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Crido Legal has advised the global corporation Aon on the lease of approximately 11,000 square meters of office space in Krakow’s Enterprise Park complex, provided in a “built to suit” system. The lease agreement was executed on March 31st, 2016.

Enterprise Park is a group of office buildings in Krakow, located at Powstancow Wielkopolskich 13E. Construction started in 2008 and is expected to finish in the spring of next year. 

Once built, the newly-leased space will serve Krakow office of Aon — which Crido Legal describes as “the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services.” The firm reports that, “through its more than 72,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. In Poland firm has been operating since 1992 and within this period become leader on above-mentioned areas.”

Crido Legal was responsible for preparation, negotiation, and establishment of the final form of the agreement with the lessor. The team’s work was coordinated by Senior Associate Joanna Winter-Szymanska.

Crido Legal did not reply to our inquiries about the identity of the lessor or the law firm representing it.

Republika Srpska’s Minister of Industry, Energy, and Mines, Petar Dokic, together with a group of entrepreneurs, recently visited a business forum in Nizhny Novgorod – one of the leading industrial areas in Russia – for the purpose of promoting investments in the region.

This visit has been reported as part of the general effort to strengthen economic ties between the two countries that already enjoy positive commercial relations, taking into consideration that Russia is currently the fourth biggest investor in Bosnia.

According to Dokic, these relations have particularly been improved in the previous two years, as the foreign trade turnover between Russia and Republika Srpska grew by 40% over that period. The focus of the cooperation going forward is said to mainly be placed in the energy sector, as developing it presents a priority issue for the Bosnian entity. More precisely, Dokic has pointed out that Republika Srpska is interested in obtaining Russian equipment for its hydropower plants. So far, this sector has gone through EUR 1.5 billion in investments, with a plan to increase that figure to EUR 6 billion by 2030. While staying in Russia, Dokic took the time to officially launch a centre tasked with working on mutual economic cooperation between the two countries in Nizhny Novgorod.

Elsewhere, Vladimir Bogojevic, from the Republika Srpska Chamber of Commerce, shed further details on the commercial relations between the countries in question, by adding that exports from Republika Srpska to Russia have increased by 128% – as it mainly consisted of agricultural products such as apples, pears, and quinces. On the other hand, Russia was mainly exporting oil and natural gas to the Bosnian entity. The main reason behind the growing trade links between the countries, according to Anton Sokolov from the Russian Embassy, being the mutual sanctions imposed between EU and Russia that have, in turn, benefited not only Republika Srpska and Bosnia, but many other countries that are in a similar position.

By Andrea Wilson, Counsel, and Milan Radonic, Associate, Karanovic & Nikolic

After its introduction in 2015, the Hungarian Parliament has repealed the controversial regulations banning most retail stores from opening on Sundays. The reason for the withdrawal is grave unpopularity among Hungarian citizens.

To the great surprise of retailers, only one year after the announcement of the restrictions, the Hungarian Parliament has repealed the shopping ban, theoretically allowing stores to open from this coming Sunday, 17 April 2016.

According to the government, although the restriction achieved it’s initially planned social and economic objectives, it was met by disgruntled Hungarian voters unwilling to tolerate the ban. The act on repeal shall enter into force upon its official announcement. As a result of the withdrawal, an increase in retail trade volume is expected.

By Tamas Balogh, Attorney at Law, Schoenherr

Redcliffe Partners is supporting the EBRD in launching the debut EUR 75 million Ukraine Residential Energy Efficiency Financing Facility (the “Program”), which will be available to eligible borrowers through Ukrainian partner banks UkrSibbank, OTP Bank, and Megabank. Clifford Chance Moscow provided English law advice relating to the Program.

Redcliffe’s team is supporting the EBRD both on the transactional law issues, such as the development of Project Documentation, and on policy shaping efforts required to enable the Program in Ukraine.

Redcliffe’s team included Managing Partner Olexiy Soshenko, Counsel Dmytro Orendarets, and Junior Associates Olesia Mykhailenko and Ksenia Velychko.

The Clifford Chance team is led by Moscow-based Senior Associate Michael Anderson.

Klavins Ellex has announced that it advised Ikea Industry Latvia SIA on its sale of a sawmill company based in Incukalns, Latvia, to the Rettenmeier Group. As a result of the deal, Rettenmeier also acquired sole control of AS Incukalns Timber, a joint venture previously owned by Ikea Industry and Rettenmeier.

The Klavins Ellex team consisted of Managing Partner Filips Klavins and Associate Reinis Sokolovs. The firm did not reply to our inquiry about counsel for Rettenmeier on the deal.

Popovici Nitu Stoica & Asociatii has advised Cristian Amza, the founder and CEO of Romanian and Serbian water solutions provider La Fantana, on his purchase, along with Sweden’s Oresa private equity fund, of all the shares of water solutions provider La Fantana from Poland’s Innova Capital private equity fund. Oresa was advised by D&B David si Baias (the Romanian firm associated with PwC), while Innova Capital was advised by Clifford Chance Badea. Completion of the transaction is subject to the customary approvals, and the price of the transaction was not disclosed.

La Fantana was founded by Oresa and Cristian Amza in 2004. In 2007, Innova Capital bought a majority stake in the company. La Fantana has a market share of 70% among bottlers and distributors of spring water for offices in Romania, and it hold more than half the market in Serbia. Last year, the group reported revenues of over EUR 42 million and more than 50,000 customers.

