Category: News

Greenberg Traurig has advised Canadian Dream Industrial Real Estate Investment Trust on the acquisition of a corporate group holding a portfolio of 31 logistics properties in Europe, from Clarion Europe for EUR 882 million. Goodwin’s London office advised the seller.

The portfolio consists of properties in Germany, France, Spain, the Netherlands, the Czech Republic, and Slovakia. According to Dream, this acquisition is consistent with its strategy to add high-quality assets in strong European industrial markets, while improving portfolio quality, scale, and diversification.

Greenberg Traurig’s team was led by Partner Christian Schede.

Sorainen has advised Baltic media company Ekspress Grupp on the sale of Printall to Trukitung.

Financial details were not disclosed. 

The Printall printing house, established in 1971, has been a part of Ekspress Grupp since 1998. According to Sorainen, with the sale of Printall, Ekspress Grupp will exit the printing services market and will become a media company with an almost entirely digital revenue base.

Sorainen’s team included Partner Toomas Prangli, Senior Associate Robin Teever, and Associate Nele Suurmets.

Sorainen did not reply to our inquiry on the matter.

Editor’s note: After this article was published, Ellex announced that it had advised Trukitung, majority-owned by private individual Hans H. Luik, on the acquisition of Printall. The firm’s team was led by Partner Sven Papp.

Vulic Law has advised dairy product company Mlekara Sabac on the construction of a factory in Russia.

According to the firm, this represents “one of the biggest investments of a Serbian company in Russia.” Construction of the factory is set to start in the Moscow region next year, with the site meant to produce soft cheese and yogurts. “The Chamber of Commerce and Industry of the Russian Federation and the Government of the Moscow region will support the construction of the factory of Mlekara Sabac and projects of other Serbian companies that want to expand their business on the Russian market,” the firm further informed.

“This investment in Russia further strengthens Mlekara Sabac’s business and represents a significant step in the further development of economic relations between the Russian Federation and Serbia and we are proud to be part of it,” commented Vulic Law Managing Partner, Milos Vulic, who led the team working on the matter.

Cobalt has advised Estonian Peranto OU on the sale of UAB Mockavos Terminalas to AB Orlen Lietuva.

The terminal in Mockava was built in 2017 and occupies an area of 40 hectares. According to Cobalt, “its product storage capacity is 19,000 cubic meters, and its loading capacity amounts to 1.2 million tons of liquid petroleum products a year.”

According to the firm, “with this acquisition, AB Orlen Lietuva, a company owned by the Polish Oil Concern Orlen, has taken over control of the only liquid products loading terminal operated at Lithuania-Poland border.”

Cobalt’s team included Managing Partner Irmantas Norkus and Managing Associate Deimante Pagiriene.

Cobalt did not reply to our inquiry on the matter.

Walless has advised Mandatum Life on the sale of its life insurance business in the Baltics to the Lithuanian Invalda INVL group. 

According to Mandatum Life, the agreement signed on June 15, 2021 is estimated to be completed during the first half of 2022. The Baltic operations consist of three branch operations totaling 83 employees: Mandatum Life Estonia, Mandatum Life Latvia, and Mandatum Life Lithuania. 

“In the past year, Mandatum has reviewed its business strategies,” said Petri Niemisvirta, CEO of Mandatum Group. “The focus will be on the Finnish market and on wealth management in Finland and abroad with institutional clients. That is how we will provide our stakeholders with the greatest value. Our business in the Baltics has shown good results both financially and in great personnel and customer satisfaction numbers after its re-organization. Invalda INVL’s offer came at the right time for the company’s strategic changes.”

Walless did not reply to our inquiry on the matter.

Editor’s note: After this article was published, Sorainen informed CEE Legal Matters that it had advised Invalda INVL on the deal. The firm’s team included Partners Mantas Petkevicius and Tomas Kontautas, Counsels Janis Bite, Piibe Lehtsaar, and Monika Malisauskaite-Vaupsiene, Senior Associates Mindaugas Baniulis, Agne Sovaite, and Vitalija Impoleviciene, and Associate Nele Suurmets.

