TAB Looking for a Buyer Again

According to the Finance newspaper, Nova Ljubljanska Banka is checking for interest for the successful Slovenian battery manufacturer Tovarna Akumulatorskih Baterij (TAB) again. It is not known to what which potential buyers the prospectus has been sent.

Volkswagen AG to Open a New Automobile Factory in Eastern Europe

Volkswagen AG is planning to open a new automobile factory in Eastern Europe and Bulgaria is a potential destination. Possible locations for a Volkswagen factory in Bulgaria are Sofia and Plovdiv. The new factory shall produce cars from different brands under the Volkswagen group, including Volkswagen, Audi, Skoda, SEAT and others. Initially, Skoda Karoq and SEAT Ateca will be produced by moving their current production from Skoda's factory in Kvasiny, Czech Republic. It is expected Volkswagen to decide in which country to build the new factory at the beginning of May. Sources say that the direct capital investment will be over EUR 1.4 billion and will include the opening of initially, 5,000 work places, plus hundreds of engineers, followed by thousands of work places as suppliers and service industries.

Invitation to Tender for the Purchase of Claims Held Against the Fori Group

With the transfer of assets in 2014 from Slovenian banks, the Slovenian Bank Assets Management Company (BAMC) became a creditor of the companies TT Okroglica d.d., Fori d.o.o., Fori Skupina d.o.o., Elvel d.o.o., Emo-Tech d.o.o. (the “Fori Group”). At this point, BAMC is considering disposing of its collateralized loan exposure in the companies in the total amount of EUR 18,1 million. The deadline for submission of indicative offers is 23 April 2019 and the deadline for submission of binding offers 26 June 2019.

Valvoline to Acquire FAM’s Production Plant and Related IP Rights

BDK Advokati represented Ellis Enterprises d.o.o. a subsidiary of Valvoline (NYSE: VVV), in the acquisition of the production facility and IP rights from Serbian lubricant producer FAM for a purchase price of EUR 9.5 million. As a result of this acquisition, Valvoline will add to its portfolio FAM’s products which are well-known in the Balkan region.

KALO & ASSOCIATES Assisted YURA Corporation

LO & ASSOCIATES team, led by partner Jola Gjuzi, assisted the South Korean global supplier, YURA Corporation. YURA Corporation was granted the status "strategic investor" by the Albanian Government following a thorough examination of the project by AIDA. Yura will be producing electric, electronic and ignition components for the automotive industry and will employ a great number of Albanian citizens.

TAB Looking for a New Buyer

A successful Slovenian battery manufacturer Tovarna Akumulatorskih Baterij (TAB) has recently been in serious negotiations regarding the sale of the company to the South African company Metair Investments. In August it was reported that the Metair’s EUR 300 million bid has been dropped because of the depreciating rand. Unofficially, the owners of TAB will be looking for a new buyer. TAB is producing a wide range of lead acid flooded, VRLA AGM and VRLA Gel batteries in three modern factories with approximately 1,300 employees. They have after-market automotive battery manufacturing facilities…

Polenak Law Firm Advised Key Safety Systems

SEE Legal's Macedonian member, Polenak Law Firm, acted as a local legal counsel for Key Safety Systems in connection with the Deutsche Bank financing of KSS Holdings Inc acquisition of certain assets and businesses of the Takata Corporation, which comprises a USD 1 billion term loan facility together with a USD 200 million revolving credit facility. Skadden, Arps, Slate, Meagher & Flom (UK) LLP acts as a lead counsel to KSS on the acquisition and the Deutsche Bank financing. Polenak Law Firm’s attorneys work closely with Skadden in relation to review of the financing agreements, as well…

KALO & ASSOCIATES Advised a Group of Car Manufacturers on Development of Inter-city Charging Infrastructure

KALO & ASSOCIATES acted as Albanian legal counsel to handle the Albanian aspects of the creation of a full-function joint venture company between Bayerische Motoren Werke Aktiengesellschaft (“BMW”), Daimler AG, Ford Motor Company and Dr. Ing. h.c. F. Porsche Aktiengesellschaft (on behalf of Volkswagen Group) to develop, establish and operate a high-power, multi-OEM-owned-and-controlled, inter-city charging infrastructure for battery electric vehicles in Europe that will develop into a profit-making, self-sustaining business.