- CMS Law

CMS_LawTax_CMYK_28-100.eps
Acquisition finance
in CEE
2014
Our key acquisition finance transactions
About our CEE Banking team
—— A centre of excellence for English law governed
finance transactions in the region
—— English and local law capabilities available on
the ground
—— Full CEE coverage with offices in 14 CEE
jurisdictions
—— In the region for more than 20 years
We have advised on:
—— The 1st leveraged privatisation in CEE
—— The 1st leveraged public to private leveraged
buy out in CEE
—— The 1st syndicated leveraged buy out in CEE
—— The 1st leveraged buy out in Bulgaria,
Hungary, Romania and Serbia
—— The 1st leveraged public offer in Poland
—— The 1st leveraged buy out in Slovenia and the
first “post-Lehmann” LBO in CEE
Key contacts
Paul Stallebrass
Partner, CEE Head of International
Banking & Finance
TT +420 296 798 805
EE paul.stallebrass@cms-cmck.com
Ana Radnev
Partner, International Banking & Finance
TT +420 296 798 862
EE ana.radnev@cms-cmck.com
Mark Segall
Partner, International Banking & Finance
TT + 420 296 798 702
EE mark.segall@cms-cmck.com
Pan-CEE
—— BNP Paribas, Erste Bank, ING, UniCredit, Banca IMI,
Credit Agricole, Raiffeisen and Société Générale on
Mid Europa Partner’s €330 million leveraged
recapitalisation of SBB Serbia, Telemach Slovenia and
Telemach Bosnia, the leading cable TV and
broadband internet providers in the territory of the
former Yugoslavia.
—— Advent International on the financing of its
acquisition of the Provimi Pet Food group (CEE,
France and The Netherlands).
—— BC Partners on the financing of its acquisition of
Futurelab and Synlab (Czech Republic and Austria).
2 | Acquisition finance in CEE and SEE
—— Kohlberg Kravis Roberts (KKR) on the financing of
its proposed bid for Inbev.
—— GMT Communications Partners on the financing of
its acquisition of the business and media division of
Springer (CEE, Germany, Switzerland and Sweden).
—— Raiffeisen Bank International on financing the
acquisition of the CEE furniture retailer Lesnina with
assets in the Czech Republic, Slovenia and Croatia by
a leading Austrian retailer.
—— Kohlberg Kravis Roberts (KKR) on the financing of its
acquisition of SBB/Telemach Group, the leading
regional Pay TV and broadband operator in South
East Europe, in Serbia, Montenegro and Macedonia.
Bulgaria
—— CableTel on the financing and acquisition of 14
telecommunication companies in Bulgaria and
Macedonia.
—— Advent International on the financing of its
acquisition of BTC, the first leverage privatisation in
CEE and the first leveraged buy out in Bulgaria as
well as the subsequent refinancing.
—— Advent International on the financing of its
acquisition of Kai Group.
Croatia
—— Erste Bank on the financing of Bancroft’s acquisition
of CityEX.
—— Erste Bank on the financing of a bid for Bnet.
Czech Republic
—— ING, UniCredit and Raiffeisen on the €150 million
leveraged acquisition by Mid Europa Partners of
Alpha Medical, a leading laboratory diagnostics
provider in Slovakia, the Czech Republic and Poland.
—— Advent International on the financing of its
acquisition of TES Vsetin and Mez Servis.
—— Mezzanine Management on the mezzanine
financing and equity co-investment into Invia.cz, a
leading travel agency.
—— JP Morgan Partners, AIG/Mid Europa Partners and
Barings Communications on the financing of the
acquisition of ICZ (later Karneval), the first
syndicated LBO in CEE.
—— Advent International on the financing of its
acquisition of CCS.
—— Bank Austria Creditanstalt and Erste Bank on the
financing of Pamplona’s acquisition of Pegas
Nonwovens.
—— Mid Europa Partners on the financing of its
acquisition of a majority stake in ENERGY 21, one of
the largest Czech developers and operators of solar
power plants in the Czech Republic.
Hungary
—— OTP on the acquisition financing of an energy
company e-Star, listed both on the Budapest and
Warsaw Stock Exchange.
—— Bluehouse Capital on the acquisition financing of the
Infopark E Building, as well as a TESCO hypermarket
in Budapest.
—— Advent International in connection with its financing
of Danubius Radio.
—— Senior lenders on the restructuring of Borsodchem,
and major Hungarian chemicals company owned by
Permira.
Latvia
—— Two of the bidders on the financing of their bids for
Lattelecom.
