Category: Uncategorized

  • KSB and Weil Advise on Sale of AWT

    The BMM Group, which manages Zdenek and Michaela Bakalas’s Czech assets, has agreed with the other shareholders at the end of the year to sell an 80% stake in Advanced World Transport (AWT) to PKP Cargo, the largest Polish railway cargo carrier.

    Kocian Solc Balastik advised the BMM Group on the deal, which is expected to be completed in the first half of 2015 following regulatory approval. PKP Cargo was advised by Weil. The remaining stake continues to be held by Minezit SE, controlled by Rene Holecek, which with KSB’s assistance entered into a shareholder agreement with PKP Cargo.

    According to the AWT Group’s website, the group: “is the largest private provider of rail freight services in Europe. It provides comprehensive solutions mainly to large industrial companies in Central and Eastern Europe, primarily transporting commodities such as coal and steel, and components for the automobile industry. AWT has an extensive fleet of rolling stock, with more than 160 locomotives and 5,100 freight wagons. In the Czech Republic, it owns the rapidly growing Ostrava-Paskov combined transport terminal, operates more than 60 rail sidings and owns over 400km of track. It employs more than 2,000 people and has annual revenues of almost EUR 300 million.”

    Image source: Lukas Rebec / Shutterstock.com
  • EPAP Managing Partner Appointed Arbitrator with Kuala Lumpur Regional Centre for Arbitration

    Egorov Puginsky Afanasiev & Partners Ukraine (EPAP) has announced that its Managing Partner, Serhii Sviriba, the Head of the firm’s International Arbitration and Cross-Border Litigation Practice, has been appointed to the panel of arbitrators and mediators of the Kuala Lumpur Regional Centre for Arbitration (KLRCA) for the 2014-2017 term 2014.

    According to a statement by EPAP, “the Kuala Lumpur Regional Centre for Arbitration (KLRCA) was established in 1978 under the auspices of the Asian-African Legal Consultative Organization (AALCO). KLRCA was the first regional centre established by AALCO in Asia to provide institutional support as a neutral and independent venue for the conduct of domestic and international arbitration proceedings in Asia. It was also the first centre in the world to adopt the UNCITRAL Rules for Arbitration as revised in 2010. The Centre provides institutional support for domestic and international arbitration, and alternative dispute resolution proceedings in Asia. There are 1,128 arbitrators from 58 foreign jurisdictions in the present KLRCA Panel of Arbitrators.”

  • Greenberg Traurig Represents Raiffeisen Polbank in a PLN 500 Million Bonds Issue

    Greenberg Traurig has acted as legal counsel to Raiffeisen Polbank in the process of issuance of Series A bonds with a value of PLN 500 million (approximately EUR 115.6 million).

    On November 19, 2014, the bank issued three-year unsecured and unsubordinated corporate bonds for institutional investors. The bonds were issued pursuant to a public offering which did not require an issue prospectus or information memorandum, and were subsequently introduced to the alternative trading system operated by BondSpot within the Catalyst market. The bonds were first traded on January 15, 2015.

    The issue of Series A bonds is the first stage of the issue program of Raiffeisen Polbank corporate bonds. The maximum aggregate nominal value of the bonds issued under the program is PLN 2 billion.

    Pursuant to the offering, the European Bank for Reconstruction and Development took up 15% of the bonds with the aggregate nominal value of PLN 75 million.

    Greenberg Traurig provided comprehensive legal advice to Raffeisen Polbank, including structuring the bonds issue program, as well as the implementation of the public offering, dematerialization, and the introduction of Series A bonds to the alternative trading system. The Warsaw office team of Greenberg Traurig was led by Partner Ireneusz Matusielanski, assisted by Associates Adam Puchalski, Dawid Van Kedzierski, and Magdalena Bachleda-Ksiedzularz.

