CEE Legal Matters

Category: News

  • Dentons, Kirkland & Ellis, and Noerr Advise on GIC’s Acquisition of Maximus Logistics Real Estate Portfolio from Apollo Global Management

    Dentons, Kirkland & Ellis, and Noerr Advise on GIC’s Acquisition of Maximus Logistics Real Estate Portfolio from Apollo Global Management

    Dentons and Kirkland & Ellis have represented GIC, Singapore’s sovereign wealth fund, on the acquisition of the Maximus logistics real estate portfolio from funds managed by Apollo Global Management, a US-based private equity firm. Noerr advised the sellers on the transaction, which was signed in December 2019 and closed on January 31, 2020, and which was valued at approximately EUR 950 million.

    The one million square meter portfolio includes 28 assets in logistics hubs across Europe, including Germany, Poland, Slovakia, Netherlands, Belgium, and Austria. Through the acquisition, GIC plans to expand its European logistics platform, P3 Logistic Parks. Dentons describes the deal as “one of the largest real estate investment deals signed in Europe in 2019 and the largest in Germany.”

    Dentons’ team was led by Prague-based Partner Evan Lazar and included Prague-based Partner Stewart Middleman and Bucharest-based Partner Perry Zizzi, as well as Counsels Sona Taghiyeva and Gary Maguire, and Senior Associate Lawrence Florescu, as well as, among others, Partner David Zafra Carollo, Counsel David Lange, Senior Associate Alexander Muhleisen, and Associates Arndt Dobroschke and Michael Bayliss in Germany; Partner Dirk-Jan Gondrie and Associate Stephanie Proost in Amsterdam; Managing Counsel Martin Mendel and Associates Tatiana Mergesova and Sona Kurillova in Bratislava; Partner Piotr Staniszewski, Counsel Michal Siwek, Aenior Associate Joanna Misztal-Dzitko, and Associates Krzysztof Mielech, Karolina Bandzul, and Kamil Igielski in Warsaw.

    Noerr’s team included Warsaw Associated Partner Pawel Zelich and Bratislava-based lawyers Adam Pichler and Martin Tupek, along with, in various German offices, lawyers Holger Alfes, Christoph Brenzinger, Carmen Bohn, Janina Diesem, Henrik Dornscheidt, Michaela Engel, Florian-Felix Marquardt, Ariane Neubauer, Bartosz Ostrowski, Ulrike Sommer, Martin Tupek, and Aleksandra Vujinovic.

  • Dentons, Kirkland & Ellis, and Noerr Advise on GIC’s Acquisition of Maximus Logistics Real Estate Portfolio from Apollo Global Management

    Dentons, Kirkland & Ellis, and Noerr Advise on GIC’s Acquisition of Maximus Logistics Real Estate Portfolio from Apollo Global Management

    Dentons and Kirkland & Ellis have represented GIC, Singapore’s sovereign wealth fund, on the acquisition of the Maximus logistics real estate portfolio from funds managed by Apollo Global Management, a US-based private equity firm. The value of the transaction was approximately EUR 950 million. The deal, which was signed in December 2019 and closed on January 31, 2020.

    The 1 million square meter portfolio includes 28 assets in logistics hubs across Europe, including Germany, Poland, Slovakia, Netherlands, Belgium, and Austria. Through the acquisition, GIC plans to expand its European logistics platform, P3 Logistic Parks.

    Dentons describes the deal as “one of the largest real estate investment deals signed in Europe in 2019 and the largest in Germany.” The firm’s cross-border team was led by Partner Evan Lazar and included Partners Stewart Middleman and Perry Zizzi, Counsels Sona Taghiyeva and Gary Maguire, and Senior Associate Lawrence Florescu, as well as, among others, Partner David Zafra Carollo, Counsel David Lange, Senior Associate Alexander Muhleisen, and Associates Arndt Dobroschke and Michael Bayliss in Germany; Partner Dirk-Jan Gondrie and Associate Stephanie Proost in Amsterdam; Managing Counsel Martin Mendel and Associates Tatiana Mergesova and Sona Kurillova in Bratislava; Partner Piotr Staniszewski, Counsel Michal Siwek, Aenior Associate Joanna Misztal-Dzitko, and Associates Krzysztof Mielech, Karolina Bandzul, and Kamil Igielski in Warsaw.

    Noerr’s team included Warsaw Associated Partner Pawel Zelich and Bratislava-based lawyers Adam Pichler and Martin Tupek, along with, in various German offices, lawyers Holger Alfes, Christoph Brenzinger, Carmen Bohn, Janina Diesem, Henrik Dornscheidt, Michaela Engel, Florian-Felix Marquardt, Ariane Neubauer, Bartosz Ostrowski, Ulrike Sommer, Martin Tupek, and Aleksandra Vujinovic.

