Firm Profile > Dentons > Budapest, Hungary
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Dentons > The Legal 500 Rankings
Dentons' credentials as a market-leader are reflected by its work for lenders, underwriters, arrangers and borrowers. The group undertakes a wide range of lending transactions, refinancings, restructurings and insolvency-related matters. In addition, regulatory work is another mainstay of the practice. Also notable is that the team is prominent in the growing solar power development sector. Department head Gergely Horváth has extensive experience of real estate acquisition finance, trade and energy project finance. Counsel Gábor Király and senior associate Gabriella Pataki are also key figures.
Other key lawyers:
Gábor Király; Gabriella Pataki
Diákhitel Központ (Student Loan Center)
Invitel Group (Invitech)
Dentons' sizeable team is comprised of Hungarian, UK, US and Canadian-qualified lawyers. It acts for a wide range of domestic corporates, emerging regional corporates, financial institutions and private equity firms. The group's varied workload includes CEE/SEE-wide M&A and private equity transactions, as well as disposals and privatisation mandates. Rob Irving and Anita Horváth, who jointly lead the team, have extensive experience leading high-value domestic and regional transactions. Annamária Csenterics and associate Réka Szalóky are also highly active. Edward Keller left the practice in May 2020.
Rob Irving; Anita Horváth
Other key lawyers:
Réka Szalóky; Annamária Csenterics
‘Ability to take charge of a transaction. Highly commercial and understanding of business needs. Strong technical ability. Responsive’
Arx Equity Partners
R2G/PFNonwovens (panel appointment in 2019)
Hungary > Competition Tier 1
Dentons' strong contentious and non-contentious practice is often involved in cross-border leniency applications, merger filings and the preparation of complaints involving Hungarian and EU competition law issues. Cartel investigations, compliance and dawn raids are other key areas of expertise. The team recently represented Nestlé in proceedings initiated by the National Institute of Pharmacy and Nutrition over promotional activities concerning infant nutrition products and foods for special medical purposes marketed by Nestlé. Tihamér Tóth and Tünde Gönczöl jointly lead the practice, which includes state aid specialist István Réczicza and senior associate Áron Károlyi-Szabó.
Tihamér Tóth; Tünde Gönczöl
Other key lawyers:
Áron Károlyi-Szabó; István Réczicza
Dante International SA
Dentons has a well-established reputation globally for energy-related M&A, project finance and infrastructure transactions. It is noted for its depth in electric transmission and distribution, oil and gas, water management, nuclear energy and mining. Emőke Kovács specialises in electricity and gas trading, as well as energy, gas and heat distribution. Banking partner Gergely Horváth has expertise in project financing of PPP projects. Anita Horváth focuses on corporate transactions and private equity, while István Réczicza is an expert in energy regulations.
Gergely Horváth; Anita Horváth
Other key lawyers:
Emőke Kovács; István Réczicza
‘Deep understanding of the regulatory framework and its implications in terms of project development, bankability and project roll-out. Provides an integrated approach to project development, from energy, real estate, tax, commercial law, etc perspectives, which enables clients to get a full and detailed perspective of the project’s risks and qualities. A focus on client’s particular needs and objectives. A dedicated and quick to respond team, which is able to work in different avenues simultaneously under time pressure.’
‘From our experience, a truly tailor-made approach from a vast team of experienced individuals’
CIB Bank (Intesa Group)
Hungarian Export-Import Bank (Eximbank)
K&H Bank (KBC Group)
Dentons is well known for its strengths in handling asset and share transactions, complex financings and a wide range of development and leasing arrangements, particularly those relating to commercial buildings, shopping centers, hotels and logistics centres. The firm also advises on zoning and planning regulations, environmental issues and tax-efficient structuring of investment vehicles. Department head Judit Kővári acts for real estate investors, private equity firms and developers. Also notable is that she is head of the Commercial Property Session of the Budapest Bar Association’s Real Estate Group. Marcell Szőnyi and associate Rita Várnagy are also recommended.
Other key lawyers:
Marcell Szőnyi; Rita Várnagy
Optima Investments Limited
SkyGreen Buildings Kft.
Globe Trade Centre S.A. (GTC)
Starwood Capital Group
AEW Europe S.A.
