CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
CMS has advised Greenvolt Power Solar Poland on its acquisition of an 80-megawatt photovoltaic project – including a battery energy storage system capable of storing electricity up to 25 megawatts per four hours – from AES Global Power Holdings. Spasov & Bratanov, working with Bracewell, advised the seller.
Clifford Chance has advised Hillwood on the financing of the construction of the Hillwood & LCube Wroclaw East warehouse park in Dobrzykowice, near Wroclaw, provided by mBank and amounting to over EUR 28.4 million. CMS reportedly advised mBank.
Norton Rose Fulbright has advised ING Bank Slaski on financing the construction of a 44-megawatt photovoltaic portfolio in Poland for Doral Energy. CMS reportedly advised Doral Energy.
Allen & Overy has advised Solida Capital on its acquisition of the Grojecka 5 office building in Warsaw from Cromwell European REIT. CMS reportedly worked on the deal as well.
CMS has successfully represented El Consult PV in a civil dispute initiated by EPC contractor SimInvest claiming compensation for damages before Bulgarian courts.
BPV Huegel has advised Verbund on its acquisition of a Burgenland wind farm with a total nominal output of 10.15 megawatts from a private wind farm developer and operator. CMS advised the undisclosed sellers.
CMS has advised electricity trader Danske Commodities on the licensing of its Bulgarian activities before the country's Energy and Water Regulatory Commission, including for the coordination of a standard and combined balancing group.
Rymarz Zdort Maruta has advised the Bank Guarantee Fund on the sale of VeloBank to US fund Cerberus Capital Management for an investment amount of more than PLN 1 billion. Linklaters advised Cerberus.
Boyanov & Co recently announced that Borealis' acquisition of Integra Plastics (reported by CEE Legal Matters on December 8, 2023) had closed on March 29, 2024.
CMS and King & Spalding have successfully represented ACF Renewable Energy Limited – a JV between ACWA Power, Blackrock, and Crescent Capital – in an ICSID case against Bulgaria for the breach of fair and equitable treatment under the Energy Charter Treaty, concerning the 61-megawatt Karadzhalovo photovoltaic plant built in 2012.
CMS has advised Global Biomet on the EUR 50 million financing for the Aratiden PV project in Bulgaria granted by UniCredit Bulbank. CMS also advised on the project's two EPC contracts, with Green Solar Energy for substations and grid connection, and with Rashev & Co for the PV section.
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.
CMS has advised automotive manufacturing company Ford Otosan Romania on a EUR 435 million financing from a syndicate of banks, arranged by coordinating mandated lead arrangers and bookrunners Societe Generale and BRD Groupe Societe Generale.
Did you know that the CEE Q1 leaderboards are available through the Activity Rankings function of the CEELMDirect website?
CMS has advised the Cicor Group on its full acquisition of the Evolution Medtec Romanian engineering company.
CMS has advised mBank on the PLN 42 million financing for Zemportic Investments' acquisition of Polska Grupa Bruno-Tassi. Baker McKenzie advised Zemportic Investments. Wardynski & Partners advised a consortium of banks financing Polska Grupa Bruno-Tassi. MJH Moskwa Jarmul Haladyj and Forton Legal advised Bruno-Tassi.
Earlier this month, Bulgaria’s Competition Protection Commission (CPC) unveiled its strategic priorities for 2024, identifying sectors and activities that warrant increased regulatory scrutiny. These priorities will guide the CPC’s operational functions, which include market monitoring, signal verification, the initiation of administrative proceedings, market investigations, and ongoing enforcement actions.
Having a somewhat steady Government and Parliament since mid-2023 has led to more predictability in the Bulgarian regulatory environment for renewables. In October 2023, some important and significant changes to the RES Act entered into force, thus solidifying local support for renewable energy.
CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.
CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.
CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.
Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.
In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.