Walless subsequently informed us that their team included Partners Sintija Radionova, Hannes Vallikivi, Rolan Jankelevitsh, Gediminas Reciunas, and Aiste Medeliene, Associated Partners Alina Makovska and Darius Miniotas, Senior Associates Kaisa Uksik and Enrika Tamasauskaite, and Associates Greta Liutkute, Baiba Krievina Sutora, and Kaisa Saarmann.

Karanovic & Partners and Dentons have advised the Green for Growth Fund on its EUR 3.5 million equity investment in Thor Impex Skopje, partially funding the construction and operation of a 36-megawatt wind farm near Bogoslovec in North Macedonia.

According to Karanovic & Partners, the Bogoslovec project is directly aligned with the GGF’s sustainable investment objective and should directly contribute to the implementation of North Macedonia’s Renewable Energy Action Plan, which aims to reach a 50% share of renewable energy in electricity production by 2024.

Dentons’ team included Partner Nadia Cansun and Senior Associate Merve Akkus.

Glatzova & Co, working with global counsel Hengeler Mueller, has advised Chinese tool manufacturer Greatstar Group on its acquisition of the Behrens Group. According to Hengeler Mueller, Alrud, Soltysinski Kawecki & Szlezak, and Wolf Theiss advised the buyer on the Russian, Polish, and Austrian aspects of the deal and Barnes & Thornburg, Bonelli Erede Lombardi Pappalardo, Bruun & Hjejle, Corrs Chambers Westgarth, Jeantet, Macfarlanes, Mattos Filho, Niederer Kraft Frey, Schjodt, Uria Menendez, and Van Bael & Bellis advised the buyer in various other jurisdictions.

The Behrens Group is a German manufacturer and retailer of tools and fasteners.

Hengeler Mueller’s team consisted of Berlin-based Partners Martin Tasma, Jens Wenzel, Daniel Kress, Fabian Quast, and Jan Bonhage, Counsel Fabian Seip, Senior Associates Erasmus Hoffmann, Cornelia Gersch, and Michael Schramm, and Associates Fabian Berdin, Moritz Muller-Leibenger, Nicolas Kutscher, and Jasper Bothe; Munich-based Partner Markus Ernst and Senior Associates Tobias Schwab and Carolin Raspe; Dusseldorf-based Partner Alf-Henrik Bischke and Senior Associate Tobias Bieber; and Frankfurt-based Partner Hendrik Bockenheimer.

Glatzova & Co’s team included Managing Partner Vladimira Glatzova and Partner Veronika Pazmanyova. The firm did not reply to our inquiry about the deal.

Sayenko Kharenko, Turcan Cazac, Linklaters, and Homburger have advised joint lead managers and bookrunners Citigroup, ING, and Renaissance Capital on the USD 400 million issuance of 8.45% secured notes due 2026 by the Trans-Oil Group of Companies. Gladei & Partners, Baker McKenzie, Arthur Cox, and Harneys Aristodemou Loizides Yiolitis advised the issuer and the guarantors.

According to Sayenko Kharenko, the Trans-Oil Group of Companies is a vertically integrated agro-industrial holding with operating facilities in Moldova, Ukraine, Romania, and Serbia. The new issuance was coupled with a tender offer launched by Trans-Oil in relation to USD 300 million in outstanding secured notes that it had issued in 2019. Sayenko Kharenko also advised on the 2019 issuance (as reported by CEE Legal Matters on July 31, 2019).

Sayenko Kharenko’s team was led by Partner Igor Lozenko and included Senior Associate Anton Kerimov-Varanytskyi, Associates Oles Trachuk and Vladyslava Mitsai, and Junior Associate Oleksandr Motin.

Gladei & Partners’ team included Managing Partner Roger Gladei, Senior Associate Dan Nicoara, Associate Vlad Roibu, and Junior Associate Vlad Bercu.