Dentons handles data protection matters in a range of sectors, spanning consumer goods, telecoms and pharmaceuticals to public entities and non-profit organisations. Key areas of activity include e-commerce, data access agreements, the development, maintenance and protection of database assets and portfolio management. István Réczicza and Tímea Bana are highlighted for their expertise in GDPR compliance.
Hungary > Dispute resolution Tier 2
Dentons' team is praised for its 'second to none' professionalism and 'well communicated and spotless business sense'. István Réczicza leads the group, which demonstrates expertise in international arbitration, particularly claims under the Energy Charter Treaty and in relation to bilateral investment treaties. The practice also coordinates high-stakes cross-border commercial litigation and represents corporates in unfair competition and contractual claims. In addition, it acts as counsel before employment tribunals. Réczicza, who is an experienced arbitrator, works with counsel Lilla Király in civil disputes.
Other key lawyers:
‘Dentons is one of the best firms of its kind, because their international background keeps them open-minded and grounded at the same time. The best service they could provide me was their responsiveness, as it was not only short but also precise at all the times when I needed them. They are innovative but clear and they always kept me in the loop with details which helped me make decisions. As for professionalism, theirs is second to none; their business sense was spotless and well communicated.’
Engie / GDF Suez
Budapest Airport Zrt.
Cinema City International
Hungary > TMT Tier 2
Dentons' Budapest office fields a team of 'top legal and regulatory experts' capable of acting on big-ticket TMT M&A and private equity deals, providing regulatory advice in the telecoms and media sectors, and assisting with licensing and broadcasting issues. István Réczicza is a leading expert in relation to data privacy, telecoms regulations and unfair competition matters. Counsel Tímea Bana is also noted.
Other key lawyers:
‘High-end team with great practice in intellectual property. ’
‘Top legal and regulatory experts with excellent professional relationships and valuable network.’
Dentons' 'high-end team' has a solid reputation for soft IP, particularly in relation to trade marks and copyright. On the transactional side, the team utilises its global network to handle cross-border licensing and IP transfers mandates, as well as coordinating IP litigation and GDPR-related matters. Practice head István Réczicza is assisted by counsel Tímea Bana on industrial property law, and he is also experienced in drafting film license agreements as well as software development contracts.
Other key lawyers:
‘High-end team with great practice in intellectual property. ’
‘Top legal and regulatory experts with excellent professional relationships and valuable network.’
Dentons > Firm Profile
Dentons is the world’s largest law firm, connecting talent to the world’s challenges and opportunities in more than 75 countries. Dentons’ legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons’ polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic.
With 195+ offices in over 75 countries, Dentons’ global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size.
Dentons in Hungary: Among the leading law firms in Hungary, Dentons has deep roots in the Hungarian business community. Our Budapest office offers dynamic, sophisticated legal services, partnering with clients to advance their interests in Hungary and across CEE/SEE. Many of the world’s largest corporations, preeminent investment banks and sovereign governments rely on Dentons to provide advice on business opportunities and to resolve complex challenges in Hungary and across the region.
Our Budapest office boasts more than 50 Hungarian, UK, US and Canadian qualified lawyers, and it is one of the largest international law firms in Hungary. We are a significant part of an integrated Dentons global team of legal professionals spanning 75-plus countries. With our extensive experience in Hungary and CEE/SEE, combined with access to our strong global network of offices, we bring local depth and global breadth to your most exciting opportunities and challenging disputes.
Advisory services: Budapest is also home to Impact Advisory, a joint venture with Dentons Europe offering consulting services that complement Dentons’ legal services. Impact Advisory was started by former Big 4 leaders and consultants, who seek to deliver content-driven vision and advice to our clients.
