12
Mon, Apr
68 New Articles

For our Checking In feature, we reach out to partners and heads of practice across CEE to learn how specific practice areas are faring in their jurisdictions. This time around we asked Tax experts: What are the most important changes to the Tax laws in your country since January 2020 and what has their impact been? 

Horea Popescu, Managing Partner of CMS Bucharest and Head of CMS’s Corporate M&A Practice in CEE Looks Back at an Unusual Year.

Gide Loyrette Nouel has advised Polish real estate developer Yareal on its sale of the Neopark campus complex in Warsaw's Mokotow district to an unspecified French fund managed by Amundi Real Estate. CMS advised Amundi on the deal.

CMS has advised Macquarie’s Green Investment Group on a ten-year physical corporate Power Purchase Agreement with the Danone companies in Poland and separately on a route to market physical PPA with Axpo, one of the largest independent off-takers of renewable energy, under which the wind farm will sell the remaining volume of electric energy and receive balancing services from Axpo.

CMS has advised Partech, the EBRD, Quadrille Capital, and the J&T Bank on a EUR 190 million Series B investment in the Rohlik Group. Index Ventures, R2G, and Enern also participated in the investment round. Pierstone advised Index Ventures and White & Case advised the Rohlik Group.

CMS has advised PFR Ventures on its investment in private equity funds British Apax Partners, French PAI Partners, and Poland-based Avallon MBO. The total value of the investment, which also included another, unnamed, company, is PLN 340 million.

Good corporate governance contributes significantly to increasing company value and strengthening the confidence of investors. It has been promoted in Ukraine, as across the world, in the past few decades, and in March 2020, the Core Code of Corporate Governance, which was based on the work of over 50 Ukrainian and international experts, was adopted by the National Securities and Stock Market Commission of Ukraine (NSSMC).

Squeeze-out of minority shareholders is an important concept for joint stock companies in Bosnia and Herzegovina (BiH). In the previous socialist system, many then-state-owned joint stock companies issued employee stocks as a form of partial privatization, leading to some companies having hundreds of minority shareholders with miniscule amounts of shares. This complicated the management of these companies, as majority ownership changed from state to private, since many small shareholders are unreachable, as they may be deceased or have relocated with unknown addresses. This situation often makes squeeze-outs essential for majority shareholders in order to efficiently manage these companies.

In our legal work in Montenegro, CMS has been engaged in a number of major mergers & acquisitions, representing both buyers and sellers, including Monte Rock’s acquisition of HIT Montenegro in connection with the Hotel Maestral in Budva-Przno, the Delhaize Group’s acquisition of food retailer Delta Maxi, KKR’s acquisition of SBB/Telemach Group, and OTP Bank’s acquisition of Societe Generale Montenegro.

Our Latest Issue