  • Schoenherr Announces Partner Promotions in Poland, Austria, Romania, and Serbia

    Schoenherr Announces Partner Promotions in Poland, Austria, Romania, and Serbia

    Schoenherr lawyers Pawel Halwa and Thomas Kulnigg have been promoted to Equity Partner as part of the firm’s annual promotion round, and lawyers Constantin Benes, Leon Kopecky, Guenther Leissler, Laurenz Schwitzer, Manuela Zimmermann, Georgiana Badescu, Madalina Neagu, and Milos Lakovic have been promoted to Contract Partner.

    Poland Managing Partner Pawel Halwa graduated from the Adam Mickiewicz University in Poznan. Before joining Schoenherr in 2011 he spent four years with EY Law, seven years with Domanski Zakrzewski Palinka, and a year and a half with Salans (now Dentons). According to Schoenherr, “he has longstanding experience as a cross-border transactional lawyer, specialized in corporate/M&A, regulatory, and banking and finance law. As office Managing Partner in Poland, he plays an important role in further strengthening Schoenherr’s CEE footprint.” 

    Austrian lawyer Thomas Kulnigg joined Schoenherr in 2006, directly after graduating from the University of Vienna. He specializes in corporate/M&A and played a leading role in the establishment of Schoenherr Technology & Digitalization group. According to the firm, “he has made a name for himself within the technology & digitalization industry and the start-up/venture capital scene.”

    Fellow Austrian lawyer Constantin Benes, who specializes in real estate and construction law, has been with Schoenherr for more than ten years. According to the firm, “he advises clients in connection with construction projects, urban developments, real estate transactions as well as construction litigation.” He graduated from the Karl-Franzens University in Graz and holds an LL.M. from the Columbia Law School. 

    Leon Kopecky, also in Austria, joined Schoenherr in 2015. He focuses on international arbitration, and according to the firm, “his vast experience helped the Schoenherr team gain international recognition and win among the largest investment and commercial arbitrations in the region.” He holds Master’s degrees from the Universities of Edinburgh, Rotterdam, Hamburg, Manchester, and Vienna. Prior to joining Schoenherr he spent three years with both Freshfields Bruckhaus Deringer and Skadden, Arps, Slate, Meagher & Flom.

    Guenther Leissler heads the Data Protection group at Schoenherr. According to the firm, “having joined the regulatory practice group in Vienna in 2006, he specializes in data protection, gaming and telecommunications law [and] he represents various clients in all kinds of privacy-related proceedings.” He received both a Magister’s degree and a Ph.D. from the University of Vienna.

    Laurenz Schwitzer joined the banking, finance and capital markets practice group at Schoenherr in Vienna in 2013 after spending two and a half years with the Austrian Foreign Ministry and almost three years with Deloitte Financial Advisory. According to the firm, “he has vast experience in complex asset financing and financial restructuring with special focus on real estate finance, mezzanine financing, direct lending, and green finance.” He holds degrees from the University of Economics and Business in Vienna and the University of Vienna. 

    Manuela Zimmermann, who joined Schoenherr in 2010, is admitted to practice both in Austria and Germany. According to the firm, “she specializes in insurance contracts and insurance regulatory law, and primarily advises national and international insurance companies on their market entries and daily legal matters.” She obtained her law degree from the TU University in Dresden.

    Georgiana Badescu, head of Schoenherr’s EU & Competition practice group in the firm’s Bucharest office, joined the firm in 2017 after almost 12 years with Voicu & Filipescu. She holds an LL.M. from the University of Pantheon Sorbonne and an LL.M. from the University of Bucharest. 

    Madalina Neagu joined Schoenherr’s Corporate/M&A practice group in Bucharest in 2008 after five years with Bostina & Asociatii and a year with Nestor Nestor Diculescu Kingston & Petersen. According to the firm, she has “many years of experience in large M&A transactions and takeovers, competition matters, acquisition finance, and the privatization of state-owned companies.” She holds an LL.B. from the University of Bucharest. 

    Milos Lakovic joined Moravcevic Vojnovic and Partners in cooperation with Schoenherr in Serbia in 2007. According to the firm, “he specializes in regulatory matters with vast energy-law experience, leading the highly ranked energy department in the Belgrade office.” He graduated from the University of Novi Sad. 

    “I am delighted that we are recognizing such an exceptional and international group of partners and counsels this year,” commented Managing Partner Michael Lagler. “They will play an important role in delivering the advice our clients demand in an increasingly complex world, requiring expertise and experience across practice groups and industries.” 

    In addition the firm reported that it’s new Steering Committee took over on February 1, 2020, consisting of Partners Michael Lagler, Gudrun Stangl, Martin Ebner, Alexander Popp, and Slaven Moravcevic.

