DLA Piper and ZSP Advokati have advised Erste Group Bank, Erste Bank Novi Sad, and UniCredit Bank Serbia on the EUR 225 million refinancing of a retail portfolio owned by Atterbury and MPC Properties.

DLA Piper has advised Knorr-Bremse Rail Vehicle Systems on the sale of its overhaul business in Romania to Grampet Logistics. 

Hogan Lovells and Rymarz Zdort Maruta have advised Canadian energy company Northland Power on its acquisition of two battery energy storage system projects in Poland from Greenvolt Power Group. DLA Piper advised Greenvolt Power Group.

Given the scarcity of network capacities, integrating the growing volume of weather-dependent generation and energy storage systems into the grid is becoming an increasing challenge in the domestic electricity sector. The emergence of co-location models offers new opportunities for market participants, while also raising numerous legal and financing questions.

The European Union has made a significant move to reshape its anti-money laundering (AML) framework by creating the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA), based in Frankfurt. This new institution is set to standardize and improve AML compliance throughout the EU, eliminating fragmented oversight and establishing a consistent supervisory system.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. This time around, we asked: What is the one most time-consuming administrative task for you as a Managing Partner, and what, if anything, have you done to try to minimize time spent on it?

Austria is currently experiencing its longest recession since World War II. Both external factors, meaning volatile energy prices, geopolitical tensions, as well as trade uncertainties, and internal causes, primarily the absence of a federalism reform, high part-time employment, early retirement, and a significant part of the population being net beneficiaries of the welfare system, have led to this structural decline. A significant concern is the deindustrialization of Austria’s economy, which has resulted in a major increase in insolvencies and restructurings.

The European insolvency landscape is undergoing a period of intense transformation, driven by EU-level legislative initiatives and national responses to disruptions – most notably the COVID-19 pandemic and the war in Ukraine.

DLA Piper has advised the International Finance Corporation and the Government of Iraq on the public-private partnership for the rehabilitation, expansion, financing, operation, and maintenance of the Baghdad International Airport, with an estimated project value of approximately USD 764 million.

Baker McKenzie has advised Mageba Group on the successful refinancing of its existing indebtedness through a syndicated loan arranged with a banking consortium led by UBS Switzerland. Niederer Kraft Frey and DLA Piper reportedly advised the consortium.

Romania is experiencing significant pressure in pharmaceutical reimbursement and increasingly heavy FDI scrutiny, creating uncertainty and added complexity across the market, according to DLA Piper Romania Partner Alina Lacatus.

DLA Piper has advised a syndicate of lenders including Erste Bank Hungary, Erste Group Bank, and UniCredit Bank Hungary, on the EUR 165 million refinancing of Etele Plaza.

Schoenherr has advised Puro on the refinancing of its existing financial indebtedness, with the new facilities provided by a consortium of lenders comprising Santander Bank Polska and Bank Pekao. DLA Piper reportedly advised the lenders.

Wolf Theiss has advised joint lead managers and joint bookrunners Raiffeisen Bank International and Montega Markets on the exchange offer for UBM Development’s outstanding 2019 and 2021 bonds and the subsequent cash subscription offer of UBM’s EUR 75 million 6.750% Green Bond due 2025–2030. DLA Piper advised UBM.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

White & Case Local Partner Jana Chwaszcz, Havel & Partners Partner Jaroslav Baier, DLA Piper Czech Republic Country Managing Partner Miroslav Dubovsky, and Schoenherr Partner Vladimir Cizek discuss the forces behind Czech investors increasingly looking beyond their borders, the sectors and destinations attracting the most interest, and the challenges that come with navigating foreign markets.

Romania is nearing full implementation of the NIS2 Directive, with secondary legislation expected to be enacted by the end of this summer. The legal framework is largely in place, and Romanian entities will have to begin their compliance efforts ahead of most other EU jurisdictions.

Over the past fifteen years, HUPX has become one of the most recognized and liquid organized electricity markets in the Central and Eastern European region. This success is not due to a single factor, but rather to a consciously developed strategic path, in which the regulatory environment, technological decisions, and international openness have all played a role. But how can one keep pace with industry developments while fully meeting the needs of market participants?