|Banking & Finance and Restructuring, Insolvency and Bankruptcy||Gergely Horváthemail@example.com||+36 1 488 5200|
|Competition & Antitrust||Tihamér Tóthfirstname.lastname@example.org||+36 1 488 5200|
|Competition & Antitrust||Tünde Gönczölemail@example.com||+36 1 488 5200|
|Energy, Corporate/M&A, Private Equity and Employment||Anita Horváthfirstname.lastname@example.org||+36 1 488 5200|
|Dispute Resolution, Energy, TMT, IP and Life Sciences||István Récziczaemail@example.com||+36 1 488 5200|
|Corporate/M&A and Private Equity||Rob Irvingfirstname.lastname@example.org||+36 1 488 5200|
|Corporate/M&A and Private Equity||Annamária Csentericsemail@example.com||+36 1 488 5200|
|Real estate||Judit Kővárifirstname.lastname@example.org||+36 1 488 5200|
|Real estate||Marcell Szőnyiemail@example.com||+36 1 488 5200|
|Public Policy & Regulation||Balázs Csudayfirstname.lastname@example.org||+36 1 488 5200|
|Energy||Eszter Zádoriemail@example.com||+36 1 488 5200|
|Bence Böszörményi||Bence Böszörményi is an associate in the Banking and Finance practice group…||View Profile|
|Tímea Bana||Tímea Bana is a counsel in Dentons’ Budapest office and member of…||View Profile|
|Mr Theodore S. Boone||Theodore S. Boone is Of Counsel in Dentons’ Budapest office. Ted is…||View Profile|
|János Csáki||János Csáki is an associate and a member of the Corporate, Mergers…||View Profile|
|Annamária Csenterics||Annamária Csenterics is a partner in Dentons’ global Corporate, M&A and Private…||View Profile|
|Balázs Csuday||Balázs Csuday is a partner at Dentons’ Budapest office and a member…||View Profile|
|Mihály Czesznak||Mihály Czesznak is an associate and a member of the Dispute Resolution…||View Profile|
|Ms Henriett Fekete||Henriett Fekete is an associate and a member of the Energy practice…||View Profile|
|Mr László Fenyvesi||László Fenyvesi is an associate and member of the Dispute Resolution and…||View Profile|
|Tünde Gönczöl||Tünde Gönczöl is a counsel and co-head of Dentons Budapest office’s Competition…||View Profile|
|Anna Gerendás||Anna Gerendás is an associate in Dentons’ Budapest office. She focuses on…||View Profile|
|Anita Horváth||Anita Horváth is Co-head of Dentons’ European and Head of the Hungarian…||View Profile|
|Gergely Horváth||Gergely Horváth is a partner and head of the Banking and Finance…||View Profile|
|Mr Rob Irving||Rob Irving is an experienced M&A and private equity partner and co-chair…||View Profile|
|Nóra Jakab||Nóra Jakab is an associate in the Mergers and Acquisitions (M&A) and…||View Profile|
|Judit Kővári||Judit Kővári is a partner and head of the Real Estate practice…||View Profile|
|Áron Károlyi-Szabó||Áron Károlyi-Szabó is an associate of the EU, Competition and Antitrust, Technology,…||View Profile|
|Mr Tibor Kancsár||Tibor Kancsár is a senior associate in Dentons’ Budapest office and a…||View Profile|
|Gábor Király||Gábor Király is a counsel in the Banking and Finance practice group…||View Profile|
|Lilla Király||Lilla Király is of counsel and member of the Dispute Resolution practice…||View Profile|
|Emőke Kovács||Emőke Kovács is an energy lawyer whose practice focuses on advising electricity…||View Profile|
|Zsófia Lascsik||Zsófia Lascsik is an associate in the Real Estate practice group of…||View Profile|
|Ms Gabriella Pataki||Gabriella Pataki is an associate in the Banking and Finance practice group…||View Profile|
|Ms Eszter Patyi||Eszter Patyi is an associate and a member of the Real Estate…||View Profile|
|András Peisch||András Peisch is an associate in Dentons’ Budapest office and a member…||View Profile|
|Mr Kamran Pirani||Kamran Pirani is a dual, English and Canadian qualified associate in Dentons’…||View Profile|
|István Réczicza||István Réczicza is a partner in Dentons’ global Litigation and Dispute Resolution…||View Profile|
|Marcell Szőnyi||Marcell Szőnyi is a partner in Dentons’ Budapest office. He focuses primarily…||View Profile|
|Réka Szalóky||Réka Szalóky is an associate in the Corporate, Mergers and Acquisitions and…||View Profile|
|Tihamér Tóth||Tihamér Tóth co-heads the Competition and Antitrust practice group in Dentons’ Budapest…||View Profile|
|Rita Várnagy||Rita Várnagy is an associate in the Real Estate practice group of…||View Profile|
|Eszter Zádori||Eszter Zádori is a partner in Dentons’ Budapest office and a member…||View Profile|
Staff FiguresNumber of lawyers : 12,000+ At this office : 50+
Languages70+ languages including: Arabic Afrikaans Azerbaijani Bulgarian Czech Dutch English French Georgian German Hungarian Italian Kazakh Mandarin Polish Romanian Russian Slovak Spanish Turkish Ukrainian Uzbek
OtherOther offices : Dentons now has 195+ offices in over 75 countries.
