NNDKP Advises Purolite in Relation to its Acquisition by Ecolab
December 2021
NNDKP has assisted Purolite Corporation and Purolite SRL in relation to the acquisition of the companies by Ecolab, as part of a broader, global acquisition process.
The transaction is valued at approximately US$ 3.7 billion, placing it amongst the largest transactions of its kind closed this year, both at the global and national levels.
NNDKP has provided assistance in all stages of the transaction and with other relevant aspects regarding the acquisition process, through the involvement of a multidisciplinary team of professionals, comprised of experts from the firm’s Corporate/M&A,…
Controversial Amendments to the Serbian Expropriation Act
November 2021
Author: Dragoljub Cibulic
On 26 November 2021, the National Assembly enacted the amendments to the Expropriation Act (“Amendments“), legislation that originates from 1995 and has not been significantly updated since 2009.
A number of public intellectuals, NGOs, and opposition parties have loudly criticised the Amendments. We outline below the most important changes.
The notion of public interest
By far the most controversial provision of the Amendments is the expansion of the notion of public interest. According to the Serbian Constitution, private property may be expropriated…
Sale of Industrial Park Belgrade
September 2021
Sale of 51-100% of equity in one of the largest industrial parks in the SEE region with a total of five existing facilities, and two in a pre-construction phase, located in the industrial zone near Belgrade.
Uncertain Issues On Residence And Workplace Leases
Authors: Busra Ozden, Merve Tuzmen
In this first part of a series of articles on disputed lease provisions of the Turkish Code of Obligations (the “TCO”) with respect to residences and roofed workplaces, we address whether the parties are free to determine the rental fee after the end of each five-year period.
The TCO allows the parties to determine the rent increase rate in residence and roofed workplace leases subject to limitations. Article 344 of the TCO explicitly sets forth the annual rent increase rules that apply within each five-year period, both for the Turkish lira and for foreign…
National Cadastre: Commencement of submission of real property statements for Rethymno (Crete) and Cyclades
Authors: Kimon Tsakiris, Katerina Politi
In relation to the progress and completion of the project of the National Cadastre, on Wednesday, June 30, 2021, commenced the collection of ownership statements for the areas of Rethymnon. The deadline for submitting declarations for the area of Rethymnon ends on 30.09.2021 for the residents of Greece and on 30.12.2021 for those permanently residing abroad and the Greek State.
Also, on Monday, July 5, 2021, the collection of property declarations for the area of the Cyclades islands began. The deadline for submitting declarations for the Cyclades ends…
Lease of Office Buildings and Business Premises in the Future
On 19 June 2021, the Act amending the Housing Act (Zakon o spremembah in dopolnitvah Stanovanjskega zakona; SZ-1E) entered into force.
Polenak Law Firm Advised on the Largest Privately Owned Local Investment in Renewable Energy in North Macedonia
Polenak Law Firm advised Thor Impex DOOEL Skopje and its owners in the largest privately owned local investment in renewable energy in North Macedonia, a 36MW wind farm Bogoslovec.
Indotek Group to Acquire GTC’s Serbian Office Portfolio
Hungarian real estate investor Indotek Group has signed a sale and purchase agreement for the purchase of 11 office buildings from Globe Trade Centre (GTC) for the proposed acquisition price of EUR 267,6 million. The GTC office portfolio is located in New Belgrade, a prime business district in Belgrade, and consists of 11 premium quality office buildings within five business parks – Green Heart, FortyOne, Belgrade Business Center, 19 Avenue and GTC House, with a total of 122,175 square metres GLA.
Indotek Group is a Hungarian property investment, utilization and development company. Its portfolio…
NNDKP Assists Globalworth in Expanding its Industrial Activity in Arad and Oradea
NNDKP provided legal assistance to Globalworth in relation to the acquisition of two industrial projects, IPW Arad and IPW Oradea.
How to Choose the Right FIDIC Contract
The standard contracts constituted by FIDIC based on the organisation’s years of experience are frequently used in international projects, as they bring uniformity to technical, operational and legal matters.
The Great Istanbul Tunnel Project
May 2021
In 2019, the Istanbul Metropolitan Municipality has approved the plan for the Great Istanbul Tunnel Project, a three-level sub-sea tunnel that will connect the two continents with one railway and two highways.
The tunnel project will also result in numerous intersections with motorways and metro lines. The tender of the project involved a build-own-operate model and an estimated project cost around USD 4 billion. Yüksel Proje A.Ş, one of the biggest construction companies in Turkey, won the tender and undertook the project’s construction. The project is currently under construction…
Romexpo Project
Romexpo, one of the largest exhibition centres in Romania, covering a total area of 300,000 meters, located in North Bucharest, may be developed in the largest real estate project in Romania.