    Image source: Bocman1973 / Shutterstock.com
  • bpv Grigorescu Stefanica Establishes BACG — an AeRO Consultancy

    bpv Grigorescu Stefanica has announced it launched, in association with BAC Investment Banking, BAC Grigorescu Capital Advisors (BACG), which is certified one of the 22 organizations selected as Authorized Consultants by the Bucharest Stock Exchange (BVB) to advise on the new AeRO alternative system dedicated to SMEs.

    According to the BVB, the AeRO alternative transactional system was set up to offer a market with fewer reporting requirements for issuers while still offering “sufficient levels of transparency for investor so as not to deter transactions.” It is not regulated by European Directives or Romanian Capital Markets legislation, and instead is regulated by rules and requirements set by the Bucharest Stock Exchange. 

    The firm claims BACG will provide a unique service in the Romanian market by offering a “one-stop-shop” solution for companies, investors, and entrepreneurs interested in private placements or public listings on the AeRO platform, by bringing under the same umbrella both financial, management, evaluation, and tax consultancy as well as legal advice. As a result, the new consultancy aims to meet the needs of start-up and SMEs looking for support both in the process of the initial placements as well as ongoing support on implementing post-listing procedures. 

  • Schoenherr and Binder Groesswang Advise on Welsh, Caron Investment in AIM Software

    Schoenherr has advised the AIM Software Group on the receipt of an investment from and transfer of a majority interest to U.S.-based private equity firm Welsh, Carson, Anderson & Stowe (“WCAS”), advised by Binder Groesswang.  

    Under the terms of the transaction, which was announced on January 14, 2015, AIM’s existing management team will continue to operate the business and maintain a significant ownership stake in the company. WCAS is also investing primary capital in the business which will be used to further accelerate AIM’s expansion.

    AIM is a leading provider of data management software products to the financial services industry. According to a Schoenherr statement, “with more than 100 customers, and offices in Austria, Luxembourg, Switzerland, France, the UK, and the US, AIM offers best-in-class applications for the financial services industry.”  

    WCAS focuses its investment activity in two target industries, information/business services and healthcare. Since its founding in 1979, the WCAS has organized 15 limited partnerships with total capital of USD 20 billion.   

    The Schoenherr team advising on the AIM transaction consisted of Partner Christian Herbst and attorney Maximilian Lang. Swiss law advice was provided by Michael Kloter Attorneys, in Zurich.   

  • Skadden and A&O Advise on Schlumberger Acquisition of EDCL Stake

    Skadden is advising the majority shareholders of Eurasia Drilling Company Limited (EDCL), the largest provider of onshore drilling services in Russia, in its take private and sale of a minority stake to Schlumberger, the technology, integrated project management, and information solutions company. Allen & Overy advised Schlumberger. The deal is valued at USD 1.7 billion.

    Skadden’s European corporate finance practice head, Danny Tricot, is leading the Skadden team, assisted by the firm’s Co-Head of Moscow, Alexey Kiyashko, and London Associate Adam Howard.

    Under the terms of the deal the majority shareholders of EDCL will take the company private by de-listing it from the London Stock Exchange. Schlumberger will acquire a minority ownership in the company of 45.65%, with an option to purchase the remaining shares during three to five years from completion. The deal is being structured by way of a merger under Cayman law. Walkers assisted Skadden on these aspects.

    Allen & Overy was assisted by Appleby in its advice to Schlumberger. Vinson & Elkins and Maples and Calder are advising the Special Committee. 

  • Clifford Chance and Erdem & Erdem Advise on EBRD Investment in Pasabahce

    The Yegin Ciftci Attorney Partnership — the Turkish firm associated with Clifford Chance — and Clifford Chance’s Prague office have advised the EBRD in connection with its acquisition of an equity stake of 15.44% in the Turkish company Pasabahce Cam Sanayii ve Ticaret, a glassware subsidiary of the Sisecam Group – one of the leading glass producers in the world. Erdem & Erdem advised Pasabahce on the deal.

