CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
Due to technological progress and the effects of the COVID-19 pandemic, consumers have increasingly turned to online shopping. This was accompanied by the rapid development of new methods of short-term financing, such as Buy Now, Pay Later (BNPL) services, which allow customers to pay for purchases at a later date than the date of receipt. In Poland, financing is interest-free for a certain period, generally 30 days, after which interest charges apply.
Dentons has advised Modus Asset Management on obtaining EUR 58 million in debt financing from BNP Paribas Bank Polska and PKO Bank Polski to finance and refinance the acquisition of a 93-megawatt portfolio of photovoltaic projects in Poland. CMS advised BNP Paribas Bank Polska and PKO Bank Polski.
Nagy & Trocsanyi has announced the appointment of its new Managing Partner – Balazs Karsai – set to take over stewardship of the firm on January 1, 2024.
Dentons has advised Heimstaden on the refinancing of the acquisition of two residential complexes in Warsaw – Heimstaden Bokserska and Heimstaden Grzybowska – via a EUR 47.2 million loan from Santander Bank Polska. CMS advised Santander Bank.
CMS has advised a syndicate of banks led by ING Bank on the adjustment to the loan repayment terms under the USD 450 million pre-export facility for Ukraine’s Kernel Group. Allen & Overy reportedly advised Natixis, one of Kernel Group's creditors. White & Case reportedly advised the Kernel Group.
Vlasceanu & Partners and Wolf Theiss have advised the Ratesti Solar Plant – an Econergy group and Nofar group subsidiary – on the EUR 60 million financing from Raiffeisen Bank International and Raiffeisen Bank Romania to finance part of its EUR 102 million 155-megawatt solar project in Ratesti, Romania. CMS reportedly advised Raiffeisen Bank.
Ilej & Partners, in cooperation with Karanovic & Partners, and Dentons have advised the EBRD on its agreement with Croatia’s Mplus Group regarding a EUR 60 million investment for a 28.3% stake in M Plus Croatia. Mamic Peric Reberski Rimac and White & Case advised the Mplus Group, including M Plus Croatia and its majority shareholder Meritus Ulaganja.
