CEE Legal Matters is proud to introduce the latest in our Comparative Guides series. This one focuses on Real Estate in CEE.

A draft law proposing changes to Law No. 8116, dated March 29, 1996, “The Civil Procedure Code of the Republic of Albania,” has been submitted for approval to the Albanian Assembly. These amendments are part of a comprehensive initiative to enhance the efficiency of the judicial system and improve the overall quality of judicial proceedings in the country.

Albania’s gambling industry has undergone significant transformations over the past decade, shifting from a thriving sector to one under stringent regulation. Lalaj & Partners Partner Sabina Lalaj explores the evolution of gambling in Albania, the impact of regulatory changes, its current status in the economy, and the future outlook of the industry.

Mineral rights deals may seem like a big win, but they are not without risk. Considering the wider implications of mineral rights deals.

Sustainability-related disputes, cyber security issues, and corporate restructurings are shaping Austria’s legal dispute landscape, with courts and arbitration increasingly tackling ESG issues and greenwashing claims, according to Taylor Wessing Partner Ivo Deskovic who highlights a surge in insolvencies as well as the long-anticipated implementation of the EU Class Action Directive.

Dorda, working with Roschier, has advised European growth investor Sprints on its partnership with Styria Media Group to acquire all of Adevinta’s shares in Willhaben. Freshfields advised Adevinta. E+H advised Styria Media Group.

Contributed by Arzinger

The commercial legal markets of Central & Eastern Europe didn’t appear automatically. They didn’t develop in a vacuum. They were formed, shaped, and led, by lawyers – visionary, hard-working, commercially-minded, and client-focused individuals pulling the development of CEE’s legal markets along behind them as they labored relentlessly for their clients, their careers, their futures. 

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. This time around we asked: If you have a formal partnership track, how do you handle lawyers on it who do NOT end up living up to the requirements to make a Partner?

Former iQR Asset Management Partner and Head of Legal and Compliance Dino Aganovic, Wiener Osiguranje Vienna Insurance Group Head Of Legal and Secretary Davor Majstorovic, and MTEL in-house counsel Vladimir Bjekic have joined forces to launch AMB Legal Group in Bosnia & Herzegovina.

BDK Advokati has entered North Macedonia via a cooperation agreement with a local qualified independent Attorney at Law Josif Filipovski. Moreover, the firm has expanded its presence in Bosnia & Herzegovina with the addition of Melika Basic.

CMS has advised the Romanian Commodities Exchange on its acquisition of a 75% stake in the Bulgarian Energy Trading Platform.

Schoenherr has advised the Bulgarian Ministry of Energy on launching two support schemes under the Bulgarian Recovery and Resilience Plan.

Linklaters, working with Ergun, has advised Turkerler Holding subsidiary Turker Global Madencilik on a share purchase and option agreement for the acquisition of a gold mine development project in Bulgaria for USD 55 million from Toronto-listed Velocity Minerals and its joint venture partner, Gorubso Kardzhali. Lotz & Company reportedly advised the sellers.

Gospic Plazina Stojs Partner Lana Stojs talks about banking and finance in 2025 in Croatia.

Marohnic, Tomek & Gjoic Attorney at Law Ivona Zagajski talks about energy in Croatia in 2025.

MGG Law Partner Dino Gliha talks about TMT in 2025 in Croatia.

Dentons has advised Komercni Banka on acquiring a 49.9% stake in SG Equipment Finance Czech Republic from Societe Generale Equipment Finance. Jones Day and Schoenherr advised Societe Generale. White & Case reportedly advised SGEF owner BPCE.

Freshfields has advised Midea Group subsidiary Midea Electrics Netherlands on its EUR 750 million acquisition of the climate division from Arbonia AG. BDK Advokati advised Midea on the local aspects of the acquisition of Serbian company Termovent, as part of the broader transaction. Baker McKenzie advised Arbonia.

Clifford Chance has advised Atrium Group Services on the sale of Atrium Flora shopping center to Max Realitni. BNT Attorneys reportedly advised Max Realitni.

Papapolitis & Papapolitis, working with Paul Weiss, has advised Oak Hill Advisors on its equity investment of up to EUR 115 million in IDEAL Holdings, with a co-investment right for an additional EUR 200 million over the next two years. Sarantitis and Reed Smith reportedly advised IDEAL Holdings.

White & Case has advised Alpha Bank on the partial disposal of a portfolio of real estate assets in Greece. Karatzas Partners reportedly advised Alpha Bank as well. Sullivan & Cromwell and Potamitis Vekris reportedly advised the buyers.

Kyriakides Georgopoulos has advised Piraeus Bank, acting as an advisor, on the merger through absorption of Intracom Properties by Evropi Holdings.

Hungary’s legal and business landscape is undergoing significant transformation, driven by a steady increase in M&A activity, rapid digitalization, and evolving regulatory frameworks, according to DLA Piper Hungary Partner and Head of Intellectual Property and Technology Zoltan Kozma.

