In a rapidly evolving global landscape, regulatory expectations are becoming increasingly complex. While transitional periods may offer a degree of flexibility, the pace of regulatory change demands continuous attention from market players and dedicated resources to maintain compliance and achieve long-term operational resilience.

With the adoption of the Amendment and Supplement to the Investment Promotion Act (the “FDI Act”) in March 2024, along with the publication in the State Gazette of the long-awaited secondary legislation – the Amendment and Supplement to the Rules on the Implementation of the Investment Promotion Act (the “Rules”) –on 22 July 2025, the FDI screening regime became applicable in Bulgaria. Transactions by foreign investors in the areas outlined in the law, above the set thresholds, would need to obtain FDI approval before closing.

Wolf Theiss has advised Chatlyn on its EUR 8 million series A financing round led by London-based private equity firm Smedvig Ventures. Brandl Talos advised Smedvig Ventures.

Wolf Theiss has advised INVL Baltic Sea Growth Fund on its acquisition and financing of a majority stake in Pehart Group from Abris Capital Partners. Andronic and Partners advised the management of Pehart Group. RTPR advised Abris Capital Partners.

Wolf Theiss has advised Metso on its acquisition of a production facility in Oradea, Romania, from EMSIL Techtrans. Maxim Associates advised the sellers.

Wolf Theiss has advised Sibelco Group on its acquisition of Envy Recycling, SPL Recycling, SPL Servis, and CEEK.

Fieldfisher has advised Lyten on its acquisition of Northvolt Dwa ESS. Wolf Theiss advised Northvolt.

Wolf Theiss, working with Arendt, has advised Studenac on securing a EUR 300 million loan facility from a consortium of banks led by Bank Pekao and including Powszechny Zaklad Ubezpieczen, OTP Banka, Zagrebacka Banka, and OTP Bank Plc Hungary. DTB and Clifford Chance advised the financial institutions.

As of 1 July 2025, lobbying activities in the Czech Republic are subject to regulation for the first time. The new Regulation of Lobbying Act aims to enhance transparency by defining who qualifies as a lobbyist, identifying the targets of lobbying (primarily public officials) and introducing record-keeping obligations. A key element is the creation of a publicly accessible register, where lobbyists must disclose their identity and the parties they represent.

Wolf Theiss, working with Clifford Chance, has advised Supernova Invest on the issuance of EUR 550 million senior notes due 2030. Linklaters and Schoenherr reportedly advised the bank syndicate involved.

With the European Parliament recently approving a new draft FDI regulation, significant changes are on the horizon across the EU, and Slovakia is no exception. According to Wolf Theiss Partner Bruno Stefanik, the anticipated updates will impact Slovakia’s national legislation, reshape existing FDI procedures, and offer a timely opportunity to address practical challenges identified since the country’s FDI regime took effect in 2023.

Nestor Nestor Diculescu Kingston Petersen has advised PetStar Group on the reacquisition of sole control over its core packaging manufacturing subsidiaries and a EUR 50 million financing round. Wolf Thiess advised UniCredit as the lender.

Wolf Theiss, working with Linklaters, has advised Raiffeisen Bank on the issuance of EUR 300 million 4.191% 6NC5 green non-preferred senior eligible notes due 2031. White & Case reportedly advised the bank syndicate.

Wolf Theiss, working with Maqs Advokatbyra, has advised New Wave Group on the acquisition of Cotton Classics Handels.

Schoenherr has advised OMV Aktiengesellschaft on the issuance of EUR 750 million in perpetual, subordinated hybrid notes with J.P. Morgan and MUFG acting as the structuring agents and joint global coordinators and BofA Securities, Erste Group, ING, LBBW, and SMBC as the joint bookrunners. Wolf Theiss, working with the White & Case Frankfurt office, advised the bookrunners.

Hungary’s specific domestic foreign direct investment (FDI) screening regime (affecting both ongoing and future cases) has been updated to include extended applicable deadlines and the possibility of multiple rounds of extensions. Additionally, the existing pre-emption mechanism – originally intended for transactions targeting solar developments – has been extended to cover all transactions blocked by the competent minister’s decision.

BPV Huegel has advised CPI Europe Group on the sale of the Vienna Marriott Hotel to a joint venture between Evientro and Landfair European Dislocated Opportunities. Binder Groesswang and Saxinger advised the buyers. DLA Piper and Wolf Theiss reportedly advised the buyers as well.

Wolf Theiss has advised Aurelius on its acquisition of Winkelmann Automotive Poland.