At Dentons, we believe that inclusion and diversity are essential to the success and strength of our Firm and the quality of our advice to, and representation of, our clients. We are committed to providing a flexible environment where everyone respects, supports and learns from our collective skills, talents and differences. Click here for our global statement on inclusion and diversity.
Over the last 12 months only, we have advanced numerous inclusion and diversity initiatives for both our people and our clients:
- Women’s Professional Advancement Strategy – Europe: Our policy sets out a comprehensive strategy to reach a target of 30% women in partnership and key leadership roles by 2025. This includes an agile working policy, mentoring and sponsorship for up and coming female talent, business development support, anti-bias training for partners and HR managers, participation of women in leadership development programs, involvement of a member of the women’s advancement committee in partner admission interviews, and various other steps.
- 2020 the Year of the Ally: A year-long campaign to use allyship to produce positive, sustained change, including International Women’s Day, Global Pride Day, Global Virtual Town Halls and Global Allyship Trainings. Our Global CEO led a series of global listening sessions to share experiences and co-create responsive actions. The result was five enhanced Global Commitments to Inclusion and Diversity along with clear actions to support change. We also held town hall webinars around themes such as discrimination, racism, allyship, multiculturalism, LGBT+ inclusion in Amsterdam, Frankfurt and Warsaw.
- External collaboration: We have strengthened our collaboration with key organizations promoting inclusion, such as Stonewall, Catalyst, Global Women Connect, International Women’s Forum. Dentons was named a Stonewall Top Global Employer 2020.
- Pro bono: As part of our Positive Impact strategy, key focus of our pro bono work has been supporting human rights of diverse groups such as women/girls, LGBT+ and migrants and promoting access to justice. We work closely with organizations such as UN Women and Led by Her to promote equality, support reproductive rights and combat violence against women. Dentons lawyers have worked alongside civil society organizations and taken on important strategic litigation cases to promote LGBT+ rights and promote marriage equality. As part of the Greece Pro Bono Collaborative Project, we have provided direct legal support to asylum seekers on Lesbos.
- Big Inclusion Project: The Big Inclusion Project was designed to accelerate the inclusion agenda at Dentons and leverage the power of our people to build solutions aligned with our business objectives. Over 225 people across 68 offices at all levels within the Firm, including 12 of our Global Board members, participated on 22 teams to come up with inclusion and diversity solutions at Dentons. The Big Inclusion Project continues as we work to put into action the solutions developed by our Big Inclusion Project teams.
Press Releases18th August 2020
Global law firm Dentons is pleased to announce that the Paris Court of Appeal, the Higher Regional Court of Karlsruhe and the Barcelona Provincial Court have all issued final decisions dismissing Essity’s claims of patent infringement in regards to Industrie Cartarie Tronchetti’s (ICT) three ply toilet paper. With Dentons’ counsel, ICT successfully demonstrated beyond a doubt that its branded and private label products are produced based on its own proprietary process, and patented under European patent 2 353 859.
Dentons has been advising Industrie Cartarie Tronchetti S.p.A since 2016. Based in Lucca, ICT is a leader in the category of high quality tissue paper products for domestic use, and has subsidiaries in Italy, Spain, Germany, France and Poland.
The Paris decision, which is the most recent, ends a long-running patent infringement litigation with Essity and affirms ICT can continue to produce and distribute absorbent paper based on its own proprietary technology. The three courts in France, Germany, and Spain have confirmed ICT’s argument that it is using its own novel technology, also patented. Essity’s claims of infringement were based on a patent originally filed by Georgia Pacific, and subsequently becoming Essity’s.
