CEE Legal Matters

Category: News

  • NGL Symbio Law Firm Alliance Prepares for Operational Launch in CEE

    The NGL Symbio law firm alliance has announced its creation in five countries of CEE, and its plans to be fully operational by January 1, 2021.

    NGL Symbio’s founding members include Poland’s NGL Legal, Hungary’s Erdos⎜Katona, the Czech Republic’s Rowan Legal, Slovakia’s HKV, and Romania’s Biris Goran.

    According to a statement released by NGL Symbio, “we’re moving forward and we are very proud to share that we have cemented our alliance of independent law firms with five partners in the CEE and we have just signed our RoC – Rules of Cooperation – based on our TRAQ values. This team becomes the heart of our alliance and we aim to offer support to our local and regional clients in the global economy. We strongly believe that our model will help regional clients to optimize management processes by making them more transparent, lean, and cost effective. Signing the RoC marks a significant milestone on our way to become fully operational on January 1, 2021.”

    “I firmly believe NGL Symbio offers a solution that is unique on the market as this alliance structure is built to respect the independence of each member, but at the same time, we are putting in place processes and tools that will allow to us create an organization that will have integrated services necessary to conduct cross-border projects,” commented NGL Legal and NGL Symbio Managing Partner Krzysztof Wiater. “In that way, we will create an alternative choice for international law firms. Our offer is directed towards large and mid-market clients operating either locally and/or in the CEE/BBA (Baltics, Balkans, Adriatics) region. Additionally, we are working on an offering for start-up companies which will address specifics for this type of business. Recently, we have formalized our alliance in the CEE with our partners in the Czech Republic – Rowan Legal, Hungary – Erdos⎜ Katona, Poland – NGL Legal, Romania – Biris Goran, and Slovakia – HKV Law Firm, supported by NGL Services in all operational aspects. We believe such a formula is quite innovative itself as alongside the integration of services we are equally focused on building efficiency in operation and project management. Aside from CEE we also developed strong ties in the BBA region, and we are well connected in other jurisdictions (EMEA, APAC).”

  • Ioana Knoll-Tudor and Bertrand Barrier Promoted to Global Partner at Jeantet

    Jeantet Local Partners Ioana Knoll-Tudor and Bertrand Barrier have been promoted to Global Partner at Jeantet in Budapest and Kyiv, respectively.

    According to Jeantet, Knoll-Tudor’s “resolutely international career path has led her to develop recognized expertise in international arbitration for both commercial and investment matters, facilitated by her capacity to represent clients in five languages (French, English, Spanish, Italian and Romanian). Ioana has been acting as counsel and arbitrator on cases arising from complex cross-border transactions and construction projects for both French and international clients. Her in-depth knowledge of the Central and South-Eastern Europe region enables her to intervene often on issues related to this region. Ioana has been managing Jeantet’s Budapest office since 2017.”

    Knoll-Tudor has an M.A. from the College of Europe in Natolin and a Ph.D. in International Law from the European University Institute. Before joining Jeantet, she spent eight and a half years with Gide Loyrette Nouel.

    Bertrand Barrier joined Jeantet in 2015 as Local Partner and manager of the firm’s Kyiv office. According to the firm, “for nearly 20 years, Bertrand has been assisting international promoters and foreign investors with their mergers & acquisitions in both France and Ukraine within the framework of their cross-border investment projects, as well as transactions involving the implementation of complex contracts in key sectors such as aviation, energy, and retail.”

    Barrier has an LL.M. from Avocat au Barreau de Paris. Prior to joining Jeantet, he spent almost two years at HHP in Paris and over 13 years at Gide Loyrette Nouel.

    “This decision, taking into account the particular economic period, reflects Jeantet’s determination to pursue its development, particularly through internal promotion,” commented Jeantet’s Co-Managing Partner Karl Hepp de Sevelinges. “We are proud of our two new partners who were coopted thanks to their solid skills and brilliant careers within the firm.”

  • Kambourov & Partners Advises Bulgartransgaz on Acquisition of Stake in Gastrade

    Kambourov & Partners has advised Bulgartransgaz EAD on its acquisition of a 20% stake in Gastrade S.A.

    Financial aspects of the acquisition were not disclosed.

    Gastrade operates natural gas systems in Greece. It is the developer of the liquid natural gas terminal near Alexandroupolis, in Greece.

    Bulgarian national gas transmission operator, Bulgartransgaz, entered the Greek market after a recent agreement was signed between the governments of the two countries. According to Kambourov & Partners, “Bulgartransgaz EAD became a shareholder of the Alexandroupolis LNG terminal which is identified as a project of common interest by the European Commission, and is expected to begin operations in 2022.”

