The Constitution of the Republic of Croatia abolished “social ownership” in 1990 and introduced a universal type of ownership – private ownership. Legislation that followed the introduction of the Croatian Constitution specified how social companies were to be transformed into private companies. To establish private ownership over companies undergoing this transformation, the companies had to appraise the property used in their share capital. However, land that was used by said companies that was located in the zones for tourism-related purposes near the Adriatic coast (which we will refer to as the “tourist land”) was often not appraised in its entirety towards share capitals, as the intention was for it to become the property of the state for developing Croatian tourism strategies. Therefore, social companies performing tourism-related activities (e.g., hotels and camps) often appraised only buildings, while the land on which the activities were also performed was left un-appraised, yet continued to be used without compensating the real owner – the state.
Krehic & Partners in cooperation with Deloitte Legal has advised Nipro PharmaPackaging, a supplier of glass primary packaging for the pharmaceutical industry, on the acquisition of Croatian glass pharmaceutical packaging manufacturer Piramida from Blue Sea Capital. Savoric & Partners advised the sellers on the deal.
On April 1, 2021, CEE Legal Matters reported that ODI Law had advised the MSIN Group on the acquisition by member company EGP of a 75.11% stake in Croatia-based cardboard packaging manufacturer Neograf from Croatian entrepreneur Dusan Boras. CEE In-House Matters spoke with Tina Bacic, Corporate Legal Advisor at MSIN Group, to learn more about the matter.
On March 3, 2021, CEE Legal Matters reported that Marohnic, Tomek and Gjoic had advised both Day One Capital and Orqa Holding Limited on the former’s EUR 1.3 million investment in the latter. CEEIHM spoke with Srdjan Kovacevic, CEO at Orqa Holding Limited to learn more.
Akin Gump, Bogdanovic, Dolicki & Partneri, Maric & Co, Isailovic & Partners, Harrisons, Zdolsek Attorneys at Law, Boga & Associates, Popovski & Partners, and Forgo Damjanovic & Partners have advised Croatian conglomerate Fortenova Grupa d.d., on the EUR 615 million sale of its frozen food business to Nomad Foods. Norton Rose Fulbright, Lakatos, Koves & Partners, and five firms from the SEE Legal alliance advised Nomad Foods on the deal, which is expected to close in the third quarter of 2021.
On December 15, 2020 CEELM gathered legal experts from across the region for its annual Year-in-Review Round Table conversation. In a wide-ranging discussion, participants shared opinions and perspectives on their markets, on strong (and less-strong) practices across the region, and the effect of the COVID-19 crisis on both, as well as on how technology is changing the legal industry, and what the industry will look like in 2021.
How the Covid-19 Pandemic and Technological Innovations affect the insurance and M&A Market. As we are all aware, the last year was challenging for almost all industries, including the insurance companies, which were inevitably affected by both COVID-19 pandemic and technological innovations, and now must face the forthcoming risks and challenges.
New technologies are all the rage, as law firms adapt to the telecommuting and digitalization realities that accompanied the Covid-19 pandemic. Accordingly, we decided to ask our Law Firm Marketing experts from across the region a simple question: “What is the single most important/valuable piece of software you use?” As always, we asked respondents to focus on the question at hand, rather than – as we put it – using the question simply as an excuse to “tell us that their firms are awesome.” Not everyone was able to resist.