Dentons partner David Masson served as lead partner and represented ICT in France. Dentons partner Dr. Constantin Rehaag represented ICT in Germany, and PwC partner Alejandra Matas Brancós represented the client in Spain, with the support of Dentons partner Juan Ignacio Alonso.
David Masson, lead lawyer on the case, commented: “It has been very interesting to understand ICT’s own technology and work closely with different teams, including ICT’s R&D department, which has been part of all strategic and technical decisions throughout the case”.
Constantin Rehaag, who represented the client in the German court hearings and coordinated the work with the client’s patent attorneys, said: “This is an outstanding success of a great team formed by the client, who provided us with invaluable technological insight, the team of patent attorneys and, finally, by the Dentons teams in France, Spain and Germany.”
The patent litigation began in 2016 when Essity sued ICT in France, Germany and Spain for the alleged infringement of its patent related to the technical solution for the bonding of three layers of tissue for paper products such as high quality, soft and bulky, toilet paper.
In France, Essity claimed that ICT had breached the French part of its European patent 1 081 284 and that the toilet paper marketed as Foxy Soie Plus, and also certain other private labels produced by ICT France, had infringed on their patent. Essity demanded that all production operations be halted. The rolls of toilet paper were carefully analyzed and there were no findings of infringement. The two French courts - in first instance and appeal - rejected the claims and ordered Essity to pay compensation for the legal fees to ICT Italy and ICT France.
In Germany, the case was first taken to the Mannheim District Court, which is well reputed in patent matters. The lawsuit mainly focused on the complex questions regarding the construing of the claims of Essity’s patent. The court ruled in favour of ICT, and Essity filed an appeal. In August 2019, the Higher Regional Court of Karlsruhe also ruled that the German subsidiary of ICT did not infringe the German part of the patent 1 081 284.
In Spain, after a first decision in favor of Essity in the lower court, the Barcelona Provincial Court clearly stated in a written appeal that ICT’s products - and in particular, Foxy Seda, Foxy Bouquet, certain three-ply private label products - did not infringe the Spanish part of the patent 1 081 284.About ICT
Industrie Cartarie Tronchetti (ICT) was founded in 1976 in Italy, in the Lucca province, to operate in the tissue sector, producing high quality paper exclusively from virgin fibre. The first production facility was opened in 1978 in Piano della Rocca, Lucca, and over the years new plants and facilities have been set up in Piano della Rocca, Diecimo and Piano di Coreglia. The Foxy brand, one of the leading brands in the European market, was launched in 1982. ICT is an example of excellence in the paper industry, in full harmony with the tradition of the Lucca region, where the most important Italian papermaking hub is located, on a par with those of Green Bay (USA) and Fuji (Japan). In Lucca in particular, great expertise has been nurtured in the field of paper for household use, and the city is in fact known as the world tissue capital. Today, ICT SpA boasts an annual production capacity of about 160,000 tonnes.About Dentons
Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic.
3rd August 2020 Global law firm Dentons advised Italian-based multinational energy infrastructure operator Snam in relation to its agreement, in consortium with several international investment funds, to purchase a 49 percent share of ADNOC Gas Pipelines from The Abu Dhabi National Oil Company (ADNOC). ADNOC Gas Pipelines is valued at approximately US$20.7 billion (US$10.1 billion for 49%).
The transaction is one of the most important in the global energy infrastructure sector, as well as Snam’s first acquisition outside Europe. ADNOC Gas Pipelines holds the tariff-based rights for the 38 pipelines that connect ADNOC’s upstream activities to Abu Dhabi’s consumption points and the export and interconnection terminals to neighboring Emirates.
The transaction was financed by a pool of international banks for approximately $8 billion, plus an equity contribution from each of the consortium members. In addition to Snam, the other consortium members included Global Infrastructure Partners, Brookfield Asset Management, GIC, Ontario Teachers’ Pension Plan, and NH Investment & Securities.