10+1 Questions and Answers for Hungarian Companies.

Wolf Theiss has advised Uniper on the implementation of photovoltaic projects in Hungary that will jointly deliver 151 megawatt-peak of renewable energy.

Walless, working with Gernandt & Danielsson, has advised ICA Gruppen on the sale of Rimi Baltic Group to Salling Group for EUR 1.3 billion. Sorainen reportedly advised Salling Group on the deal.

TGS Baltic has promoted Triinu Jarviste to Partner and Erki Fels to Associate Partner at the firm's Estonia office.

On August 1, 2024, the Artificial Intelligence Act (Regulation (EU) 2024/1689, AI Act) came into effect, establishing several regulations concerning artificial intelligence systems within the European Union. Although the regulation is already in force, its requirements will gradually come into effect: the first deadlines are set for February and August 2025, while most of the requirements will apply starting August 2, 2026.

The Law for Protection of Personal Data (LPPD) in Kosovo establishes guidelines for protecting personal data and regulates its transfer to other countries.

Kalo & Associates has advised the European Bank for Reconstruction and Development on a partnership with Raiffeisen Bank Kosovo under the Norway Western Balkans Growth Support Program.

The COVID-19 pandemic accelerated the shift toward remote work globally, including in Kosovo. While this new way of working offers flexibility and convenience, it also exposes gaps in labor regulations. Kosovo’s Labor Law, like many others, was primarily designed for traditional in-office work environments and has yet to fully adapt to the nuances of remote work. Remote work context has brought to attention legal gaps in areas such as work hours, digital privacy, employer responsibilities, and employee rights.

Cobalt has advised European Energy on EUR 68 million financing to construct a 148 megawatt-peak solar farm in Latvia. Sorainen, Watson Farley & Williams, and Moalem Weitemeyer reportedly advised the lenders.

Walless, working with Gernandt & Danielsson, has advised ICA Gruppen on the sale of Rimi Baltic Group to Salling Group for EUR 1.3 billion. Sorainen reportedly advised Salling Group on the deal.

Cobalt has advised Coffee Address Holding on raising EUR 5 million in a private bond placement, to support its growth strategy, with Signet Bank as the arranger.

Walless, working with Wachtell, Lipton, Rosen & Katz, has advised Triumph Financial on the acquisition of Greenscreens.ai via a transaction valued at USD 160 million.

Walless, working with Gernandt & Danielsson, has advised ICA Gruppen on the sale of Rimi Baltic Group to Salling Group for EUR 1.3 billion. Sorainen reportedly advised Salling Group on the deal.

Addleshaw Goddard’s infrastructure and energy practice has been active across Central and Eastern Europe, with projects spanning battery storage, energy investments and motorways in Poland, disputes in Romania, and offshore wind development in Lithuania, according to Partner Marton Eorsi who highlights the growing necessity of private sector involvement in CEE, particularly in transport, energy transition, and urban mobility.

The Commission for Protection of the Competition of North Macedonia (CPC) has significantly intensified its enforcement activities in the food retail sector, signalling a stricter regulatory approach toward potential anti-competitive behaviour.

On 5 February 2025, the Constitutional Court of the Republic of North Macedonia (“Court”) annulled the Solidarity Tax Law (“Law”), ruling that it violated several key constitutional principles.

Law Office Lazarov Attorney at Law Gordana Susuleska-Itic talks about banking and finance in 2025 in North Macedonia.

ACI Partners  Legal Manager Carolina Parcalab talks about competition in Moldova in 2025.

Vernon David Partners Sergiu Bivol and Roman Ivanov talk about M&A in Moldova in 2025.

Over the past few years, the gaming sector has been thriving in CEE. Kinstellar Partner Milan Samardzic, Rowan Legal Partner Milos Olik, ACI Partners Head of Fintech and E-Payments Nicolina Turcan, and Linklaters Warsaw Associate Aleksandra Czubek explore how CEE jurisdictions are driving the industry forward and unlocking new potential.

The Law on Amendments to the Law on Prevention of Money Laundering and Terrorist Financing ("Law") has been adopted, and a decree on its promulgation has been issued. The Law was published in the “Official Gazette of Montenegro” on 12^th March 2025, and it enters into force on 20^th March 2025.

Jovovic, Mugosa & Vukovic Attorney at Law Bojana Nikcevic discusses the impact of judicial delays, activities of the Bar Association, and the legislative changes that are set to reshape Montenegro’s competition law, business regulations, and corporate compliance in the country.

Karanovic & Partners has advised the Green for Growth Fund on a EUR 3 million loan to Lovcen Bank Podgorica.

