CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
The National Bank of Serbia (“NBS”) adopted the new Decision on the Minimum Requirement for Capital and Eligible Liabilities of a Bank (“New MREL Decision”), as part of a package of new or amended bylaws following the latest amendments to the Law on Banks. The New MREL Decision shall replace the existing decision of the same name (“Existing MREL Decision”) and shall apply starting from 1 October 2025.
Kolcuoglu Demirkan Kocakli has advised BMS Group on its acquisition of Oria Sigorta. Norton Rose Fulbright's affiliate law firm of Pekin Bayar Mizrahi advised Oria Sigorta.
Kyriakides Georgopoulos has advised Piraeus Bank as the listing advisor on the EUR 68.3 million share capital increase of Europe Holdings.
Greenberg Traurig has advised Santander Consumer Finance on its acquisition of 60% of the shares in Santander Consumer Bank from Santander Bank Polska in a deal valued at PLN 3.1 billion.
Baker McKenzie and its Turkish affiliate firm Esin Attorney Partnership have advised Akbank on its TRY 3.9 billion (approximately USD 100 million) mortgage-backed covered bond issuance to the European Bank for Reconstruction and Development. Allen Overy Shearman Sterling and its Turkish affiliate firm Gedik & Eraksoy advised the EBRD.
Greenberg Traurig has advised the CCC Group on its debt refinancing involving the early redemption of Modivo bonds previously acquired by Softbank, financed through a term loan granted by UniCredit. Clifford Chance reportedly advised Softbank. White & Case reportedly advised UniCredit.
Allen Overy Shearman Sterling has advised Bank Polska Kasa Opieki on its successful issuance of EUR 500 million in 3.750% senior non-preferred fixed-to-floating rate notes due 2031. Bank Pekao, Commerzbank, J.P. Morgan, Societe Generale, and UniCredit were the joint lead managers. Baker McKenzie reportedly advised the banks.