    Kambourov & Partners’ team included Managing Partner Vladimir Rangeloff, Partners Ivo Alexandrov and Veronika Hadjieva, and Senior Associate Angel Rizov.

  • Ellex and Triniti Advise on Quaero European Infrastructure Fund II’s Acquisition of Digitalas Ekonomikas Attistibas Centrs

    Ellex has advised Quaero European Infrastructure Fund II on the acquisition of 100% of the shares of Digitalas Ekonomikas Attistibas Centrs from Solo Investments SIA, Astondesmit Astoni SIA, Duo Investicijas SIA, and KFP SIA. Triniti advised the sellers on the transaction.

    Financial details were not disclosed. 

    According to Ellex, “QEIF II is a EUR 500 million-infrastructure fund managed by Quaero Capital, an independent asset management company. QEIF II invests across Europe in essential infrastructure projects in sectors such as energy & renewable, social infrastructure, telecom, utilities, and transport. As a new shareholder, QEIF II will consolidate DEAC business model, strengthen the company’s financial resources, and accelerate its development in the coming years.”

    Digitalas Ekonomikas Attistibas Centrs is a carrier-neutral data center operator in CEE.

    Ellex previously advised Quaero on its June 2020 acquisition of UAB Duomenu Logistikos Centras from the Ignitis Group and Litgrid (as reported by CEE Legal Matters on June 15, 2020). 

    The Ellex Valiunas team in Lithuania included Partner Paulius Gruodis, Senior Associate Mantas Juska, and Associates Arvydas Gruseckas and Augustinas Macionis, while the Ellex Klavins team in Latvia included Senior Partner Raimonds Slaidins and Senior Associate Reinis Sokolovs.

    Triniti’s team included Latvian Partner Ugis Treilons and Senior Associate Krista Punta.

  • SPCG and Garrigues Advise on Oriens Bijou’s Sale of Tous Stores in Poland, Czech Republic, and Slovakia

    Studnicki, Pleszka, Cwiakalski, Gorski has advised the Oriens Bijou Group on the sale of the network to the Tous group. Garrigues advised Tous on the deal.

    According to SPCG the Tous brand has been present in Poland for over ten years, during which period Orens Bijou operated and grew its franchise-based retail sales of Tous products in Poland, the Czech Republic, and Slovakia. “The Tous Group has decided to start an independent retail sale of Tous products in Poland, the Czech Republic, and Slovakia,” SPCG reports. “The fastest way to achieve this was to take over the operations of the Oriens Bijou Group.” 

    SPCG’s team included Partners Zbigniew Cwiakalski, Wawrzyniec Rajchel, and Adam Kostrzewa, Senior Associate Lukasz Przyborowski, and Associates Ewelina Rumak, Grzegorz Keler, and Marcin Balicki.

    Garrigues’ team included Senior Associates Mateusz Przygodzki, Marek Karasiewicz, Eliza Gluszko, Filip Raubo, and Dariusz Nowak.

  • Rymarz Zdort and Prica & Partners Advise Innova Capital on Sale of Trimo to Kingspan Group

    Rymarz Zdort and Prica & Partners have advised Innova Capital on the sale of 100% of the shares of subsidiary Trimo d.o.o. to Kingspan Group plc. Jadek & Pensa reportedly also advised Innova Capital on the deal, which remains subject to regulatory approvals and is expected to be completed in the fourth quarter of 2020.

    Financial details were not disclosed.

    Slovenian company Trimo provides fireproof solutions for the construction of facades and roofs, with a sales network across 30 countries and production facilities in Slovenia and Serbia. According to Rymarz Zdort, “the acquisition is a good strategic fit for Kingspan in respect of its product portfolio, positioning and geographic coverage. Once acquired by Kingspan, Trimo will be able to leverage its potential using Kingspan’s large international distribution network.” 

    The Kingspan Group is a building materials manufacturer founded in Ireland in 1965 that operates in more than 70 countries around the world.

    Rymarz Zdort’s team consisted of Managing Partner Pawel Zdort, Partners Iwona Her and Jakub Zagrajek, Counsel Irmina Watly, and Senior Associates Aleksandra Kabac and Leszek Cyganiewicz.

    The Prica & Partners’ team providing Serbian advice included Partner Darija Ognjenovic and Associate Veljko Nesic.

  • Hillmont Partners Secures Win for Komaksavia Airport Invest Ltd in Arbitration Against Republic of Moldova

    Hillmont Partners has obtained an award for interim measures for client Komaksavia Airport Invest Ltd in arbitration against the Republic of Moldova related to the concession agreement for the Chisinau International Airport. 