Dentons, working with Griffiths & Partners and Massiah Law, has advised Bank Gospodarstwa Krajowego on a long-term investment loan of up to USD 60 million granted to the Molo Group, owned by the Slominski family. JedwabnyLegal, Isolas and Miller, Simons and O’Sullivan reportedly advised the Molo Group.

CK Legal Chabasiewicz Kowalska has advised the City of Kielce on the sale of 99% of Korona shares to Korona 4ever, a company owned by Lukasz Maciejczyk, with the city retaining a 1% stake.

Rymarz Zdort Maruta has promoted Lukasz Lech, Adam Puchalski, Krzysztof Rembierz, Maria Szczepanska, and Piotr Zawacki to Partner.

Clifford Chance advised Alpha Bank and Alpha International Holdings on the full sale of Alpha Leasing Romania IFN and Alpha Insurance Brokers to Vista Bank Romania.

BPV Grigorescu Stefanica has advised Autonom International on its investment in the Romanian insurer Eazy Insurance. Bulboaca & Asociatii reportedly advised Eazy Insurance.

RTPR has advised Arobs Transilvania Software on the acquisition of SVT Electronics. Radulescu & Musoi advised SVT Electronics.

Contributed by Clifford Chance.

Contributed by Alrud.

The commercial legal markets of Central & Eastern Europe didn’t appear automatically. They didn’t develop in a vacuum. They were formed, shaped, and led, by lawyers – visionary, hard-working, commercially-minded, and client-focused individuals pulling the development of CEE’s legal markets along behind them as they labored relentlessly for their clients, their careers, their futures. 

ZSP Advokati, working with Dentons and Harneys, has advised NLB Komercijalna Banka Beograd and Banca Intesa Beograd on the financing of the Airport City East Gate Business Tower 1 project, developed by AFI Europe.

Karanovic & Partners has advised the European Fund for Southeast Europe’s Regional Sub-Fund and the Green for Growth Fund on providing two MREL-compliant loans to Serbian AIK Banka.

BDK Advokati has advised A1 Srbija on its acquisition of Conexio Metro from Madison Debt Holdings. Kinstellar advised the sellers.

CMS has advised joint lead managers HSBC, J.P. Morgan, Slovenska Sporitelna, and Tatra Banka on the Slovak Republic’s bond issuance of EUR 3 billion 3.750% notes due 2040.

The transfer of a business share is a routine process in corporate transactions. A share purchase agreement (SPA) must be in writing with notarized signatures. The transfer becomes effective upon the company's receipt of the SPA unless a later date is specified. However, if required by law or the memorandum of association (MoA), it cannot take effect before the general meeting grants approval. Each transfer must also be registered in the Slovak Commercial Register (“Commercial Register”). In practice, complications may arise when one party withdraws from an SPA.

Eversheds Sutherland Managing Partner Bernhard Hager talks about energy in Slovakia in 2025.

Ketler & Partners, a member of Karanovic, has advised Hocevar on the sale of the Lambergh Chateau & Hotel in Radovljica, Slovenia, to Orthos Nepremicnine.

The Slovene language has long been a core part of Slovenia’s national identity, instrumental in unifying the nation during its journey to independence in 1991. However, globalization and digitalization have increasingly challenged the prominence of Slovene in public and commercial domains. This pressure has placed responsibility on the Slovenian government to safeguard the language’s role in the face of a rapidly globalizing world. Recent amendments to the Act on the Public Use of Slovene (Act) reflect this commitment to preserving and expanding Slovene’s presence in public, commercial, and digital spheres.

CEE Legal Matters is proud to introduce the latest in our Comparative Guides series. This one focuses on Real Estate in CEE.

White & Case and its Turkish affiliate law firm GKC Partners have advised Morgan Stanley as the bookrunner on the Rule 144A/Reg S debut Eurobond issuance by GDZ Elektrik. Unsal advised GDZ Elektrik.

White & Case and its Turkish affiliate GKC Partners have advised Fingen on establishing a joint venture with Kalyon for the development of the Florentia Village designer outlet project. 

Pursuant to the Competition Board’s (“Board”) decision dated 15.12.2022 and numbered 22-55/850-M, an investigation was initiated to determine whether Nestle Türkiye Gıda Sanayi AŞ (“Nestle”) infringed Article 4 of the Law No. 4054 on the Protection of Competition (“Competition Law”) by (i) setting the resale price of its distributors and (ii) imposing regional and customer restrictions on them.

On 21 February 2025, the Cabinet of Ministers of Ukraine, by Resolution “On Amendments to the List of Activities Encouraged by the Creation of Diia City Legal Regime” No. 204 (the “Resolution”), expanded the list of eligible activities for Diia City residency.

Sayenko Kharenko has advised MHP on the specifics of applying autonomous trade measures, first introduced by the EU in June 2022 to support Ukraine’s economy. 

Sayenko Kharenko, working with Appleton Luff, has represented Promet Steel – part of Metinvest – in an anti-dumping investigation by Canadian authorities.