral, Marceli Kasperkiewicz, and Michal Wasiak Make Partner at Dentons

    Timea Bana, Radoslaw Goral, Marceli Kasperkiewicz, and Michal Wasiak have been promoted to Partner as part of Dentons’ recent promotion round that also included the recently reported promotion of Tomasz Zwolinski to Partner (as reported by CEE Legal Matters on April 28, 2022).

    Former Counsel Timea Bana has been promoted to Partner with the firm’s Budapest office in the TMT, IP, and Data Protection practice. Prior to joining Dentons in 2016, she spent over eight years with Weil Gotshal & Manges as a Senior Associate. Bana holds a JD degree from the Pazmany Peter Catholic University and an LLM degree from the University of Westminster.

    Radoslaw Goral, a dispute resolution expert, has been with Dentons’ Warsaw office since 2013 when he joined as a Senior Associate. He was promoted to Counsel in 2016 and Managing Counsel in 2020. Before joining Dentons, he spent six and a half years with legacy firm Salans as a Senior Associate and, earlier still, almost two and a half years with Chadbourne & Parke. Goral holds JSM and SJD degrees from Stanford University.

    Marceli Kasperkiewicz, also a former Managing Counsel, has been with Dentons’ Warsaw office M&A and Private Equity practice since 2004. Starting as an Associate, he was promoted to Counsel in 2016, before reaching the position of Managing Counsel in 2020. Kasperkiewicz has an LLM degree from the University of Warsaw.

    Michal Wasiak, a member of the M&A and Private Equity practice as well, joined the Warsaw office of Dentons in 2010 as an Associate. In 2013 he was promoted to Senior Associate and in 2018 to Counsel, before making Managing Counsel in 2020. Before joining Dentons, he spent over three and a half years with Clifford Chance.

  • Motieka & Audzevicius, Gessel, and Ellex Advise on Vercom’s Acquisition of MailerLite

    Motieka & Audzevicius has advised the sellers on the EUR 84 million sale of Lithuanian startup MailerLite to Polish technology company Vercom. Gessel and Ellex advised the buyer.

    MailerLite is a global supplier of email communication tools for business customers. The company has activities in most countries in the world, with a focus on the US.

    Poland’s Vercom is a listed technology company providing cloud solutions in the CPaaS model and building cloud communications platforms.

    “Upon acquisition, the group plans to significantly accelerate the business growth and dynamically scale up operations and finances across global markets,” Motieka & Audzevicius informed. “It is anticipated that the number of customers will triple from approximately 19,000 to around 57,000, located in 180 different markets.”

    The Motieka & Audzevicius team included Partners Giedrius Kolesnikovas and Rokas Jankus, Senior Associate Aivaras Grigas, and Associates Darius Amsiejus and Laurynas Ramonas.

    The Gessel team was led by Partner Karol Sokol, Associate Dominik Kaszuba, and Junior Associate Pawel Plisko and included Partner Krzysztof Marczuk, Of Counsel Inarda Bielinska, Managing Associate Karolina Krzal-Kwiatkowska, Senior Associates Michal Wielinski and Michal Bragiel, and Associate Jakub Rowicki.

    The Ellex team consisted of Partner Olga Petroseviciene, Associate Partners Rapolas Kasparavicius and Azuolas Cekanavicius, Senior Associates Mantas Juska and Arvydas Gruseckas, and Associates Edvinas Dzulis and Marijus Dingilevskis.

  • Dentons Advises CPI Property Group on EUR 1.25 Billion Financing of Takeover Offer Over S IMMO AG

    Dentons has advised the CPI Property Group on the EUR 1.25 billion bridge loan facility to help finance its takeover offer for all outstanding shares for S IMMO.

    The banks that provided the financing include Banco Santander, Bank of China, Barclays Bank, Credit Suisse, Goldman Sachs Bank, Raiffeisen Bank International, Societe Generale, Komercni Banka, UniCredit Bank Austria, and UniCredit Bank Czech Republic and Slovakia.

    CPI Property Group is one of the largest owners of income-generating real estate in Europe, focused primarily on the Czech Republic, Berlin, and the CEE region.

    According to Dentons, “CPIPG requested S IMMO to convene an extraordinary shareholders’ meeting of S IMMO to resolve on the abolishment of the S IMMO’s voting cap and announced CPIPG’s intention to launch a cash offer to all S IMMO shareholders to acquire their shares. The property portfolio of S IMMO is complementary to CPIPG’s regional and sector exposure. Through its expanded shareholding, the company intends to play a more active role in the future development of S IMMO’s business.”

    Dentons’ team included Prague-based Partner Jiri Tomola, Senior Associate Martin Mandulak, and Associate Ondre Vales, Warsaw-based Partner Mark Segall, along with a further team in Luxembourg.

    Dentons did not reply to our inquiry on the matter.

  • DLA Piper Advises Aareal Bank on Pradera European Retail Parks Portfolio Financing

    DLA Piper has advised the Aareal Bank on providing EUR 360 million senior facility for Pradera European Retail Parks’ international retail property portfolio financing.

    According to DLA Piper, the portfolio comprises 17 retail properties in Germany, France, and Poland with a total of over 400,000 square meters of lettable area.

    Aareal Bank Group is a Wiesbaden-headquartered international property specialist, providing smart financings, software products, and digital solutions for the property sector and related industries.

    Pradera is a retail real estate, asset, investment, and fund management specialist active in continental Europe, the UK, and China.

    The DLA Piper team was led by Germany-based Partner Torsten Pokropp, and included the Czech Republic-based Partner Miroslav Dubovsky and Associates Marcel Janicek and Petr Varvarovsky, Poland-based Partners Mariusz Hyla and Michal Pietuszko, Counsel Bartlomiej Palusiak, Senior Associate Anna Jarczok, Associates Jaroslaw Spodar, Wojciech Sulimierski, and Maciej Rafalowski, Junior Associate Wojciech Sobieraj, and Paralegals Karol Danilczuk and Katarzyna Soszynska, as well as teams from Germany, Luxembourg, and UK.

    Aareal Bank’s in-house team included Katrin Schellberg, Aminata Omog, and Paulina Kotecka.

  • Cobalt and Walless Advise on Avena’s Sale of Grain Trade Business to Scandagra

    Cobalt has advised Avena Nordic Grain on the sale of its Estonian and Lithuanian grain trade businesses to the Scandagra Group. Walless advised Scandagra on the deal.

    According to Cobalt, Avena Nordic Grain is a subsidiary of the Apetit Group. Apetit is a food industry company firmly rooted in Finnish primary production. Apetit’s shares are listed on Nasdaq Helsinki.

    The Scandagra Group is an agriculture company operating in the Baltics.

    Cobalt’s team included Estonia-based Partners Peeter Kutman and Karina Paatsi, Specialist Counsel Jesse Kivisaari, and Senior Associate Heleri Tammiste and Lithuania-based Partner Juozas Rimas, Managing Associate Jovita Valatkaite, and Senior Associate Zygintas Voronavicius.

    The Walless team included Managing Partner Dovile Burgiene and Senior Associate Domas Sileika.