Month: January 2021

Rymarz Zdort advised European Logistics Investment (ELI), a dynamically growing logistics platform in Poland, on the execution of a documentary transaction and on the purchase of land and construction of a state-of-the-art logistics centre.

ELI will construct a logistics centre with an area of over 18,000 square metres, to be located in Skawina, Kraków district. The Kraków V facility will be the third investment project implemented by ELI in this area, and will be developed in cooperation with ELI’s partner Panattoni, a market leader in the industrial property sector. Nearly 20% of the space has already been leased out to the RTV Euro AGD chain store. The project is expected to be completed in the second quarter of 2021.

ELI’s portfolio includes 19 logistics parks with a total leasable area of more than 600,000 square metres, located in Warsaw, Łódź, Kraków, Wrocław, Upper Silesia and other places. The company is planning to further expand in the coming years.

The firm’s transaction team was headed by Piotr Fedorowicz, an advocate and a partner managing the real estate practice. The transaction team comprised:  Michał Kostewicz, an associate, Izabela Skrzypczak, an attorney-at-law and an associate, and Tomasz Karkowski, an associate.

 

Rymarz Zdort provided legal advisory services to two major shareholders of Ten Square Games S.A. (the “Company”) and the founders of the Company, Maciej Popowicz and Arkadiusz Pernal, in connection with an offer for the sale of shares in the Company conducted by way of an accelerated book-building process.

As part of the transaction, Maciej Popowicz and Arkadiusz Pernal sold shares in the Company representing 9.78% of the share capital and the total number of votes in the Company with a total value of PLN 355 million. After the settlement of the transaction, Maciej Popowicz holds 1,615,000 shares in the Company constituting 22.2% of the Company’s share capital and Arkadiusz Pernal holds 807,600 shares in the Company constituting 11.1% of the Company’s share capital.

Ten Square Games S.A. is a Polish producer and publisher of F2P (free to play) games for mobile devices (smartphones and tablets) and browsers. The Company competes in the global market and its games are available in most countries of the world. Currently, it is one of the most highly valued companies in the gaming industry listed on the regulated market operated by the Warsaw Stock Exchange.

The team advising on the transaction included Paweł Zdort, a managing partner of Rymarz Zdort, and Ewa Bober, a partner in the corporate department specialising in capital markets transactions.

In the latest edition of Mergermarket Global & Regional M&A Report for 2020, Rymarz Zdort maintains its leading position in the ranking for Poland. Rymarz Zdort is proud to be ranked in first place in terms of the number of deals and third in terms of deal value. According to the report, in 2020, Rymarz Zdort advised on 11 transactions with a total value of approximately USD 3.5 billion.

In 2020, Rymarz Zdort advised, among others, the exiting shareholder on the sale of the shares in Globe Trade Centre to Optima Investments; AccorHotels on the execution of a share sale agreement and the launch of a tender offer by Accor Invest for the sale of the shares in Orbis, including the entire equity stake in Orbis held by AccorHotels; Vectra in connection with the takeover of Multimedia Polska; and Innova Capital and OPTeam in connection with the sale of Centrum Rozliczen Elektronicznych Polskie ePlatnosci to a subsidiary of Nets.

“First and foremost, we would like to thank our clients. Our success to date is due largely to the trust of our clients. Both as part of Weil, Gotshal & Manges and currently under the Rymarz Zdort brand, we are invariably maintaining a leading position.” said managing partner Paweł Zdort.

Rymarz Zdort has advised Pekao in the acquisition of certain assets and rights, as well as certain liabilities of Idea Bank, in the course of a resolution process commenced by the Bank Guarantee Fund.

The Bank Guarantee Fund’s decision to initiate the resolution process of Idea Bank is the first instance of resolution instruments being applied with regard to a Polish commercial bank listed on the Warsaw Stock Exchange.

The transaction involved the assumption by Pekao of the rights and assets constituting the enterprise and liabilities of Idea Bank, with certain exclusions, as stated in the relevant decision of the Bank Guarantee Fund.  The value of the liabilities assumed by Pekao is PLN 14.6 billion.

Pekao received support in the form of a subsidy from the Bank Guarantee Fund to cover the difference between the value of the liabilities being assumed and the value of the acquired rights and assets. Furthermore, the Bank Guarantee Fund provided a loss-coverage guarantee to Pekao with regard to the losses resulting from the risk associated with the acquired assets, rights and liabilities.

In the course of the precedent-setting transaction, Rymarz Zdort provided comprehensive legal services to Pekao and was responsible for preparing the entire transaction documentation.

The transaction team was led by Dr hab. Łukasz Gasiński, a corporate partner and head of the regulatory practice, and Magdalena Pyzik-Waląg, a corporate partner and head of the restructuring, bankruptcy and distressed assets practice.

The transaction team also included Jerzy Bombczyński, corporate counsel and member of the banking and finance team and the restructuring and bankruptcy practice, Anna Krzanicka-Burda, a senior associate in the corporate department and member of the restructuring and bankruptcy practice, Szymon Cieniawski, an associate in the corporate department and member of the regulatory practice, Anna Aranowska, an associate in the corporate department and member of the regulatory practice, and Aneta Kmoch, a litigation associate.

Iwona Her, a corporate partner and head of the antitrust practice, provided support on state aid issues and competition and consumer protection law.

Additional advice in the course of the transaction was provided by the following specialists: Marcin Chyliński, a corporate partner, Dr Jakub Zagrajek, a corporate partner, Monika Kierepa, a corporate partner, and Krzysztof Sajchta, a litigation partner.