Posts

Schoenherr strengthens Warsaw real estate practice group

Schoenherr Warsaw further strengthens its real estate practice with the addition of three highly qualified specialists. They bring a wealth of knowledge and an excellent track record to Schoenherr’s dynamic Polish office. Prior to joining Schoenherr, the new team members worked in real estate and real estate finance with leading international firms in Poland.

  • Marta Bijak-Haiduk, joining as partner, has vast experience with various types of real estate transactions, including JVs, financing structures, asset and share deals. She has represented clients in negotiations of lease agreements concerning logistics, office and retail buildings as well as in build-to-own development agreements, and advised on the construction process. Marta takes over the helm of the firm’s real estate practice.
  • Dominika Sulak-Seyfried, senior attorney at law/advocate, focuses on advising domestic and international entities on real estate transactions, as well as construction and development projects, including various aspects of financing.
  • Patrycja Czarnecka, associate/advocate, works primarily on transactional real estate matters and her legal career has been focused on various real estate transaction related topics.

“Schoenherr has a strong real estate practice in the CEE/SEE,” said partner Sebastian Gutiu, who co-heads Schoenherr’s real estate practice. “As Poland continues to play a key role in the regional real estate market, we are confident that the consolidation of our specialised team in Warsaw will add value for our clients and our firm.”

“I am delighted to welcome Marta, Dominika and Patrycja to our Warsaw practice,” the office’s managing partner Paweł Halwa added. “I am convinced that they are a great fit for our team and that the strengthened real estate practice led by Marta will further boost our growth in Poland.”

“This is an amazing experience to be a member of Schoenherr and I am eager to continue to develop the real estate practice together with such an exceptional team,” said the new head of the Warsaw real estate team, Marta Bijak-Haiduk.

Schoenherr Poland

Schoenherr’s Warsaw office is a full-service practice that focuses on mergers & acquisitions, capital markets, banking & finance, real estate and energy. Our team of lawyers advises domestic and international clients on investing in Poland and on cross-border transactions. We have particular experience in mergers and acquisitions, joint ventures, private equity, privatisations, public takeovers, initial public offerings, real estate acquisition, sale and development, financing of M&A and real estate projects and renewable energy. Our client list includes national and international corporate groups from several industries, including banks, real estate developers, investment funds, private equity funds, manufacturers, distributors and industrial companies.

White & Case advises insurers on restructuring of Trakcja PRKiI

Global law firm White & Case LLP has advised AXA Ubezpieczenia Towarzystwo Ubezpieczeń i Reasekuracji S.A., Credendo – Excess & Surety Societe Anonyme operating in Poland through Credendo – Excess & Surety Spółka Akcyjna Branch in Poland, Generali Towarzystwo Ubezpieczeń S.A., Korporacja Ubezpieczeń Kredytów Eksportowych S.A., Sopockie Towarzystwo Ubezpieczeń Ergo Hestia S.A., Powszechny Zakład Ubezpieczeń S.A. and Uniqua Towarzystwo Ubezpieczeń S.A. on the restructuring of the financial debt of Trakcja PRKiI S.A. and its subsidiaries.

As a result of the restructuring, Trakcja PRKiI S.A. obtained overall financing of around PLN 1.2 billion in the form of various financial instruments including revolving loans, subordinated loans, funds from share capital increases, bank guarantees and insurance guarantees.

“This is one of the most complicated restructurings in Poland in recent years,” said White & Case partner Tomasz Ostrowski. “The document approval process took more than six months and involved more than ten financial institutions. The documentation is governed by Polish law, but the transaction also includes important elements of English and Lithuanian law.”

The White & Case team in Warsaw which advised on the transaction included partner Tomasz Ostrowski and local partner Aneta Urban.

If you would like to find out more information, please visit: https://www.whitecase.com/

K&P Authors a Report on M&A Market Structure in Poland

The K&P Transaction Advisory and Analysis team has prepared a report on the structure of the M&A market in Poland. The report presents an in-depth analysis of current trends in the M&A market and phenomena affecting its structure in the first half of 2019.

The report presents the situation on the mergers and acquisitions market in terms of value and number of transactions across particular sectors, origin of the capital, supply side of the market, type of investors, blocks of shares purchased, as well as potential events that may impact the market.

Read More:

PwC appoints six Advisory partners in Poland and Russia

The six partners bolster PwC’s Advisory division, which houses the firm’s services in management and digital consulting (‘PwC Consulting’), corporate finance and mergers and acquisitions (PwC Deals) and forensics (‘PwC Forensics’).

In Poland, Maciej Kroenke has become a partner in PwC’s Strategy practice. He joined the Big Four firm at the start of 2016 from a boutique Polish consultancy specialised in pricing and revenue management. Previously, he worked as a consultant for Simon-Kucher & Partners and held several roles in pricing in industry. At PwC, Kroenke leads PwC’s services in the area of revenue management with a focus on pricing, promotions, sales excellence, customer loyalty and digitisation of commercial functions.