Lithuania
—— GMT Communications Partners on the financing of
its bid for Bite.
—— Advent International on the financing of its bid for
Sanitas.
Poland
—— Value4Capital and home.pl on the senior financing
provided by BRE Bank and mezzanine financing
provided by Syntaxis Capital for the acquisition of
another provider of internet hosting and domain
registration services in Poland.
—— BNP Paribas, ING and Raiffeisen on the financing of
Bridgepoint’s acquisition of Dr Gerard, a producer of
branded and private label biscuits in Poland, from
Groupe Poult of France.
—— Grupa o2 (one of the largest internet entities in
Poland) and Innova Capital on the financing provided
by Polska Kasa Opieki for the acquisition of shares in
Wirtualna Polska Poland’s first web portal being
an interactive platform for communication,
information, e-commerce and e-business.
—— Resource Partners on the financing provided by Alior
Bank and Erste Bank as senior lenders for the
acquisition of Drogerie Natura.
—— ING and UniCredit on the financing of Advent
International’s public to private acquisition of listed
company WSIP.
—— Erste Bank on the financing of Innova Capital’s
acquisition of Marmite International.
—— UniCredit on the financings of bids by (1) Carlyle (2)
Arcapita and (3) Doughty Hanson for Hortex SA.
—— UniCredit on the staple financing of the sale of
Malta Dekor and subsequently on the financing of
Advent International’s bid for Malta Dekor.
—— Advent International on the financing of its
acquisition of Kamax and Keystone (Axtone).
Romania
—— Advent International on the financing of their
acquisition of Terapia, the first leveraged public to
private in CEE and first leveraged buy-out in Romania.
—— Erste Bank in the acquisition finance of the La
Fantana mineral water business in Romania and
Serbia, for an Innova fund.
—— Advent International in the financing (arranged by
UniCredit) of its €123 million acquisition of
LaborMed Pharma, the largest independent generic
pharmaceutical producer in Romania.
—— Advent International on the financing of its bid for
Sindan.
—— DGB and Oresa Ventures on the financing of their
acquisition of shares in the Bucharest Stock
Exchange listed company Flamingo.
—— HSBC in €75 million loan facilities from Alpha Bank
for its acquisition and operation of the Doraly
“Chinese Market” wholesale market and warehouse
complex in Bucharest.
Russia
—— Sberbank on security arrangements under a USD
283 million debt refinancing provided to a Cypriot
company Sermules Enterprises Limited to acquire an
oil-refining factory in Russia.
—— UniCredit on an acquisition finance facility to a holding
company of a major rail transportation business.
Serbia
—— Ring International Holding (RIH) on the Serbian
aspects of the multi-jurisdictional financing for the
acquisition of Helios Group, one of the 15 largest
paint manufacturers in Europe.
—— UniCredit as the leader of a syndicate of 19 banks
including Crédit Agricole, Erste Bank, Raiffeisen and
Société Générale on a €470 million acquisition
finance and refinancing facility to Serbian stateowned telecom provider Telekom Srbija.
—— UniCredit on the financing of the acquisition by Mid
Europa Partners of Serbia Broadband, the first LBO
in Serbia.
Slovakia
—— Argus Capital on the financing of its bid for the
Slovak towers business.
Slovenia
—— BNP Paribas, ING, UniCredit and West LB on the
financing of the acquisition by Mid Europa Partners
of UPC Telemach, the first LBO in Slovenia and the
first ‘post-Lehmann’ LBO in CEE.
Turkey
—— ING and EBRD on the structured financing to Pronet,
a Turkish security company owned by UK private
equity fund Cinven, for the refinancing of existing
debt as well as future capital investment.
—— Zentiva on the financing of its acquisition of
Eczacibasi.
—— Advent International and Turkven on the financing
of their acquisition of Roma Plastik.
—— UniCredit on the financing of Blackstone and
Agrokor’s bid for listed company Migros.
—— Turkven on the financing of its acquisition of
Domino’s Pizza.
—— Advent International on the financing of its bids for
listed company Deva Pharmaceuticals.
Ukraine
—— PJSC Ukrsotsbank, the Ukrainian branch of
UniCredit, and ING Bank on a US$100 million
corporate and acquisition financing to a leading
Ukrainian agribusiness Kernel Holding.
3
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© CMS Legal Services EEIG (2014)
Rio de Janeiro
CMS Legal Services EEIG (CMS EEIG) is a European Economic Interest Grouping that coordinates an
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