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In the wake of a recently concluded election cycle in North Macedonia, businesses and investors are closely monitoring the new government's policy directions, according to Papazoski and Mishev Law Firm's Attorney at Law Ivan Mishev.

The recent elections in North Macedonia marked a shift in government, as reported by Lalicic & Boskoski Partner Angela Andonova, with the transition including the establishment of new ministries and a restructuring of current ones, setting the stage for upcoming legislative actions.

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. For this piece, we asked firm Labor experts:  Have whistleblowing regulations been implemented in your jurisdiction and would you advise companies to use an external solution or an in-house one? Why?

Selih & Partnerji, Polenak, Maric & Co, Kalo & Associates, and BDK Advokati have advised NLB Skladi on its acquisition of Generali Investments in North Macedonia. Papazoski and Mishev, an independent law firm in cooperation with PwC, advised Generali Investments.

North Macedonia faces an increasing interest and need to attract foreign workers to fill low-skilled job positions. The existing regulatory framework, however, poses significant barriers to employing foreign nationals. This article will outline the benefits of simplifying these procedures, the pressing need for reform, and how changes could align Macedonia with broader European Union trends.

In recent years, the real estate market in the Republic of North Macedonia, particularly in its capital city of Skopje, has witnessed significant activity. Statistics indicate a consistent trend of construction and sale of numerous residential apartments. Notably, despite the steady increase in real estate prices since 2021, there has been a notable surge in demand for residential apartment purchases. Concurrently, investor interest in constructing residential and office buildings remains robust, showing no significant signs of decline.

North Macedonia faces a temporary slowdown in economic activity as it gears up for presidential and parliamentary elections set for late April and early May, according to Law Office Serdjuk Managing Partner Petar Serdjuk, while the post-election period holds promise of revitalizing key sectors such as construction and infrastructure through long-awaited public procurement projects.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

Slovenia and Croatia adopted the Minimum Tax Act (MTA). The MTA implements Directive (EU) 2022/2523 to ensure a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the EU. The latter is a consequence of the OECD’s global fight against tax base erosion within the scope of Pillar II.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As we bid farewell to 2023, this time around we turn our attention forward: What is your one main wish for 2024 and what do you see as the biggest potential risk?

As a result of the challenges that the local market has been facing over the past years brought on by the recent pandemic, wars, and other changes in the market, the majority of businesses are faced with losses and accumulating high levels of debt. Consequently, enormous pressure is imposed on businesses, including on their viability, which, in turn, pushes the need to explore methods for overcoming these obstacles.

CMS has advised the Linamar Corporation on its acquisition of Dura-Shiloh’s battery enclosures factory in North Macedonia. The acquisition also included factories in the Czech Republic and the US, with a total transaction value of USD 325 million.

On February 19, 2024, Tosic & Jevtic and JPM Partners jointly announced their new strategic partnership, with the Serbia-headquartered firm expanding its presence to North Macedonia and Tosic & Jevtic becoming part of JPM Partners.

Harrisons, Maric & Co, Lambadarios, and Wolf Theiss, working with Linklaters, have advised a banking consortium led by UniCredit Bank London on the United Group's EUR 1.7 billion issuance of four tranches of senior secured and PIK notes as well as on the increase and extension of its EUR 410 million revolving credit facility. Selih & Partnerji, working with Paul Weiss, advised the United Group. Schoenherr, Koutalidis, De Brauw Blackstone Westbroek, and Elvinger Hoss Prussen reportedly advised the United Group as well.

Did you know that, using the Activity Rankings function of the CEELMDirect website, you can look up the 2023 deal leaderboards in each CEE market, including Bosnia and Herzegovina, Moldova, Montenegro, North Macedonia, and Slovenia?

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