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under Part 26 of the Companies Act 2006, followed by the refinancing of the restructured debt from the proceeds from the issuance of high-yield notes and a bridge to equity senior financing closed simultaneously with the issuance of the notes. This is the first arrangement scheme implemented in the CEE region. The deal was by far the largest and most complex cross-border financial restructuring ever arranged in the CEE region. The deal also involved the first-ever enforcement of financial collateral in Bulgaria. In addition to advising CEZ on numerous domestic legal matters, White & Case is providing a wide range of legal services to CEZ in relation to their Bulgarian operations which primarily including advice related to the development of an 4,4 MW biomass project. Our advice included drafting of and negotiation of an EPC contract for the construction of the biomass project; assisting with the tender for selection of an EPC contractor in connection with refurbishment of the three units of the 1260 MW power plant in Varna; and Energy regulatory advice on the interpretation and implementation of EU law. A White & Case M&A, real estate, restructuring and disputes team advises Prologis, the leading global owner, operator and developer of industrial real estate, on its projects in the Czech Republic. This included the acquisition of an industrial/ warehouse portfolio in the Czech Republic, Slovakia and Poland, from funds managed by Heitmann, a global real estate investment management firm. Additionally the team represents ProLogis in a number of inter-related real estate disputes. Our work has included representing this global giant, successfully defending the entity before the Superior Court in relation to the ownership title of a large industrial site designed for the construction of a logistics park whereby the land was claimed by the insolvency trustee of a bankrupt company. White & Case’s M&A, tax, competition and financing teams continue to represented two investment funds managed by ARX Equity Partners on their legal matters including advising on the sale of their entire shareholdings in Lexum Group, a major healthcare provider of eye surgery and ophthalmology in the Czech Republic and Poland, to
the Optegra Group, a specialist provider of ophthalmic services in the UK and selected global markets. The transaction was based on an acceleration of the staged acquisition of Lexum Group signed between the sellers and Optegra Group in December 2012. The transaction required the deep involvement of our tax team in connection with complex tax structuring of the deal itself from the seller‘s perspective, involving Czech as well as Luxembourg tax issues. The team also helped with the review and negotiation of other important tax aspects of the transaction for the sellers.
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