For the past five years the financial market in Slovenia has been characterized by a process involving the selling of non-performing loan and leasing receivables (“Receivables”), mostly to foreign investors. According to information published by the Bank of Slovenia, Slovenian banks still have approximately EUR 1.5 billion of non-performing loans on their balance sheets, and we expect to see more of these loans being sold in the next two years.
Schoenherr has advised Adriaplin d.o.o., the Slovenian subsidiary of Eni S.p.A., on its acquisition of Mestni Plinovodi d.o.o., a natural gas distribution network operator and gas supplier, from a consortium of sellers consisting of gas distributors Ireti and ACSM-AGAM from Italy and Istrabenz Plini from Slovenia. The sellers' advisor was Bettini Formigaro Pericu.
“Like everywhere else, there is a lot of talk about the GDPR right now in the market, and about blockchain, because Slovenians are very blockchain-conscious people,” says Partner Gregor Famira from CMS Ljubljana, who adds that he believes the country has the most bitcoin owners among all European countries.
The EU has always acknowledged the positive effects of foreign investments into member states and thus has one of the most open regimes in this regard. But in light of recent security issues in Western countries, the EU’s view on foreign investments has slightly changed, and out of concerns for both security and public order direct foreign investments could soon become subject to a so-called “screening mechanism,” in which they would be reviewed by the member state where the investment is planned, by the European Commission, and by other member states.
On Thursday, November 30th, leading legal practitioners from across Central and Eastern Europe gathered in Prague to help CEE Legal Matters celebrate its fourth successful year as the leading chronicle of the legal industry in the region, participating in an expert Round Table conversation about the year just concluded and enjoying an evening of dinner, drinks, and bonhomie.
Mia Kalas, Partner at Selih & Partnerji, says that recent conversations with her peers in Slovenia have generally focused on one pleasant topic. “When we meet we mostly discuss how the work load is really increasing, which is good.” Kalas says, “this is the busiest time we’ve had in the past few years. The economy is really growing, and what we’re seeing is quite a lot of M&A transactions in the private sector.”
Wolf Theiss has advised a banking group consisting of UniCredit, RBI, NLB, and SKB Banka on the recapitalization of AGIC and its subsidiary, Fotona in a re-financing. The transaction closed on October 4, 2017.