Dentons acted with a cross-border team from Italy and UAE, coordinated by partner Sara Biglieri in Milan. Partners Luca Pocobelli (Rome) and Mhairi Main Garcia (Dubai), counsel Claudio Segna (Milan), senior associate Craig Hughson (Abu Dhabi) and associate Stephanie Hawes (Dubai) advised on corporate and M&A aspects. Partners Alessandro Fosco Fagotto (Milan) and Stephen Knight (Abu Dhabi), counsel Franco Gialloreti, senior associate Tommaso Zanirato and junior associate Giulia Caselli Maldonado (all Milan) advised on financing aspects. Partner Michele Carpagnano (Rome) and associate Giulia Giordano (Rome) advised on the competition and antitrust aspects.
Snam’s internal legal team was led by General Counsel, Marco Reggiani - assisted by Michela Schizzi, Senior Vice President Regulated Assets Legal Affairs - and included senior legal counsels Rosanna Pallotta and Claudia Jolanda Fanelli. The legal aspects related to the financing were handled, together with Marco Reggiani, by Gloria Bertini, Head of Finance and Capital Market Legal Affairs and Roberta Di Mauro, legal counsel.
3rd August 2020 The EU Malaria Fund was initiated by the kENUP Foundation, a not-for-profit organization promoting research-based innovation with public and societal benefit. The fund is managed by the IBB Group. The target volume of the fund amounts to €280 million, with a first closing of €70 million on June 3, 2020. A Dentons team from Berlin, Frankfurt, Dusseldorf and Munich provided comprehensive advice to IBB Group on the establishment of the EU Malaria Fund. This included the development of the legal and tax conception of the fund, regulatory advice, corporate law support on the setup of the fund, and the negotiation of the financing agreements with the EIB, the Bill & Melinda Gates Foundation and other investors. Berlin-based partner Dirk-Reiner Voss and Frankfurt-based partner Arne Klüwer jointly led the Dentons team, with support from partners Stephan Busch, Matthias Santelmann and senior associates Holger Hölkemeier and Bernd Düsterbeck in Berlin; counsel Verena Etzel and Oda Elmoutaouakil in Frankfurt; partner Axel Schlieter in Dusseldorf, and partner Richard Fagerer in Munich. About Dentons Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com
3rd August 2020 Dentons, the world’s largest law firm, has advised Spanish-based multinational construction group, Actividades de Construcción y Servicios, S.A. (ACS), on the renewal of its €500 million Negotiable European Commercial Paper (NEU-CP) Program. The NEU-CP program is registered with the Central Bank of France, with the involvement of BNP Paribas, BRED Banque Populaire, Crédit Agricole Corporate and Investment Bank, ING Bank N.V. and Natixis, as dealers for the Notes. Headquartered in Madrid, the ACS Group is a worldwide leader in construction and services. It is currently the only non-financial issuer with a NEU-CP Program registered with the Central Bank of France. Dentons’ Capital Markets group in Madrid advised ACS on all aspects of the transaction. Partner Ignacio Corujo led and coordinated the transaction with the support of junior associate Ana Artola. Ignacio Corujo joined Dentons in January this year to establish and lead the Capital Markets group in Spain. In addition to this most recent deal for ACS, he has closed several high-value debt capital markets deals since his move, including most notably, Grupo Cajamar’s €1 billion issuance of mortgage bonds, as well as Sacyr’s renewal of its €500 million EMTN Program. About Dentons Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com
3rd August 2020 Global law firm Dentons has advised UniCredit Bank AG as Mandated Lead Arranger, (Sustainability) Coordinator, Bookrunner, Facility Agent and Security Agent as well as the lenders on a €450 million secured sustainability-linked borrowing base facility agreement with Gunvor Group. Gunvor Group will use the funds to cover the working capital requirements of its Ingolstadt refinery. The innovative financing model is tied to the borrower's achievement of predetermined ESG key performance indicators (Sustainability KPIs) and provides for a sustainability discount or premium in case the company overachieves or underperforms the predefined targets. An independent sustainability auditor will report on the performance of the Sustainability KPIs on an annual basis. The ESG-based scoring of certain key performance indicators provides a unique way for borrowers and lenders to communicate their commitment to sustainability and incentivizes sustainable corporate measures. Participating banks included DZ Bank, KfW