    The price of the  acquisition — which Yegin Cifti describes as “the largest equity investment of EBRD in Turkey” — was EUR 125 million.

    According to a statement released by Yegin Ciftci, “Pasabahce specialises in glass tableware and has a strong brand image, a diversified client base, and a well-established market position.”

    In 2014, Clifford Chance and Yegin Ciftci also advised the EBRD on its equity investment in Trendyol. 

    The Turkish law team was led by Yegin Cifti Partner Itir Sevim-Ciftci, with assistance from Associates Deniz Gocuk and Asli Kumbaraci. Clifford Chance Prague Partner Alex Cook provided English law advice. Erdem & Erdem’s team was led by Partners Ercument Erdem and Ozgur Kocabasoglu.

  • CMS and Popovici, Nitu & Asociatii Advise on Certinvest and SIF Transilvania Acquisition of AXA Romania

    On December 18, 2014, AXA announced that it finalized the sale of its Romanian operations to Certinvest and SIF Transilvania. Axa was advised by CMS on the deal while Certinvest was represented by Popovici Nitu & Asociatii.

    As a result of the deal, Certinvest acquired 70% of AXA’s business in Romania while SIF Transilvania obtained the remaining 30%. According to the AXA press release, the parties of the deal agreed to not disclose further terms of the agreement. The transaction is pending relevant regulatory approvals. 

    The AXA Group has been present in Romania since 2011, during which time it developed a network of 55 agencies with over 700 financial consultants. On November 29, 2013, AXA Romania announced its intended sale to Astra Asigurari but on September 20, 2014 announced that the deal had been terminated and that it would continue looking for “new strategic options.” 

    The Popovici Nitu & Asociatii team advising on the deal consisted of Partner Vlad Neacsu and Managing Associate Ioana Dumitru.

    Image source: Martin Good / Shutterstock.com
  • CEE Lawyers Participate in White & Case’s Advice on Global Metso Corporation Sale

    Lawyers from White & Case offices in Istanbul, Warsaw, and Moscow have participated in the firm’s multi-office advice to Metso Corporation, a leading minerals processing and flow control technology and services supplier for the mining, oil and gas and aggregates industries, on the sale of its Process Automation Systems (PAS) business to Valmet Corporation.

    The enterprise value of the transaction is EUR 340 million.

    “This transaction is an important milestone for Metso in implementing its new business strategy,” said Helsinki-based White & Case Partner Petri Haussila, who leads the team advising on the transaction. “This representation is part of our longstanding relationship with Metso that most recently included representing the company on the partial demerger that created Valmet as an independent public company.”

    Metso’s sale of the PAS business is part of a new strategy announced in July 2014, under which it will focus on products and services for the mining, oil and gas and aggregates industries.

    The PAS business is the market leader in process automation solutions for the pulp, paper and power industries, including automation and quality control systems, analyzers and measurements and related services.

    In addition to White & Case lawyers in Helsinki, Brussels, Beijing, London, Paris, Frankfurt, Tokyo, Johannesburg, New York, Milan, and Singapore, the firm’s team included Local Partner Aneta Hajska and Associate Katarzyna Kahl in Warsaw, Associates Jiutuo Sun and Ekaterina Palagina in Moscow, and Partner Meltem Akol and Associate Lara Sezerler in Istanbul.

  • Binder Groesswang Advises on Sale of Horbiger Family Seat

    Binder Groesswang has advised the actress Maresa Hoerbiger, the youngest daughter of a famous acting couple on the sale of a property on Himmelstrasse that, 80 years ago, was the family seat of “the acting dynasty.”

    The identity of the buyer and the purchase price were not disclosed.

    The Binder Groesswang team included lead attorney Clarissa Nitsch, the tax law team of Christian Wimpissinger and Christoph Urtz.

    Image source: http://commons.wikimedia.org/wiki/File:Maresa_Hoerbiger_2012-03-16_1.JPG