Corporate/M&A

Bulgaria’s M&A Market – The Calm Before the Storm or Simply the “New Normal?”

It has been a challenging year for the Bulgarian M&A market, with limited activity, just like in 2019. Undoubtedly, one of the reasons for the slowdown is that business is overshadowed by the coronavirus pandemic. Many acquirers abandoned expansion plans in order to focus on protecting both their financial stability and their employees, while waiting to assess the market environment and evaluate potential next steps. Many planned or already-started deals were cancelled at early stages (such as following a letter of intent or during preliminary due diligence) as uncertainty about the fulfilment of potential goals made the transactions risky.

Slovakia: The Pitfall Named 59a – Still an Issue?

One could argue that transparency and safeguard regulations in related-party transactions of companies should be well established and should not be an issue in M&As in the current environment. However, this is not the case with Section 59a of the Slovak Commercial Code, which found its way into the Code via the implementation of the Second Council Directive 77/91/EEC.

Corporate Changes That Make Romania More Attractive for Holding Companies

Back in July 2020, the Romanian Companies Law was amended to allow entrepreneurs to hold the position of sole shareholder in more than one Romanian limited liability company.

Significant Changes to Czech Corporate Law – the Impact on the Operations of Companies and Ongoing Transactions

Czech corporate law has changed significantly over these past few years. In 2014, the Act on Corporations replaced the Commercial Code that had been in place since 1991. On January 1, 2021, an additional amendment to the Act on Corporations (the “Amendment”) will go into effect.

Polish M&A Market – Times Are Changing

Looking back at 2020, one can draw some conclusions and identify some trends in the Polish transactional market likely to stay with us in 2021.

Market Snapshot: Recent Developments and Major Amendment of the Business Corporations Act

The M&A market in 2020 has been significantly affected by the coronavirus pandemic. According to the latest quarterly M&A overview prepared by CzechInvest, the leading agency supporting business and investments in the Czech Republic, “in a very short period of time and on a large scale, many companies have had to close down or limit their operations, dismiss stuff members, and disrupt supply chains.” Although there has been some recovery since May, the situation remains unpredictable. The second and next presumed waves will likely bring even more uncertainty.

Romania: A positive look over M&A in 2020

M&A practitioners, fund managers and CEOs are living a 2020 that is rich in experiences. Of course, we all hoped this to be the best year since the 2008 crisis.