Sale of Prutul Galati

January 2022 Marian Andreev, a Romanian entrepreneur and the owner of Prutul Galati, a major Romanian manufacturer of vegetable oil, is planning to sell the company. In 2020, Prutul Galati had a turnover of EUR 131 million and a profit of EUR 3.2 million.

Water Bottling Company Costella for Sale

January 2022 The Swiss company Agrokor, which is in liquidation, is selling the Costella natural mineral water bottling company along with its water bottling plant near the town of Kostel in southern Slovenia. The company’s most asset is the concession for water extraction of 250 million liters of water per year from the primeval forest. The concession is valid until 2035 and can be extended. For the company to be able to extract so much water, additional investment in production would be required. The company currently employs only eight employees and extracts 12 million liters a year. In…

DoorDash Announced its Acquisition of Wolt

DoorDash, Inc. (NYSE: DASH) has reached a deal to acquire Finnish food-delivery company Wolt Enterprises OY in an all-stock transaction valued at approximately EUR 7 billion. Helsinki-based Wolt operates in over 180 cities across 23 European countries, including Serbia. It has over 45 000 merchant partners, 90 000 courier partners, and 12 million registered customers (June 2021 figures). DoorDash, Inc. is an online food ordering and food delivery platform, based in San Francisco, United States. According to the annual report as of 31 December 2020, the platform served 450,000 merchants, 20 million…

ADM to acquire Sojaprotein

The Archer-Daniels-Midland Company (NYSE: ADM), an American multinational food processing and commodities trading corporation, has signed a sale and purchase agreement to acquire Sojaprotein, one of the leading soybean processing companies in Europe and leading European provider of non-GMO soy ingredients. Sojaprotein is part of Victoria Group which has been recently acquired by MK Group through debt to equity swap. It has sales into 65 countries, offering a wide array of non-GMO vegetable protein ingredients for an extensive list of European and global customers in the meat alternative, confectionery,…

Possible Sale of Adriafin, Owner of Vinakoper

A compulsory settlement of Istrabenz Holding Company at the request of the Slovenian Bank Assets Management Company (BAMC) was approved last year. In this procedure, EUR 65 million of the company's total debt of EUR 75 million was turned into equity. Some of Istrabenz's smaller assets have been taken over by BAMC, while the remaining assets of the holding are expected to be sold gradually, and the holding then sent into liquidation or bankruptcy. The holding's investments include a half-share in Adriafin, which owns a 78% share in the Slovenian wine producer Vinakoper (the other large owner is…

BOYANOV & Co. Advised Mondelez International on the Acquisition of Chipita S.A.

BOYANOV & Co. advised Mondelez International on all Bulgarian law aspects in the acquisition of the Greek snacking company Chipita S.A.

NNDKP Assists AAylex Group in Securing a EUR 20 Million Financing for the Group’s Expansion in Romania and in the Acquisition of Banvit Foods Romani...

Nestor Nestor Diculescu Kingston Petersen (NNDKP) successfully assisted AAylex Group, one of the leading Romanian players in the food industry, controlled by entrepreneur Bogdan Stanca as majority shareholder, in securing the funds necessary for the Group’s expansion in Romania through the acquisition of Banvit Foods Romania. The AAylex Group, having former enterprise Avicola Buzau as its starting point, covers various operations ranging from genetics, feed production, breeding, incubation, broiler chicken farming to slaughtering and the distribution of processed chicken meat and value-added…

SEE Legal Group Advises on Nomad Foods' Acquisition of Fortenova Group’s Frozen Food Portfolio

Nomad Foods Limited has entered into an agreement to acquire Fortenova Group’s Frozen Food Business Group for an aggregate consideration of approximately EUR 615 million on a debt-free, cash-free basis.

Competition Law Developments in Turkey in 2020

The year 2020 brought along significant developments in the field of competition law, both in Turkey and worldwide.

The Sale of Chips Way

Chips Way is a well known snack producer in Serbia and one of the oldest snack brands in Serbia famous for its Chips and Gricko brands.

Sale of Frikom and Ledo

Fortenova Group, as the legal successor of former regional giant Agrokor, plans to sell its ice cream business in the region. This includes the sale of Frikom company operating in Serbia and North Macedonia, and Ledo company operating in Croatia with its subsidiaries in Slovenia, Hungary, Bosnia and Herzegovina, Montenegro and Kosovo.

The Sale of Sojaprotein

Sojaprotein is one of the leading soybean processing companies in Europe. Sojaprotein is part of Victoria Group which has been recently acquired by MK Group through debt to equity swap. Following the disposal of laboratory testing, bio-pharma and edible oil business, MK Group is planning to sell Sojaprotein unit from its portfolio.