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Wolf Theiss has advised RLB Steiermark on its January 2016 placement of mortgage-backed bank bonds amounting to EUR 500 million on the international capital market. Among the consortium of banks participating in the issuance were Bayerische Landesbank, Commerzbank AG, Credit Agricole Corporate and Investment Bank, Erste Group Bank AG and Raiffeisen Bank International AG.

The secured bond received a AAA rating from Moody’s and was considerably oversubscribed, selling out within three hours. Orders came predominantly from Austria, with others coming from Germany, France, Italy, and other European countries.

The bond was secured by both collateral assets from the collateral pool for mortgage-backed bank bonds from RLB Steiermark and its AAA rating. This allowed RLB Steiermark to set the bond’s coupon rate at 0.625% per annum in the course of its pricing.

The Wolf Theiss team advising RLB Steiermark was directed by Banking & Finance Counsel Alexander Haas, who said, “we found this transaction particularly exciting because we, at the spur of a moment and in discussion with the Joint Lead Managers, decided to write the important components of the documentation in both German and English to make it easier to reach international investors.” He continued, “I am very happy that RLB Steiermark once again placed its trust in the expertise of the Debt Capital Market Team at Wolf Theiss for this issuance. That the order book filled up so rapidly is a sign that international investors regard bonds from Austrian regional banks as attractive assets, even in benchmark volumes. I hope that many other Austrian credit institutes and industrial enterprises will avail themselves of the opportunity to borrow on the capital market in the current interest rate environment.”

Haas was supported by Wolf Theiss Associate Nikolaus Dinhof.

Asters had advised the EBRD on its USD 5 million financing to V.V. Kischenzi LTD, a privately-owned diversified agricultural producer based in the Cherkassy region of central Ukraine.

Kischenzi operates a variety of businesses ranging from grains and vegetables growing to dairy and pig farming. Around 60% of its output is successfully exported to the European Union and other markets. The loan will be covered by a first loss guarantee from the EU grant under the SME Direct Support Facility for small and medium sized businesses in the countries of the Deep and Comprehensive Free Trade Area (DCFTA).

The proceeds of the loan will be used by Kischenzi to upgrade its fleet of combine harvesters and to acquire supplementary agricultural equipment like cultivators. The project will help Kischenzi strengthen its export potential and implement modern state-of-the-art farming technics and standards thus creating a successful benchmark for the industry in Ukraine.

The loan is provided by the EBRD jointly with the European Union. According to a statement released by Asters, “by supporting this transaction the EBRD and the EU are continuing to provide more resources to support agribusiness, a key growth driver of the Ukrainian economy – and help small businesses in Ukraine unlock new opportunities available under the Deep and Comprehensive Free Trade Area.”

“This project is among the multiple investments of EBRD aiming at supporting Ukrainian agribusinesses and making them competitive,” said Iryna Pokanay, Partner at Asters. “We are happy to participate in the project promoting our country’s agricultural sector in the foreign markets.”

The Asters team consisted of Pokanay, Counsel Gabriel Aslanian, and Associate Inna Bondarenko.

ODI Law has announced that its Managing Partner, Uros Ilic, has been appointed the Honorary Consul of the Kingdom of Belgium to the Republic of Slovenia.

Ilic will head the new Belgian Consulate, which was opened following Belgium’s recent decision to close its Embassy in Slovenia. The induction ceremony, during which the Ambassador of Belgium will hand over the official documents of appointment, has not yet taken place.

In his role as Consul Ilic will support the Belgian Consulate by not only providing domestic assistance to Belgian nationals travelling and residing in Slovenia but also by expanding links between the two countries and promoting businesses in the fields of commerce, tourism, culture, science, education, and sport. According to a statement released by ODI, “in his legal capacity, Mr Ilic has been developing a connection with Belgium for some time, having worked on different M&A projects with reputable Belgian companies and is a member of the Ambassador`s Club of Slovenia in Belgium.”

Commenting on his appointment, Ilic said: “I am honored to accept the role as Honorary Consul of the Kingdom of Belgium and look forward to providing assistance to the Belgian community as well as building a link and promoting all round cooperation between Slovenia and Belgium. Both countries have a lot in common as they are both members of the EU family, which is a guarantor of present and future Rule of Law in Europe. Devoting my entire professional carrier to this fundamental legal principle, I feel extremely privileged to be entrusted with additional responsibilities that will help businesses and citizens of both countries to prosper and use their various freedoms.”

Soltysinski Kawecki & Szlezak has advised Eurocash S.A on the acquisition of a 100% stake in Polska Dystrybucja Alkoholi Sp. z o. o. from shareholders Jack Janton, Jaroslaw Janton, Adam Janton, Andrew Tyrka, Zbigniew Makaruk, and Jakub Nowak.

PDA is a distributor of alcohols in the Polish provinces of Lodz, Malopolska, Mazovia and Swietokrzyskie. Reports state that PDA’s total sales in 2014 amounted to approximately PLN 268 million (approximately EUR 60 million).

