White & Case wins “CEE Deal of the Year” and four other “Deal of the Year” awards at 2024 CEE Legal Matters Awards

Global law firm White & Case LLP has won "CEE Deal of the Year" and four country-specific "Deal of the Year" awards at this year's CEE Legal Matters Deal of the Year Awards.

The Firm worked on the following transactions, which won "Deal of the Year" in their respective jurisdictions:

• Albania: AYEN AS Energji's €110 million syndicated loan

  White & Case advised on a €110 million syndicated loan for Ayen AS Energji in cooperation with GKC Partners. The proceeds were used to refinance three hydropower plants. The project plays a crucial role in strengthening Albania's energy infrastructure, supports the country's transition to renewable energy and represents a key milestone for the local energy sector and its long-term development.

• Bulgaria: e&'s acquisition of PPF Telecom Group's Bulgarian, Hungarian, Serbian and Slovakian assets

  White & Case advised PPF Telecom Group on the sale of its assets to Emirates Telecommunications Group Company (e&) (Project Sunshine). The transaction, valued at up to €2.5 billion, involved the sale of 50% plus one share in PPF Telecom Group to e&. The deal covered telecom assets in Bulgaria, Hungary, Serbia and Slovakia. The Firm played a key role in the structuring and execution of the cross-border deal. The Prague finance team led the complex financing arrangements related to the divestment.

  It is one of the most significant telecom deals of 2024 and was also among the first cases notified under the Foreign Subsidies Regulation (FSR). The European Commission launched its first-ever Phase 2 proceedings in this matter. The Firm represented PPF Telecom Group B.V. in the FSR proceedings and worked closely with the Commission's case team and e&'s counsel on setting the standards for FSR proceedings. This represents a significant case in the evolving FSR landscape.

  This transaction was also awarded CEE Deal of the Year.

• Greece: Athens International Airport IPO and listing

  White & Case advised the Hellenic Republic Asset Development Fund (HRADF) on the initial public offering (IPO) and listing of Athens International Airport on the Athens Stock Exchange. It is one of the largest IPOs in the exchange's history, and the deal marked a major milestone in Greece's infrastructure and capital markets.

• Serbia: Acquisition of a large portfolio of mobile tower base stations from Telekom Srbija

  White & Case advised the buyer, a consortium led by investment firm Actis, on the acquisition of a large portfolio of mobile tower base stations from Telekom Srbija (Project Luna). The Firm played a key role in the legal and financial structuring of the entire transaction.

"These awards are a testament to the exceptional work we are delivering across the entire Central and Southeastern European region. We are particularly proud of the role our Prague office played in the Sunshine and Luna projects. I would like to thank all our colleagues who contributed to these transactions and, of course, our clients for placing their trust in us," said Petr Pánek, partner and Head of the Firm's Southeastern Europe Country Practice.

"Project Sunshine stands out not only for its scale and strategic impact but also for the complexity of the financing involved," said partner Jonathan Weinberg. "We're proud to have led the structuring of the finance aspects from Prague, working seamlessly across jurisdictions to support PPF Group in delivering this landmark transaction."