  • Noerr and Penkov, Markov & Partners Advise Aurelius Equity Opportunities on Acquisition of Businesses from Woodward

    Noerr and Penkov, Markov & Partners Advise Aurelius Equity Opportunities on Acquisition of Businesses from Woodward

    Noerr and Penkov, Markov & Partners have advised private equity firm Aurelius Equity Opportunities SE & Co. KGaA on the acquisition of the Renewable Power Systems and Protection Relays businesses from NASDAQ-listed Woodward, Inc.

    The combined businesses, which have more than 400 employees, generated sales of approximately USD 80 million in financial year 2019. 

    Renewable Power Systems produces frequency convertors and other key components used in wind turbines at its production sites in Kempen (Germany) and Krakow. The Protection Relays business develops and markets mainly medium and high-voltage protection relays for industrial applications. Aurelius will separate the two businesses from the structures of Woodward and set them up as independent businesses.

    Closing is expected to occur within the next few months.

    Noerr’s team was jointly led by Germany-based Partners Laurenz Tholen and Christian Pleister and included Partners Sebastian Wundisch and Michael Reiling and Associated Partners Torsten Kraul and Stefan Schwab, as well as Poland-based Associated Partner Ludomir Biedecki, Associate Mateusz Slodczyk, and lawyer Marta Duchlinska. Also involved were German Associates Anna Olbrys-Sobieszuk, Stefanie Heinemann, Robert Marx, Diana Richter, Christoph Ickenroth, Dorian Legel, Natalie Oei, and Katja Schmitt. 

    The Penkov, Markov & Partners team included Senior Partner Vladimir Penkov, Managing Partner Nikolay Cvetanov, and Attorneys at Law Boris Lazarov and Radost Georgieva.

  • Norton Rose Fulbright Names Ayse Yuksel Mahfoud as Head of Cross-Border Practices

    Norton Rose Fulbright Names Ayse Yuksel Mahfoud as Head of Cross-Border Practices

    Norton Rose Fulbright today named Ayse Yuksel Mahfoud as its Head of Cross-Border Practices, a new position at the firm that it says “will strategically address clients’ needs for high-quality cross-border legal advice and cutting-edge market intelligence.”

    A corporate partner based in New York, Yuksel Mahfoud is also Norton Rose Fulbright’s Istanbul Partner-in-Charge. In her new role, she will work with colleagues to develop the firm’s cross-border practice across all areas of law.

    “With more than 50 offices on six continents, we have the platform and personnel to meet the cross-border needs of our impressive international clientele,” said Norton Rose Fulbright’s US Managing Partner Jeff Cody. “Our clients will benefit immensely from Ayse’s vast experience in handling global matters and her familiarity with the firm’s capabilities.”

    Yuksel Mahfoud, who has served on Norton Rose Fulbright’s Global Executive Committee since 2017, commented: “The combination of our global client base and our worldwide platform means that we have tremendous opportunities to better assist our clients with their cross-border business. In this exciting new role, my focus will be to collaborate with our partners and clients to assess cross-border needs and engage with cross-border multidisciplinary teams to address those needs.”

    Yuksel Mahfoud began her career with Dewey & LeBoeuf in 1998, and in 1998 moved to Debevoise & Plimpton. After five years there she joined Chadbourne & Parke, and she opened that firm’s Istanbul office in September 2011. Chadbourne & Parke merged with Norton Rose in 2017. She received her JD from Columbia Law School and her BA from Harvard University.

  • Filip & Company, Vernon David & Associates and Turcan Cazac Advise on Banca Transilvania’s Acquisition of Microinvest

    Filip & Company, Vernon David & Associates and Turcan Cazac Advise on Banca Transilvania’s Acquisition of Microinvest

    Filip & Company, Freshfields Bruckhaus Deringer, and Vernon David & Associates have advised Banca Transilvania on the acquisition of 100% of the share capital of Microinvest. Osborne Clarke and Turcan Cazac advised the sellers on the transaction, which remains contingent on regulatory approval.

    Microinvest specializes in financing microenterprises in Moldova.

    The Filip & Company team included Partners Cristina Filip and Alina Stancu Birsan and Associate Alina Stoica.

    The Vernon David & Associates team included Partner Diana Neagu and Senior Associate Roman Ivanov.

    The Turcan Cazac team included Partners Octavian Cazac and Ana Galus and Junior Associate Mihai Gutu.

  • Deloitte Legal Advises Enva on Acquisition of SAR Recycling

    Deloitte Legal Advises Enva on Acquisition of SAR Recycling

    The Lithuanian office of Deloitte Legal has participated in a multi-jurisdictional team advising Enva, a provider of recycling and specialist resource recovery solutions in the UK and Ireland, on its acquisition of SAR Recycling Ltd.

    SAR Recycling, based in England, is a provider of battery collection and recycling services.