According to a statement released by SK&S, “the scope of legal advice offered by SK&S included: legal due diligence, negotiating all transaction documents, and assisting with the signing of the preliminary contract for the sale of shares concluded on 21 December 2015.”

The firm’s team was led by Partner Pawel Moskwa, supported by Senior Associate Leszek Malecki and Junior Associate Edyta Prociak.

SK&S did not reply to our request that it identify counsel to Polska Dystrybucja Alkoholi.

Sorainen has assisted Nemo Telecom in registering its “NEMO” trademark in the European Community.

Nemo Telecom is a TV services provider known for its advanced Nemo TV service, which works on an Over the Top (OTT) platform (i.e., over the network of any Internet provider) and is supported by various devices, including Smart TV sets and smartphones.

Sorainen handled the trademark registration procedure. After registration the Community trade mark “NEMO” is protected in all European Union countries.

Nemo Telecom was advised by Partner Agris Repss and Associate Edvins Draba, a professional trademark attorney.

Image Source: nemo.tv

Clifford Chance’s Prague and Frankfurt offices have advised Allianz Real Estate on its acquisition of 100% of the shares of the company that owns the Central Shopping Center in Bratislava. The seller — a member of the IMMOCAP group, a Slovakian real estate developer — was advised by the Bartosík Svaby law firm. The transaction has a deal value of EUR 175 million.

The acquisition represents the first real estate investment in Slovakia for Allianz. According to Clifford Chance, “Central Shopping Center is one of the most prominent and best performing shopping malls in Bratislava’s city center. It opened in late 2012 and comprises a total lettable area of approximately 40,000 square metres, with 31,500 square meters being solely dedicated to retail. The center has numerous well-known international brands as tenants, including Armani, Diesel, ZARA, Gant, L’Occitane and Mango.”

“Our investment into Central Shopping Center is again an important step to a further diversification of Allianz’s real estate portfolio and to expand our investments in retail assets,” said Annette Kroger, CEO of Allianz Real Estate Germany. “At the same time it is an attractive opportunity to get exposure to the Slovakian market.” 

The Clifford Chance team was led by the Prague office’s Head of Real Estate, Partner Emil Holub. Holub was primarily supported by Senior Associate Lubomir Bartal, Associate Michal Pivarci, and members of the office’s Slovak law desk, including Associate Stanislav Holec and Junior Associates Izabela Zatkova and Andrej Havko. The team in Frankfurt was led by Allianz Relationship Partner Christian Keilich and included Tax Partner Jan Grabbe and Real Estate Counsel Henning Aufderhaar.

The Bartosik Svaby team consisted of Partner Peter Bartosik, Senior Associate Anna Stancakova, and Junior Associate Michaela Cernakova.

Image Source: central.sk

Lenz & Staehelin advised the Swiss Automotive Group (SAG) in its acquisition of a 51% stake in the Autonet Group, which was assisted by Tuca Zbarcea & Asociatii.

As a result of the transaction, which closed on December 9 and was announced on December 11, Autonet companies will be comprised within a holding, with SAG owning 51% of the shares, and the existing Autonet shareholders owning the remaining 49%. SAG and Autonet will continue to operate separately within their own markets, with their joint coverage now encompassing seven countries: Romania, Hungary, Slovenia, Slovakia, Switzerland, Austria, and Belgium. The two companies are members of the same buying group, ATR International AG, with a reported estimated turnover of EUR 14 billion for 2015. 

Mihaly Lieb, shareholder at Autonet and member of the Supervisory Board at ATR International AG, commented on the deal: “We are looking forward with confidence to this alliance, which will result in the emergence of an entity comparable by size with the largest European players within the field. Together with SAG, we will be able to consolidate our leading position in the Romanian market, as well as to accelerate our growth across the other markets – Hungary, Slovenia, and Slovakia. Autonet and SAG are targeting a total turnover of EUR 1 billion during the following years.

The Lenz & Staehelin team advising on the deal was led by Partner Jacques Iffland and Associate Simone Ehrsam, and included Associates Romain Herzog and Adrien Alberini.

Partners Catalin Baiculescu and Sebastian Radocea led the Tuca Zbarcea & Asociatii team. 

The PATH Augustyniak, Hatylak & Partners LLP law firm has announced its launch in Warsaw. According to a statement released by the new firm, it “specializes in providing services to high net worth Individuals – private entrepreneurs and their families, in the fields including legal aspects of wealth management, tax planning, succession regulation and conducting investment transactions in Poland and abroad.”

Founding Partners Piotr Augustyniak and Tomasz Hatylak are both tax experts, and they describe their firm as a “prestigious boutique law office”, which “provides comprehensive legal consulting dedicated to individuals with stable financial status and their families, as well as institutions. The company’s offer includes: legal and tax advisory in the area of wealth and asset management, maintaining relationships with banks, succession regulation and investment transactions, as well as managing family matters and organising life in Poland and abroad, including change of tax residence.”