The Popovici Nitu Stoica & Asociatii team assisting Cristian Amza and La Fantana was coordinated by Partner Silviu Stoica and Senior Associate Ramona Iancu.

The D&B David si Baias team consisted of Partner Sorin David and Anda Rojanschi. 

Clifford Chance Badea did not reply to our inquiry on the matter.

CHSH Sofia has advised Mediapost Hitmail SA, a subsidiary of the French La Poste Group, on its acquisition of a majority stake in the Bulgarian marketing agency Metrica.  

Metrica specializes in the development of comprehensive strategies, direct marketing campaigns and remote sales. 

According to CHSH, its Sofia office “advised La Poste throughout the transaction, conducted comprehensive due diligence of the target, reviewed and analyzed corporate documents, the corporate history of the target and its assets and liabilities, and carried out a high level review of its financial statements. CHSH also drafted the share purchase agreement and all other necessary transaction documents.” The firm’s team Consisted of Partner Boyko Gerginov and Senior Attorney Kalin Bonev.

CHSH reports that “Metrica was advised on some aspects of the transaction by sole practitioner Zornitca Garkova.”

Poland’s Wierzbowski Eversheds has set up a German Desk.

According to the firm, the desk — which will be led by Associate Malgorzata Sajkiewicz — will be “a dedicated team of experts advising on international projects at the meeting point of Polish, German, Austrian, and Swiss business.”

Sajkiewicz, whose practice focuses in tax and legal advice in M&A transactions, explained the decision in a statement released by the firm: “The decision to create such an offer is dictated by the desire to meet the needs of entrepreneurs from the German-speaking countries, who are increasingly and intensively investing in Poland. The German Desk team is made up of lawyers who stand out not only because of their thorough knowledge of the Polish legal system and extensive experience in legal business consultancy but are also fluent in German and have knowledge of German and Austrian law. As a result, they are able to look at legal problems of the German-speaking clients from a proper perspective, to better understand their individual needs and offer optimal solutions.”

The Polish German Desk team will work with lawyers from Eversheds offices in Germany, Austria, and Switzerland to “guarantee full support to Polish companies interested in the presence in the above mentioned countries, as well as German-speaking clients operating on the Polish market.”

The firm also has a French Desk, headed by Partner Arwid Mednis, which started several several years ago. 

Gide has announced that it has handed over management of its Moscow office to Partner Tim Theroux.

Theroux joined Gide Moscow in 2011 and has been a Partner since 2013. He advises financial institutions, funds and corporates, as well as governmental and multilateral institutions on cross-border financing and merger and acquisition transactions in Russia and the CIS. He is admitted as a solicitor in England & Wales and is a member of the New York state bar.    

Theroux will be responsible for the overall management of the Moscow office and the development of the firm’s business in Russia and the CIS. In Moscow, Tim is teamed with Partners Boris Arkhipov (Mergers and Acquisitions) and Ekaterina Vilenskaya (Real Estate).

Gide has been active in the Russian Federation for over 20 years, and its Moscow office currently has slightly over 20 lawyers and legal advisors.

In a statement released by Gide, the firm’s Senior Partner Baudouin de Moucheron and Managing Partner Stephane Puel commented jointly: “We are very pleased about this appointment, which reflects evolutions in our business model aimed at empowering our local teams. We have great confidence in Tim’s ability to lead our Moscow office and to work hand-in-hand with our teams throughout the world.”

Tim Theroux added: “I am honoured to head Gide’s Moscow office which has acquired a unique experience. Thanks to our talented team on the ground here in Russia, I am confident in our ability to strengthen our position in the Russian market.”

BDK Advokati has advised China’s He Steel on the acquisition of core assets from Serbia’s state-owned Steel Mill Smederevo in the process of privatization. The Asset Purchase Agreement was signed on Monday, April 18, 2016, and the purchase price was EUR 46 million, which, according to BDK, makes it one of the largest privatization deals in Serbia in the past 10 years.

The Steel Mill Smederevo is located downstream from Belgrade on the Danube River, and it was described in the past as “the backbone of Serbia’s economy.” It was acquired by U.S. Steel in 2003 for USD 23 million, and the Serbian government bought it back for one dollar in 2012.

He Steel is the second largest global producer of steel. It intends to invest additional EUR 300 million in the upgrade of the Steel Mill capacities and construction of a new plant, reach a production target of 2.1 million tons, and keep all of the factory’s 5,050 workers, the Serbian Ministry of Economy said on Tuesday. The sale is contingent upon regulatory approvals and other customary closing conditions, and is expected to be completed in the third quarter of this year. 

The BDK team consisted of Partners Vladimir Dasic and Tijana Kojovic, with support from Senior Associate Milan Dakic, and Associates Slododan Trivic, Dorde Zejak, Bisera Andrijasevic, Lazar Radic, Anda Savis, and Irena Kalmic.

Editor’s Note: After this article was published, Serbia’s Gecic | Law firm announced that it had advised Steel Mill Smederevo and the Government of Serbia on the deal, working with the legal team at KPMG Serbia and international counsel Cleary Gottlieb (published by CEE Legal Matters on May 11, 2016).