Turcan Cazac’s team included Partners Vadim Taigorba, Ana Galus, Iulia Furtuna, and Mariana Stratan, Associates Mihai Gutu and Cristian Papanaga, and Junior Associates Vasile Gavrilita and Catalina Birsanu.

Selih & Partners has advised OTP on the acquisition of Nova KBM bank in Slovenia from Apollo and EBRD. Paul Weiss and Wolf Theiss advised the sellers on the deal.

The deal is expected to be finalized in the second quarter of 2022, pending regulatory approval. 

Selih & Partners’ team included Partners Natasa Pipan Nahtigal, Jera Majzelj, Spela Remec, and Mia Kalas.

The Wolf Theiss team included Ljubljana-based Managing Partner Markus Bruckmuller, Partners Klemen Radosavljevic and Klara Miletic, Counsels Petra Jermol and Tjasa Lahovnik, Senior Associates Neja Nastran and Simon Tecco, and Associates Ana Zorn, Iva Sturm, Larisa Primozic, and Jernej Renko, Vienna-based Partners Guenter Bauer and Robert Wagner, and Budapest-based Partner Janos Toth and Counsel Melinda Pelikan.

Filip & Company and Linklaters have advised Banca Transilvania on its RON 213 million acquisition of the shares held by Getin Holding in the Idea Bank Group in Romania. Sayenko Kharenko and Nestor Nestor Diculescu Kingston Petersen have advised the seller on the matter.

The transaction remains contingent on regulatory approval by the Financial Supervisory Authority, the Competition Council, and the National Bank of Romania.

The deal includes four companies operating under the Idea brand in Romania – Idea Bank, Idea Leasing, Idea Insurance Broker, and Idea Investment – with 46 units and RON 2.85 billion in assets.

Banca Transilvania is a financial group active in South-Eastern Europe with over 3.2 million customers, 9,000 employees, and 500 retail units.

The Getin Holding Group is active in retail banking, leasing, brokerage services, factoring, and consulting in Poland, Ukraine, and Romania and is listed on the Warsaw Stock Exchange.

“This acquisition is part of Banca Transilvania Financial Group’s strategy to continue launching online banking initiatives. Idea Bank . . . will be a digital banking hub through which we will launch and develop creative ideas and digital solutions for current and future customers,” declared Horia Ciorcila, BT Chairman of the Board, while thanking Getin Holding management and “everybody that has contributed to the success of this transaction.”

This is the second Getin Holding deal Sayenko Kharenko advised on this year, after assisting in the sale of Idea Bank Belarus to MTBank (as reported by CEE Legal Matters on April 9, 2021). Sayenko Kharenko’s team included Partner Alina Plyushch, Senior Associate Dmitriy Riabikin, and Associate Yaroslava Chernyshchuk.

Filip & Company and BT have also worked together before, most recently on Banca Transilvania’s Acquisition of Microinvest in Moldova (as reported by CEE Legal Matters on January 21, 2020). The Filip & Company team was led by Partners Alina Stancu Birsan and Cristina Filip and included Partner Olga Nita, Senior Associate Rebecca Georgiana Marina, and Associates Lavinia Cazacu and Alexandru Moraru.

NNDKP’s team was led by Partner Alina Radu and included Partner Corina Dumitru and Managing Associate Stefan Ionescu.

Linklater’s team was led by Partners Daniel Cousens and Marcin Schulz and Counsel Christopher Quinn and included Senior Associates Maciej Ficinski, Wojciech Kobylinski, Klaudia Owsianka, and Szymon Sieniewicz, and Associate Daria Wojciechowska.

Editor’s Note: In November 2021, both Filip & Company and Sayenko Kharenko announced the deal had closed. 

The updated Filip & Company team included Partners Alina Stancu Birsan, Cristina Filip, and Catalin Suliman and Senior Associates Rebecca Marina, Camelia Iantuc, Dragos Iordache, and Lisaura Ungureanu.

Sayenko Kharenko’s team included Partner Alina Plyushch, Senior Associate Dmitriy Riabikin, and Associate Anastasiia Yermolenko.