CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
1 March 2024 marks the date when the Transformations Act No. 309/2023 came into force in Slovakia. This regulation comprehensively outlines the procedures for national and cross-border mergers, divisions, and conversions of companies and cooperatives, moving away from the previously scattered provisions in the Commercial Code.
TGS Baltic has advised InMedica on its acquisition of the Panevezio Odontologai clinic. Glimstedt advised the seller.
On April 4, 2024, Ellex Valiunas announced that Kogeneracija's full sale of Miesto Energija and Pramones Energija and a 4,34% stake in Klaipedos Energija to Vilniaus Silumos Tinklai (reported by CEE Legal Matters on December 1, 2023) had closed at the end of March for EUR 10.6 million.
Wolf Theiss has advised Budapest Municipality-owned BKM Budapest Public Utilities Nonprofit on its acquisition of E.On Hungaria's 50% stake in BDK Budapest Decorative and Public Lighting.
Stratulat Albulescu has advised the GapMinder Venture Partners Fund II on investing in Genezio in a USD 2 million round that included Underline Ventures and other angel investors.
Boyanov & Co. has advised digital transformation consultant Synechron on its full acquisition of Bulgarian developer Dreamix. Djingov Gouginski Kyutchukov & Velichkov advised Dreamix and its nine shareholders on the sale.
While rendering day-to-day corporate advice to various clients, we have noticed lately a trend specific to limited liability companies, which involves allowing the directors of the respective companies to delegate all their powers to another individual for certain operations, either via the Articles of Incorporation or by resolution of shareholders.
