We are one of the world's leading corporate law firms, providing expert advice on many complex transactions in Europe and elsewhere. This work frequently has a cross-border element and we specialise in providing a seamless service for the types of transactions combining tax, environmental and all other required disciplines to create a single way forward across several jurisdictions.

M&A/joint ventures

As industry sectors in central and eastern Europe consolidate, our clients increasingly look to us to advise them on a wide range of investment opportunities, including mergers, acquisitions, disposals and joint ventures.We advise on all related issues such as intellectual property and employment. The publishing company Gruner + Jahr's recent disposal of various magazines/newspapers in the region is a good example of our ability to co-ordinate transactions across a number of countries.

Privatisations

We are very active in the field of privatisation, acting for governments, privatised companies, purchasers, financial advisers and underwriters. We have extensive experience both in eastern Europe and around the world of dealing with the practical difficulties and political sensitivities that these transactions can involve.

While the rate of privatisations in eastern Europe has slowed somewhat, with many major privatisations now complete, there are still a number of privatisation and restructuring deals to be done, with many investors - not only from the west, but also from other eastern European states - still keen to take advantage of the opportunities that privatisations can bring. We have been involved in debt and equity capital markets transactions in most of the countries throughout the region.

Securities

We have been involved in debt and equity capital markets transactions in most of the countries throughout the region.

For more information please refer to the section on our global corporate practice.

For further information please contact Samantha Vine, international business development manager.

Recent deals

Our work includes acting for:

  • ATEL, the independent energy group, on the acquisition of NRG’s Entrade energy trading business and on the acquisition and subsequent refinancing of the Kladno power project in the Czech Republic;
  • Borsodchem, the chemicals company, one of Hungary’s largest listed industrial companies, on the secondary offering of its shares and GDRs. As part of the offering, Borsodchem obtained a listing on the Warsaw Stock Exchange;
  • Bulgartabac, the state-owned Bulgarian cigarette manufacturer, on the proposed sale of
    various subsidiaries and its restructuring;
  • Dana Corporation, the global designer, engineer and manufacturer of products and systems for automotive, commercial, and off-highway vehicles on establishing a presence in Slovakia;
  • EFG Eurobank Ergasias, the Greek bank, on a bid for a stake in Bulgaria Telecom;
  • major European gas utilities, Gaz de France and Ruhrgas, on the $2.7bn privatisation of SPP including post-closing issues;
  • Gruner + Jahr on the sale of its stakes in the leading daily newspapers in Romania, Slovakia, Serbia and the Czech Republic to Ringier, publishers in Switzerland;
  • Holcim, the global cement supplier, on the sale of an area of more than 80,000m² at the Danube shores to a residential investor and developer;
  • IFC on the privatisation of the banking industry of Bosnia and Herzegovina;
  • International Water on the successful tender for the concession for the privatisation, rehabilitation and expansion of the Bucharest water and wastewater system;
  • Montanwerke Brixlegg, the Austrian copper producer, on its acquisition of the sole Slovak copper producer;
  • Nafta Polska, the Polish national oil company, on the privatisation of Poland’s downstream oil industry (refineries and retail network);
  • National Bank of Greece on the acquisition of United Bulgarian Bank;
  • Nordzucker on its €10.5m acquisition of Union SDA’s shareholding in the Slovak sugar manufacturer, Povazsky Cukor;
  • OTE, the Greek telecoms operator, on its acquisition of a 35 per cent interest in the national Romanian telephone company on its partial privatisation;
  • PKN Orlen, the Polish oil company, on a proposed DLC structure with a major eastern European player;
  • Ruhrgas on the acquisition of the gas business from Hungarian utility MOL (wholesale and
    trade);
  • Sanoma, Hungary’s leading publishing house, on transactional and regulatory IP issues in
    launching, acquiring and divesting magazines;
  • SBS Broadcasting on its joint venture bid for the third national television licence in Croatia;
  • Tesco, the leading UK retail chain, on its acquisition of HIT, a leading hypermarket business in Poland;
  • UBS on the privatisation offering of GDRs in Latvijas Unibanka, the Latvian bank;
  • UBS and Zagrebacka Banka on the international offering of shares (with Rule 144A) in Pliva, the largest privatisation in Croatia to date;
  • UBS on the international placement (with Rule 144A) of GDRs in Zagrebacka Banka and on its strategic investment in Zagrebacka Banka;
  • Wizz, the Hungarian low-cost start up carrier on its set-up, equity raising and aircraft leasing; and
  • an (undisclosed) bidder on the privatisation of the Serbian tobacco industry.

Related practices

Global corporate practice

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