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Baker McKenzie and ODI Advise MHP SE on Acquisition of Majority Stake in Perutnina Ptuj

Baker McKenzie and ODI Advise MHP SE on Acquisition of Majority Stake in Perutnina Ptuj

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Baker McKenzie, ODI Law, Simkins, Covington & Burling, and Van Bael & Bellis have advised MHP SE on the acquisition of 90.68% of the issued capital of Perutnina Ptuj, d.d. CMS London advised ING, MHP’s financial partner.

ODI acted as MHP's counsel in Slovenia, Serbia, Croatia, and Macedonia. Covington & Burling advised MHP on EU customs law and public policy issues in connection with the acquisition. 

MHP is an international agro-industrial group which focuses on production of poultry meat and grains. MHP engages in fodder manufacturing, sunflower and soybean protein production, grain growing, breeding, producing hatching eggs, hatchering, chicken growing, meat processing, and convenience foods, distribution, and biogas plants. 

Perutnina Ptuj is a Slovenia-seated company that focuses on meat processing and poultry meat production in Southeast Europe. 

According to ODI, a mandatory takeover bid will follow with shares held by more than 5,000 individual and institutional shareholders. “The acquisition, in the spotlight due to its size and multi-jurisdictional reach, [which will] be followed by pre-announced substantial investments in PP’s production base exceeding EUR 200 million, represents MHP’s first takeover of a EU-based company and thus a major strategic step for MHP, adding value to the company, thus further enhancing its position as a global player.” 

According to Baker McKenzie, “this is the first acquisition of its kind in Europe for MHP and it confirms MHP as Europe’s fastest-growing poultry producer.”

Baker McKenzie's team was led by Kyiv-based Partner Viacheslav Yakymchuk, supported by Associate Alyona Furda and Olena Serpukhovitina. The team also included London-based Senior Associate Robert Gray and Vienna-based Associate Anita Lukaschek.

The ODI team was led by the Managing Partner Uros Ilic, supported by Partners Branko Ilic in Croatia, Tine Misic in Slovenia, Gjorgji Georgievski in Macedonia, and Milos Curovic in Serbia. ODI’s team also included Ljubljana-based Managing Associate Klemen Kos and Senior Associates Primoz Mikolic, Katarina Skrbec, and Lea Pecek.

Covington & Burling's team was led by Brussels-based Of Counsel Candido Garcia Molyneux.

Editor's Note: After this article was published CMS informed CEE Legal Matters that the firm's team was led by Senior Associate Kateryna Chechulina and Partner Mark Segall, and included Partners Tetyana Dovgan and Maja Zgajnar, Associate Khrystyna Korpan, and Trainee Ivan Pshyk.

Subsequently, ODI informed CEE Legal Matters that it had advised MHP on the compliance of the financing underlying its acquisition of Perutnina Ptuj with Slovenian law, as well as for the acquisition itself. The firm's team on the financing compliance issues was led by Managing Partner Uros Ilic, assisted by Senior Associate Primoz Mikolic and Managing Associate Klemen Kos.

This article has been revised to correct the list of firms that worked on the deal.

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CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

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