IPEX-Bank, Raiffeisen Bank International, Erste Group Bank, Commerzbank, Industrial and Commercial Bank of China, CA Indosuez (Switzerland), Bank of China and First Abu Dhabi Bank. Gunvor Group is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded. With strategic investments in industrial infrastructure – refineries, pipelines, storage and terminals – Gunvor Group further generates sustainable value across the global supply chain for its customers. UniCredit is one of the pioneers in sustainable loans in the German market. Düsseldorf finance partner Dr. Axel Schlieter fully advised the bank on the drafting and negotiation of the loan agreement. The Dentons team further comprised Julia Heitmann (senior associate, Banking and Finance, Düsseldorf) and Eike Hinrich Pradt (associate, Banking and Finance, Frankfurt). Axel Schlieter is a core member of Dentons’ Sustainable Finance group in Europe and is regularly involved around the topics of issuance of green bonds and on sustainable financing. Advisors to UniCredit: Dentons (Düsseldorf): Dr. Axel Schlieter, (lead partner), Julia Heitmann (senior associate, both banking and finance, Düsseldorf), Eike Hinrich Pradt (associate, banking and finance, Frankfurt am Main) UniCredit inhouse lawyers: Carina Engelhardt, Alexander Strigin, Christian Hentrich About Dentons Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com
3rd August 2020 Dentons’ Banking and Finance practice team advised Qair SAS, Qair International and Qair Polska Sp.z o.o. in connection with the refinancing of two wind farms under operation, Rzepin (58 MW) and Linowo (48 MW). The financing institutions are BNP Paribas and EBRD. The two wind farms are part of Qair’s larger portfolio of almost 200 MW of renewable energy sources, which also includes 93 MW of new capacity from three wind farms – Udanin (50 MW), Parzeczew (9 MW) and Września (9 MW) – and 25 MW of solar photovoltaic. The project was supervised by Mateusz Toczyski, Head of the Europe and Co-Head of the Global Banking and Finance practice, and led by Tomasz Zwoliński, counsel, with assistance from lawyers Klaudia Szymańska-Rutkowska, Katarzyna Mazur, Katarzyna Kaptur and Jakub Walawski. Supporting the Warsaw team were counsel Surbhi Malhotra-Trenkel in Munich and partners Jean-Marc Allix and Olivier Genevois, and associates Djésia Meziani, Philippine de Fouchier and Hugo Casasnovas in Paris. Dentons’ London team consisting of partner Matthew Sapte and associate Annreika Ray advised on the hedging documentation. “We are very pleased and honored to have had this opportunity to assist Qair in yet another wind power project the company has undertaken in Poland,” said Mateusz Toczyski. “We would like to congratulate Qair on this financing and to wish every success with further developments and investments in Poland and elsewhere in the world,” added Tomasz Zwoliński. About Dentons Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com
3rd August 2020 Dentons has advised international energy group Sev.en Energy on its strategic acquisition of US-based metallurgical coal producer Blackhawk Mining, LLC. C. The transaction comes on the heels of Sev.en Energy’s acquisition of a 17% ownership interest in Corsa Coal in May 2020, further reinforcing its access to the metallurgical coal mining industry in the US market. Blackhawk Mining is one of the largest metallurgical coal producers in the US. With annual production capacity of seven to eight million tonnes of metallurgical coal among its five underground and open pit mining complexes in West Virginia and Kentucky, Blackhawk Mining is an important supplier of metallurgical coal both locally and internationally. It also owns three thermal coal mine complexes producing three to four million tonnes per annum. In 2019, Blackhawk Mining had $1bn revenues and $120m EBITDA. Commenting on the acquisition, Dentons partner Petr Zákoucký, said: “Having worked for Sev.en Energy for many years, I am inspired by their sustained dynamism, and by this bold strategic move, even during these difficult market conditions. We were delighted to have opportunity to play our role in this success.” Alan Svoboda, Executive Director of Sev.en Energy who leads the Group’s international expansion added: “Once again, the Dentons team exceeded our expectations and delivered the transaction within a tight time frame of less than a month, nailing both the complexity of the deal and challenges created by the current worldwide pandemic. What was really outstanding was the dedication and flexibility that the entire team showed.” Dentons’ cross-border team was composed of partners