The European Commission has recognised the regulatory disparities that exist between EU Member States and the candidate Balkan countries. To address these differences, it has identified the need to assess national legal frameworks and provide recommendations to Balkan countries for aligning them with EU standards.

In March 2024, the European Union adopted a new set of amendments to both the Markets in Financial Instruments Directive, commonly known as MiFID II, and the related Markets in Financial Instruments Regulation (MiFIR), as part of the Capital Markets Union agenda. The two instruments operate together and form the core of the EU framework governing trading venues, investment firms and market transparency. The latest amendments are designed to improve the availability and quality of market data, enhance market resilience during periods of stress, and simplify certain regulatory requirements that were widely viewed as inefficient in practice. While the MiFIR amendments apply directly across the EU, Member States had to transpose the revised MiFID II into national law by 29 September 2025. Hungary has adopted national measures aimed at implementing the amended directive.

Moravcevic Vojnovic and Partners in cooperation with Schoenherr has advised Alstom on the transport system design and construction for Belgrade Metro Line 1, Phase 1.

Regulations enabling the sharing of grid connections under the "cable pooling" formula have been in force in Poland since 1 October 2023. 2024 was the first full year in which these regulations were applied. The President of the Energy Regulatory Office (URE) recently published a report summarising the monitoring of the practical use of the cable pooling mechanism throughout 2024.

Schoenherr has advised Kabelplus on the acquisition of Speed Connect Austria.

Moravcevic Vojnovic and Partners in cooperation with Schoenherr has advised Elixir Group on a EUR 300 million syndicated debt financing from UniCredit, NLB, and OTP Bank, with UniCredit acting as the sole underwriter and global coordinator. ZSP Advokati, and reportedly Dentons, advised UniCredit.

Dentons has advised EP Equity Investment on its acquisition of Aures Holdings from Abris Capital Partners.

Wolf Theiss has advised DSK Bank on the green financing of a 600-megawatt-hour battery energy storage system located in Nova Zagora, Bulgaria, a grid-scale storage project sponsored by Enery. Schoenherr and Kinstellar reportedly advised on the financing as well.

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.

The Carinthian state government has released a far-reaching omnibus amendment[1] for consultation, ushering in a paradigm shift in the expansion of renewable energy. The focus is exclusively on technologies such as wind power and photovoltaics. Hydropower, traditionally dominant in Carinthia, is not covered by the acceleration measures.

Bondoc & Asociații has advised ENGIE Romania on the acquisition of a 253.1-megawatt onshore wind farm project located in Ialomita County, Romania, from Greenvolt Power. Schoenherr advised Greenvolt Power.

Schoenherr has advised IWP Grosshofen, a project company of ImWind, on obtaining an Environmental Impact Assessment permit for the Grosshofen II wind farm in Austria.

Head of Healthcare and Life Sciences at Schoenherr Elena Todorova and AECO Law Partner Emre Atayilmaz analyze how officials are testing different playbooks to blunt food-price pressures in their jurisdictions.

Poland’s private sector is juggling overlapping EU digital frameworks while investors and counterparties raise the bar in transactions. Traple Konarski Podrecki & Partners Co-Managing Partner Agnieszka Wachowska, SSW Partner Jakub Kubalski, Schoenherr Partner Katarzyna Szczudlik, Woloszanski & Partners Head of Crypto Practice Lukasz Kudela, and Addleshaw Goddard Head of TMT/IP Szymon Sieniewicz break down where companies stand now, what’s coming next, how internal compliance is changing, where deals are feeling it, and the risks many still underestimate.

If we were on Broadway, the latest public presentation of plans and ideas by the Czech competition enforcer – the Office for the Protection of Competition (OPC) – during a roundtable organized by the Czech branch of the International Chamber of Commerce (special thanks to my fellow board members for organizing it) could easily inspire reviews with headlines such as “shocking,” “surprisingly big,” or “unmatchable.” The discussion featuring the Chairman and Vice-Chairman of the OPC offered a clear preview of an ambitious reform agenda: a broader legislative package, sharper enforcement priorities, and a modernized toolkit.

Schoenherr has advised Vienna Insurance Group on the International Finance Corporation’s equity investment in two Ukrainian non-life insurance companies, USG and Kniazha, belonging to the VIG group.

Bulgaria's waste collection fee system is undergoing a fundamental change from 1 January 2026, shifting from property-based charges to a "polluter pays" model. However, significant uncertainty remains about the practical implementation of the new regime. Businesses should therefore prepare flexible budgets and monitor municipal announcements closely.

Wolf Theiss, working with White & Case, has advised Nomura on the acquisition of Macquarie Asset Management’s public investments business in North America and Europe. Schoenherr, working with Allen Overy Shearman Sterling, reportedly advised Macquarie.