    “SAR’s capability is a logical extension for our specialist waste recovery business, particularly in the automotive and workshop sector,” said Enva Managing Director Simon Dick. “We are delighted with the acquisition and are looking forward to working closely with the SAR team to grow and develop the business especially as emerging battery chemistries become more prevalent.”

    Arvydas Pocevicius, General Manager of SAR Recycling, also commented, “I and the rest of the SAR team are excited to join Enva. We are looking forward to continuing to provide high-quality, consistent service and to supporting the Enva ethos of further developing our recovery processes and end markets.” 

    Deloitte Legal’s team in the UK consisted of Director Joanna Jowitt and Consultant Rachael McGurgan, while its team in Lithuania included Managing Associate Tomas Mieliauskas and Associate Andrej Jemeljanov.

  • Nazali Legal & Tax Opens Russian Office

    Nazali Legal & Tax Opens Russian Office

    Nazali Legal & Tax Services has opened an office in Moscow, led by Partner Altinay Sheralieva.

    According to Nazali, the office “will provide support to customers who do business in Russia or have business relations with Russia in all kinds of legal and tax issues with the principle of ‘solution at one door.’ In addition, [the] office will advise customers on issues that fall under the jurisdiction of Ukraine, Belarus, and Turkic Republics, where Russian is spoken.”

    Sheralieva led Nazali’s Russian Desk, which the firm created last summer (as reported by CEE Legal Matters on September 3, 2019). Nazali describes her as “experienced in a wide range of issues, including legal due diligence, merger and acquisitions, corporate law and contracts law,” and reports that “she provides legal consultancy to the Turkish companies doing business in Russian Federation and represents them in local courts.” According to the firm, “she has extensive experience in construction, mining, automotive, tourism, food, FMCG, aviation industries [and] conducted multi-jurisdictional legal due diligence, merger and acquisition, restructuring projects for Turkish investors, drafted agreements within the scope of turn-key construction projects.”

  • Sorainen and A&O Advise Sage on Acquisition of CakeHR

    Sorainen and A&O Advise Sage on Acquisition of CakeHR

    Sorainen and Allen & Overy have advised Sage, a UK based company specializing in integrated accounting, payroll, and payment systems, on its acquisition of CakeHR, a Latvian startup that offers a native cloud solution that for HR tasks for small businesses.

    The Sorainen team was led by Estonia Managing Partner Toomas Prangli and included Estonian Senior Associate Juulika Aavik and Latvian Senior Associate Janis Bite.

    Sorainen did not reply to our inquiries on the matter.

  • Sorainen and Ellex Advise on Financing of Veho’s Acquisition of Silberauto

    Sorainen and Ellex Advise on Financing of Veho’s Acquisition of Silberauto

    Finland’s Castren & Snellman and Sorainen have advised the OP Corporate Bank on its provision of financing to Finland’s Veho Group for Veho’s acquisition of Silberauto. Finland’s Dittmar Law Firm and Ellex’s three offices in the Baltic advised Veho on the financing, as they had on the acquisition itself.

    According to Castren & Snellman, the syndicated financing involved a EUR 182,100,000 and SEK 380,000,000 arrangement for Veho. According to the firm, “OP Corporate Bank plc acted as coordinator, bookrunner, agent, and security agent in this financing arrangement. The mandated lead arrangers in the syndicate were OP Corporate Bank plc, Nordea Bank Abp and Danske Bank A/S and lenders for the facilities were OP Corporate Bank plc, Nordea Bank Abp and Danske Bank A/S, Finland Branch.”

    Castren & Snellman reports that “the financing arrangement was carried out for the purpose of, among other things, refinancing Veho’s existing facilities agreement and financing the acquisition of Silberauto, the largest company in the Baltic automotive sector.”

    Veho’s acquisition of Silberauto’s business in Estonia and Lithuania took place in September, 2019, with Cobalt advising the seller, entrepreneur Vaino Kaldoja (as reported by CEE Legal Matters on September 26, 2019). 

    The Castren & Snellman team on the financing consisted of Managing Partner Sakari Lukinmaa, Counsel Minna Korhonen, and Associate Sonja Hanninen.

    Sorainen’s team included, in Estonia, Partner Reimo Hammerberg, Senior Associate Jane Eespold, and Associate Kristjan Nommik; in Latvia, Partner Rudolfs Eņgelis and Senior Associate Edvins Draba; and in Lithuania, Partner Augustas Klezys and Senior Associate Lina Ragainyte.

    The Ellex team included, in Estonia, Partner Ermo Kosk, Counsel Toomas Kasesalu and Rain Raa; in Latvia, Associate Partner Valters Diure and Senior Associate Beata Plocina; and in Lithuania, Partner Giedrius Stasevicius and Associate Tadas Kuzminskas.