A well-known chain of pharmacies launched a pilot project to run medical vending machines in Slovakia last year. Although Slovakia has not had such machines in the past, they are not uncommon abroad.

The title of this editorial is a famous song by the Spencer Davis Group – though it makes me wonder if they were CEE in-house lawyers singing to their CEOs.

White & Case has advised lead managers Barclays Bank, Citigroup Global Markets Limited, Deutsche Bank AG, HSBC, and Intesa Sanpaolo Group member Vseobecna Uverova Banka on the Slovak Republic's dual tranche issuance of EUR 2 billion 0.250% notes due 2025 and EUR 2 billion 1.000% notes due 2032.

In response to the coronavirus outbreak, most CEE/SEE countries have introduced provisions to close certain premises, while only some have banned the termination of leases in order to protect tenants who have lost revenues.

Contribution for employers with shut-down businesses

White & Case has advised lead managers Ceskoslovenska Obchodna Banka, Slovenska Sporitel’na, and Tatra Banka on the Slovak Republic's issuance of EUR 1.5 billion 1.000% notes due in 2030.

Governments across CEE, including Slovakia, have introduced or are discussing various measures to mitigate potential adverse consequences of the coronavirus situation. This short overview summarizes measures taken in Slovakia with respect to corporate housekeeping matters. The measures are envisaged to be temporary valid until about a month after the end of the crisis.

Contributed by Majernik & Mihalikova.

On December 11, 2019, CEE Legal Matters reported that Stanek Vetrak & Partneri had advised the Czech Republic's Franco Real Estate on its acquisition of Vseobecna Uverova Banka's real estate portfolio. We spoke with Vladimir Polacky, Project Manager for the Slovak Republic at Franco Real Estate, about the deal.

“The newly elected Government led by Igor Matovic is constructed of parties who used strong anti-corruption rhetoric in their campaign, so we will be expecting a lot of reform,” says Andrej Leontiev, Partner at Taylor Wessing in Bratislava.

White & Case has advised international investment company TPG Capital on a development loan for unidentified industrial premises to "serve as multi-purpose facilities for warehousing, administration, and trade and science and technology.”

Against a backdrop of global uncertainty fuelled by Brexit, a US-China trade war, and a weakening German economy, Central and Eastern Europe has proven itself economically resilient in the face of a challenging year. Led by Hungary, Poland, and Romania – all of which reported more than 4% GDPs growth – many emerging European countries have comfortably outshone the sluggish economies of Western Europe. It is, therefore, unsurprising that foreign investors flocked to the region in 2019 in search of healthy returns.

Greenberg Traurig has provided Polish advice to GLP on its acquisition of Goodman Group’s Central and Eastern Europe logistics real estate portfolio. Kirkland & Ellis served as global legal counsel to GLP, while Kinstellar provided local legal advice with respect to the Czech, Slovak, and Hungarian aspects of the transaction. Goodman Group was advised by Allen & Overy.

Kinstellar and Skubla & Partneri Advise on ECE's Acquisition of Bratislava Office Complex from Penta Real Estate

Kinstellar has advised Austrian company European City Estates on its acquisition of the Rosum office complex in Bratislava from Penta Real Estate, which was advised by Skubla & Partneri.

The Buzz in Slovakia: Interview with Veronika Pazmanyova of Glatzova & Co.

According to Glatzova & Co. Partner Veronika Pazmanyova, “surprisingly, just three days before the February 29 election the Slovak parliament approved a 13th pension wage and rejected the Istanbul Treaty.” According to her, “despite this clear political corruption, the ruling party, SMER, was not able to secure victory and were beaten by the anticorruption Ordinary People party led by Igor Matovic, who will presumably be the new Slovak Prime Minister.” Matovic received 25% of the votes, despite having only around 5% support in the autumn polls, Pazmanyova reports.

Kinstellar Advises OTP Bank on Sale of Slovak Operations to KBC Group

Kinstellar has advised Hungary-based financial group OTP Bank on the sale of its 99.44% stake in its Slovak operations to Belgium's KBC Group.

Slovakia is essentially a global superpower in the per-capita production of cars, producing more new cars per capita than any other country in the world. According to statistical data from 2018, four global car manufacturers located in Slovakia – Volkswagen Slovakia, Kia Motors Slovakia, PSA Group Slovakia, and Jaguar Land Rover – produced more than a million cars. The Slovak Automotive Industry Association reports that over 1.08 million cars were manufactured in Slovakia in 2018. It will be interesting to see whether this number will be surpassed given the recent challenges and potential slowdown in the automotive industry.

Schoenherr has advised Kommunalkredit Austria AG, the arranger and original lender, on Czech and Slovak acquisition financing provided to Enery Development for the acquisition of six 21 MW solar power plants in the Czech Republic and two 4 MW solar power plants in the Slovak Republic from Czech fund Green Horizon Renewables. CMS reportedly advised Enery and Badokh reportedly advised Green Horizon Renewables.