Augustyniak says, “looking at the legal services market, where we have been present for several years, we can clearly see that the range of the entrepreneurs’ needs is constantly growing. “Company owners, members of management and supervisory boards, top managers, artists, sportsmen and public figures require tailor-made solutions, which are suited to their domestic and international business activity and ever-changing legal regulations; the ones that take all aspects of a family’s life into account.”

Augustyniak was a Partner at K&L Gates in Warsaw from 2010 until this past December, and before that spent 4 years as a Counsel at Hogan & Hartson, 2 years as a Partner at Kochanski, Brudkowski & Partners, and 2 years as a Tax Advisor at White & Case. He assists local and foreign clients and multinational corporations in tax planning, and devises “tax-effective structures for their business, acquisitions, divestitures, and disposals of companies.” He concentrates on international taxation, including tax planning with respect to international double taxation. 

Tomasz Hatylak comes to PATH after working independently for the past year and a half. Before that he was a Senior Associate in charge of the Warsaw Taxation & Benefits Tax Practice at Squire Sanders Swiecicki Krzesniak for 6 years, and a Senior Associate  at the Tokarczuk, Jedrzejczyk i Wspolnicy law firm for the 6 years before that. He began his career as a Junior Associate at Dewey Ballantine for one year in 2001. He specialize in “the development of complex investment scenarios for individuals, family businesses and corporations, as well as tax planning and taxation of financial services.”

Augustyniak explains that, “the name of our company refers to the fact that we aim at straightening intricate pathways of international law, which our clients are obliged to follow.”

Earlier this month CEE Legal Matters reported on the opening of Pavelka, a similar boutique, also dedicated to High Net Worth individuals, in Prague. 

Gleiss Lutz (as lead counsel) and Schoenherr have advised the the insolvency administrator of Praktiker on the sale of its Hungarian subsidiary to Karl-Heinz Keth and its properties to the Wallis Group, which was advised by Dentons.

As part of the deal, signed on January 18, 2016, Christopher Seagon, the insolvency administrator of the Praktiker’s German entities (Baumarkt Praktiker International GmbH and Baumarkt Praktiker Grundstucksbeteiligungs GmbH), has sold the shares of the operative Hungarian subsidiary Praktiker Kft. to its current Managing Director, Karl-Heinz Keth. At the same time, the Wallis Group acquired the three properties owned by Praktiker. The existing operation of the DIY store in Hungary, with 19 locations and 1,100 employees, will continue to trade under the Praktiker brand, as the buyers agreed to operate Praktiker in the future in a joint company, with Wallis Group as majority owner. This second stage of the transaction is subject to approval by the Hungarian Competition Authority.

The Gleiss Lutz team involved in the transaction was led by Partners Ralf Morshauser and Patrick Mossler, and also included Counsels Tobias Falkner, Carolin van Straelen, Axel Kuhlmann, Franziska von Hutten-Langlotz, Maximilian Habel, and Matthias Werner.

The Schoenherr Hungary team was headed by Partner Sandor Haboczky and Attorney Gabor Spitz as attorney in charge. They were supported by Attorneys Anna Turi, Gergely Szaloki, and Tamas Balogh.

The Dentons team on the deal was led by Partner Andreas Kohler, supported by Associates Gabor Toth, Andras Peisch, and Eszter Fodor.

Gleiss Lutz reports that, with the completion of this transaction, all foreign entities of the Praktiker Group have been successfully sold to investors, thereby saving a total of 6,600 jobs. Prior to the sale of the Hungarian subsidiaries, Praktiker entities in Luxembourg, the Ukraine, Romania, Bulgaria, Poland, and Greece had been sold since October 2013 in separate auction processes. Schoenherr was also involved in the sales process of Praktiker’s CEE subsidiaries with local Schoenherr teams previously also advising on the sale of the DIY chain’s Bulgarian, Polish, Romanian, and Ukrainian subsidiaries, a process coordinated and supervised by Vienna-based Michael Lagler.

Image Source: tishomir / Shutterstock.com

Mrowiec Fialek and Partners has advised Marcin Szulwinski, one of two shareholders of Grupa Nowy Szpital Sp. z o.o. in a leveraged management buyout of the company. The other shareholder – Marcin Roslewski — was represented by Domanski Zakrzewski Palinka (DZP).

According to Mrowiec Fialek & Partners, Grupa Nowy Szpital is the largest hospital network in Poland.

The firm participated in all stages of the transaction, including bond issuance for financing of the transaction, which was completed on December 29, 2015.

The Mrowiec Fialek team was led by Partners Miroslaw Fialek and Zbigniew Mrowiec, supported by, among others, Senior Associates Pawel Cyganik and Anna Paszek.

DZP did not respond to inquiries about its role on the matter.