Piotr Rudzki has been appointed a partner in the Valuations & Economics team, which is a service line within PwC Deals. He re-joined PwC in 2017 following an eight year spell in investment banking, having previously served the accounting and consulting giant for four years. Warsaw-based Rudzki specialises in corporate finance, business valuations, financial models and M&A services.

Sixteen years after starting her career at PwC, Katarzyna Podgórna has now been admitted into the firm’s leadership ranks. She is a partner in the Capital Markets and Accounting Advisory Services arm, leading a team which develops and implements solutions to improve processes within finance departments, with a focus on the financial services industry. Interrupting her tenure at PwC Poland were two external stints – one at rival EY (five years) and a 12-month secondment at PwC in the UK.

Part of the Financial Services industry group, Łukasz Żochowski has been tasked with expanding PwC’s Advisory services to banks and insurance groups, among others. He has been with PwC for his entire career, and has grown into a specialist in risk management services for financial institutions, including risk analytics/modelling, risk-IT implementations, regulatory & compliance and remediation topics. He is a leader in the firm’s CEE-wide Risk Management group.

Maciej Przybyłowski is a partner in PwC’s Financial Crime Unit, which helps financial institutions battle the growing threat of financial crime, including the likes of anti-money laundering, terrorist financing, bribery and corruption, market abuse and insider dealing. He joined PwC in 2016, after serving among others telecom group Orange, GE and local Polish banking subsidiary Bank BPH, and Citi. Przybyłowski has been tasked with developing PwC’s financial crime offerings in domestically and in the region.

Meanwhile, in Russia, where PwC has over 2,600 professionals working across offices in Moscow, St. Petersburg, Ekaterinburg, Kazan, Rostov-on-Don, Krasnodar, Voronezh, Novosibirsk, Yuzhno-Sakhalinsk and Vladikavkaz, PwC has appointed Olga Maydanik a partner in the firm’s Deals wing.

Maydanik joined PwC in Moscow in 2009 after serving the Russian arm of Deloitte for five years. At PwC Deals, she supports clients with M&A and transaction services, with a focus on transactions in the energy, oil & gas and transport & logistics sectors. Maydanik holds a Master of Economics from Moscow’s Lomonosov State University.

K&P has advised EPP on the acquisition of the O3 Business Campus II

Echo Polska Properties N.V. (EPP) has acquired from Echo Investment S.A. another building of the O3 Business Campus office complex in Krakow under the right of first offer (ROFO) contract. The office building, constituting the second stage of the O3 Business Campus office was valued at EUR 49.2 million.

The second of three buildings of the office complex at ul. Opolska in Krakow, in accordance with the ROFO (Right of First Offer) Agreement made in 2016, is now the property of the subsidiary of Echo Polska Properties N.V. – Ventry Investments. EPP paid Echo Investment (or more precisely its subsidiary, i.e. Echo-Opolska Business Park) part of the sale price of EUR 43.5 million, which will be then supplemented with an additional EUR 7.3 million upon completion of the fit-out works in the building.

The O3 Business Campus investment comprises three office buildings located at ul. Opolska in Krakow. The complex attracts many shared services sector companies, with each office building offering 19 thousand sqm. lease space. The first of these was bought by EPP in December 2016, with the construction of O3 Business Campus II being subsequently completed in the third quarter of 2017. It is part of the office complex offering A class quality. Most of the space is leased by HCL Poland and HedgeServ. The third building of the complex is still under construction, with completion scheduled for the first quarter of 2018.

Echo Polska Properties N.V., as a company operating as a REIT, invests in the commercial, office and warehouse real estate sectors throughout Poland. The company is listed on the Luxembourg and Johannesburg stock exchanges, and has set itself the goal of establishing a forefront commercial entity in Poland generating significant profit for shareholders. As a consequence, Echo Polska is consistently acquiring new facilities to attract the shared services sector. Echo Investment S.A. in turn, as the largest Polish developer, regularly sells finished buildings in short intervals, in accordance with its strategy of profitable growth.

“We have now undertaken a number of transactions for Echo Polska Properties in what we believe to be a strong and trusted relationship. EPP continues to strengthen its position as a leading investor on the Polish commercial real estate market. We are proud to work closely with our Client so that they can achieve their goals ” – said Kamil Osiński, Partner at K&P, Advocate and Head of Real Estate Practice.

Kochański & Partners team was headed by Kamil Osiński (Partner, Head of Real Estate Practice) and Malwina Stajniak (Associate, Real Estate) with the participation of Marcin Rżysko (Senior Associate, Real Estate), Dr Marcin Huczkowski (Senior Associate, New Technologies & Telecommunications), Klaudia Szymańska (Senior Associate, Financial Services), Dr Agnieszka Serzysko (Senior Associate, Financial Services), Katarzyna Cybulska (Senior Associate, Infrastructure & Construction), Joanna Kośmider (Real Estate), Piotr Ząbkiewicz (Associate, Corporate / Mergers & Acquisitions), Aneta Serowik (Associate, Corporate) and Kamil Wróblewski (Junior Associate, Real Estate).

Echo Investment S.A. was represented by Weil Gotshal & Manges.