    According to Hillmont Partners, “despite transformational investments into the airport since 2013, the investor’s business has recently come under huge political pressure that seeks to force it to breach its obligations under the concession agreement with the Agency of Public Property of the Republic of Moldova through a campaign openly and publicly admitted by Moldovan state officials. In order to protect the investor’s rights … arbitration at the Arbitration Institute of the Stockholm Chamber of Commerce [was] initiated. On August 2, 2020, Hillmont Partners successfully obtained an arbitral award for interim measures against the Republic of Moldova that explicitly prohibits the state from performing certain actions to terminate the concession agreement.”

    The Hillmont Partners team included Co-Managing Partner James Hart, Counsel Andrii Chornous, and Senior Associate Sergii Regeliuk. 

  • CMS Advises KEXIM on Financing for Grain Terminal Holdings

    CMS has advised KEXIM, the Export-Import Bank of Korea, on a USD 36 million financing deal with Grain Terminal Holdings — a Singapore-based joint venture between Posco International and the Orexim Group. Posco International was advised by South Korea’s Jipyong law firm, and the Orexim Group was advised by Harneys’ Cyprus office.

    CMS’s multi-office team included Bulgarian Partner Elitsa Ivanova and Associate Katerina Hristova, Ukrainian Partner Ihor Olekhov, Counsel Kateryna Chechulina, Senior Associate Orest Matviychuk, and Associates Ivan Pshyk and Iryna Kravchenko, and Singaporean Partner Toby Grainger, Senior Associate Sam Ng, and Associate Eric Lai.

    Editor’s Note: After this article was published, Sayenko Kharenko informed CEE Legal Matters that it had advised the Orexim Group on the deal. The firm’s team consisted of Partners Igor Lozenko and Oleksandr Nikolaichyk and Associates Denis Nakonechnyi and Ilhar Hakhramanov.

    Subsequently, Aequo announced that it had advised Posco International on the deal. Aequo’s team included Partner Anna Babych, Of Counsel Maria Tsabal, and Associate Olesia Mashtaler.

  • Deloitte Legal and Kaevando & Partnerid Advise on Lonas Acquisition of Estonian Bedroom Product Seller

    Lawyers from Deloitte Legal’s Lithuanian and Estonian offices have advised Lonas UAB, a manufacturer of mattresses and beds, on its acquisition of Estonia’s Dreamland Home OU, a retailer and wholesaler of bedroom products, from ITIS Holding OU. Kaevando & Partnerid advised the sellers on the deal.

    According to Deloitte Legal, “this transaction enables Lonas UAB to enter Estonian market through acquisition of a competitor. It is a first cross-border acquisition completed by Lonas UAB.”

    Deloitte Legal’s team included Lithuanian Partner Tomas Davidonis and Managing Associate Tomas Mieliauskas and Estonian Partner Marko Pikani.

    The Kaevando & Partnerid team included Partners Madis Saar and Marko Kaevando.

  • Sorainen and Ellex Advise on Bite Group’s EUR 700 Million Bond Issuance and Financing

    Sorainen has advised the Bite Group on a EUR 700 million bond issuance and refinancing. Latham & Watkins and Ellex reportedly advised initial bond purchasers and mandated lead arrangers Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, ING Bank N.V., London Branch, and UniCredit Bank AG.

    Bite Group is a telecommunications and media group based in the Baltics that is controlled by international asset management company Providence Equity Partners.

    “The proceeds from the bond offering, together with cash in hand, will be used to repay Bite Group‘s existing financial debt and to return capital to shareholders,” Sorainen reported. “To secure the financing the issuer’s group will provide collateral packages in Lithuania, Latvia, and Luxemburg.”

    According to Sorainen, the transaction consisted of two parts: First, “a bond issue by PLT VII Finance S.a.r.l., the parent company of Bite Group, which borrowed EUR 650 million in the international capital markets by issuing floating and fixed-rate notes due 2026,” of which “EUR 400 million of senior secured fixed rate notes and EUR 250 million of senior secured floating rate notes;” and second, “a EUR 50 million revolving syndicated financing transaction.”

    Sorainen’s team included Partner Augustas Klezys, Rudolfs Engelis, and Saule Dagilyte, Counsel Stasys Drazdauskas, and Senior Associates Lina Ragainyte, Dalia Augaite, Rasa Mikutiene, Inese Heinacka, Jane Eespold, and Kaido Kunnapas.

    The pan-Baltic team of Ellex included, in Estonia, Partner Ermo Kosk, Counsel Rain Raa, and Senior Associates Kadi Sink and Sandra Vark; in Latvia. included Associate Partner Valters Diure, Counsel Zinta Jansons, Senior Associate Beata Plocina, and Associate Marta Cera; and in Lithuania, Partner Giedrius Stasevicius, Associate Partner Migle Petkeviciene, Senior Associate Gintare Skroliene, Associates Dovydas Gudziunas, Paulius Vaitkevicius, and Edita Sinickaite, and Junior Associate Ainis Augustas Petrulis.