Petr Zákoucký (Prague, Energy/M&A), Ilan Katz (New York, M&A), Lee Smith (New York, Finance), Christopher Van Bever (Lexington, Mining) and John Rhine (Evansville, Mining) Robert E. Richards (Chicago, Insolvency), Managing Associate Gregory DiBella (New York, M&A) and Associate Barbora Obračajová (Prague, Energy). Alvarez & Marsal advised Sev.en Energy on financial due diligence and Weir on technical due diligence. About Sev.en Energy Sev.en Energy owns significant coal and energy production assets in the Czech Republic, the United Kingdom, Australia and the USA. It is the largest private operator of coalmines and conventional power plants in the Czech Republic, and employs more than 3,500 people. In 2019, Sev.en Energy acquired additional power generation assets from Swiss energy group Alpiq and a 50% stake in the multinational energy company – InterGen N.V., which is one of the leading independent power generators with gas-fired power plants in the UK and coal-fired power plants and coal mines in Australia. When pro-forma aggregated with the financial results of InterGen and Alpiq CZ, Sev.en Energy group combined revenues in 2019 were EUR 1,4 billion and EBITDA of EUR 319 million. About Dentons Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com
3rd August 2020 Global law firm Dentons is assisting Weser-Metall GmbH and Harz-Metall GmbH, both subsidiaries of the French-German Recylex Group, with their restructuring through ‘self-administration’ proceedings. In addition, Dentons restructuring lawyers Andreas Ziegenhagen and Dirk Schoene and their team are advising the German management of the Recylex Group within the scope of its self-administration. As a result of the COVID-19 pandemic and the dramatic decline in metal prices, the German subsidiaries of Recylex have each applied for protective shield proceedings under German insolvency law. The aim of the protective shield is to allow the companies to continue their individual restructuring measures and to return to economic stability after the pandemic - if necessary, in a new shareholder structure. Weser-Metall produces about 100,000 tons of lead per year at its headquarters in Nordenham (Lower Saxony), making it the third largest lead smelter and the second largest lead recycler in Europe. Harz-Metall has its headquarters in Oker in the Harz Mountains and is one of the leading European recycling companies for lead and zinc contaminated waste. The Recylex group has a total of eleven operating units and two administrative sites in France and Germany. In addition to the companies supported by Dentons, two other companies in the group, Norzinco GmbH and PPM Pure Metals GmbH, have also submitted applications for protective shield, whilethree other German subsidiaries requested self-administration under creditor protection. The Group's French companies are not affected. Andreas Ziegenhagen, Head of the Europe and German Restructuring practice, said: "With the filing for protective shield proceedings, we are making use of the most restructuring-friendly court proceedings in the interest of all stakeholders of the companies”. Advisor to Harz Metall / Weser Metall / German management of Recylex: Dentons (Berlin): Andreas Ziegenhagen (Partner, Restructuring, Berlin/Frankfurt), Dirk Schoene (Partner), Dr. Jan Seelinger (Counsel), Dr. Benjamin Kurzberg (Counsel), Judith Schmid (Senior Associate), Dr. Jakob Pickartz (Senior Associate), all Restructuring and Insolvency About Dentons Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com
Qatar: Public Procurement
Published: January 2021
Authors: Zaher Nammour Paul Prescott Joelle Salame
This country-specific Q&A provides an overview to Public Procurement laws and regulations that may occur in Qatar.
United Kingdom: Public Procurement
Published: January 2021
Authors: Catherine Bingham David McGowan Dan Bodle
This country-specific Q&A provides an overview to Public Procurement laws and regulations that may occur in United Kingdom.
Uzbekistan: Public Procurement
Published: January 2021
Authors: Eldor Mannopov Bobur Shamsiev Madina Hamidova Fayoziddin Kamalov
This country-specific Q&A provides an overview to Public Procurement laws and regulations that may occur in Uzbekistan.
Published: February 2021
Authors: Dr. Matthias Eggert Dr. Arne Klüwer
This country-specific Q&A provides an overview to Securitisation laws and regulations that may occur in Germany.
Qatar: Product Liability
Published: March 2021
Authors: Dorina Drowniak Zaher Nammour
This country-specific Q&A provides an overview to Product Liability laws and regulations that may occur in Qatar.