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Whether you are planning a merger as part of your growth strategy, thinking about diversifying into new sectors or looking for new funding options such as non-bank lending or through equity investment, our experts offer you the right mix of legal and commercial advice. Having lawyers who think and act beyond their traditional role and seek to add value can help you secure the competitive edge you need in an ever-changing business environment. Our international team of more than 1,000 corporate lawyers in 42 countries worldwide can assist you in all aspects of corporate law and M&A, both domestically and internationally.

Whatever your size, a large publicly listed company or a small privately owned business, we can deliver a tailored, commercial, cost effective solution for you, covering areas such as M&A, private equity, equity capital markets, outsourcing, group restructuring and privatisations. Our cross-border teams consist of experts from all practice areas and sectors such as banking, consumer products, energy, infrastructure, insurance, lifesciences, real estate and construction, hotels and leisure, technology and media. This allows us to understand your specific issues for a transaction and provide you with advice within context, saving time and money and allows us to pinpoint your real commercial issues and risks in a transaction.

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Published on ceelegalmatters.com on 30 April 2020
Prac­tice Un­der Pres­sure: Bos­nia Bounces Back
CMS Part­ner An­drea Zubović-De­vedžić con­trib­uted to the second part of CEE Leg­al Mat­ter­s' Spe­cial Re­port on the Bos­ni­an Leg­al Mar­ket be­fore, dur­ing, and after the Bos­ni­an War.Read the whole art­icle...
01 September 2020
CMS Ex­pert Guide to re­struc­tur­ing and in­solv­ency law
Re­struc­tur­ings, es­pe­cially those in­volving mul­tiple jur­is­dic­tions, are in­vari­ably com­plex mat­ters. This CMS Ex­pert Guide provides an over­view of the vari­ous re­struc­tur­ing pos­sib­il­it­ies avail­able in a...
13 January 2021
EU­'s Por­tuguese pres­id­ency re­leases new draft of ePri­vacy Reg­u­la­tion
On 5 Janu­ary 2021, the Coun­cil of the EU – with Por­tugal serving as the Pres­id­ent-in-Of­fice – re­leased a new draft ver­sion of the ePri­vacy Reg­u­la­tion, which is meant to re­place the ePri­vacy Dir­ect­ive...
Published on ceelegalmatters.com on March 2nd 2020
State of Lo­gist­ics/Trans­port­a­tion/Ship­ping in Bos­nia and Herzegov­ina
12 May 2020
CMS Ex­pert Guide to the leg­al as­pect for com­pany dir­ect­ors & CEOs
Even be­fore the COV­ID-19 glob­al pan­dem­ic, dir­ect­ors of com­pan­ies were un­der great­er scru­tiny than ever, with in­creas­ing con­cerns be­ing ex­pressed over gov­ernance and even the fun­da­ment­al pur­pose of com­mer­cial...
01 December 2020
Ar­bit­ral rules – The sea­son of change con­tin­ues: ICC Ar­bit­ra­tion Up­date
On 1 Decem­ber 2020, the ICC In­ter­na­tion­al Court of Ar­bit­ra­tion launched its re­vised ICC Ar­bit­ra­tion Rules (the “Rules”), which will ap­ply to ar­bit­ra­tions sub­mit­ted to the ICC Court from 1 Janu­ary...
Published in Cee Legal Matters in January 2020
Cee Leg­al Mat­ters: Prac­tice un­der Pres­sure
26 March 2020
CMS Ex­pert Guide to sta­bil­isa­tion and re­struc­tur­ing ini­ti­at­ive
Many com­pan­ies have already suc­cess­fully dealt with im­me­di­ate ques­tions such as sup­ply chain man­age­ment, scal­ing down busi­nesses, man­aging em­ploy­ees, cash flow man­age­ment and li­quid­ity re­serves. We are...
23 October 2020
The EU FDI Reg­u­la­tion be­comes fully ap­plic­able
The EU FDI Reg­u­la­tion, which came in­to force in April 2019, in­tro­duces a frame­work for screen­ing FDI in­to the EU. It is not a sep­ar­ate new screen­ing tool at EU level, but a frame­work for co­oper­a­tion and...
21 January 2020
Emer­ging Europe M&A Re­port 2019/2020
Re­gard­ing M&A deal activ­ity in emer­ging Europe, 2019 seems to have been a year of mixed sen­ti­ments. While both the over­all value and volume of M&A deals in the re­gion were down year-on-year, many M&A pro­fes­sion­als claim an­ec­dot­ally that it was a more buoy­ant year than the pre­vi­ous one. There are also pre­dic­tions that in­vest­ment activ­ity in emer­ging Europe will  in­crease even fur­ther in the next 12 months. 2019 M&A deal volume was the low­est in the dec­ade, with only 1958 trans­ac­tions on re­cord (down 6.5%), with a com­bined value of EUR 72.34bn (down 10.1%). However, look­ing at the five-year av­er­age, the re­gion re­mains re­l­at­ively stable and, if 2019 was not much more than a “rough” patch, as some mar­ket com­ment­at­ors have sug­ges­ted, there is little reas­on for con­cern.The 2020 edi­tion of the emer­ging Europe M&A Re­port takes a closer look at some of the key drivers be­hind cur­rent deal mak­ing: which mar­kets have been par­tic­u­larly hot, which sec­tors gen­er­ate most the op­por­tun­it­ies, and where in­vest­ments are ori­gin­at­ing. On a coun­try-by-coun­try basis there are nu­mer­ous pos­it­ive signs. The re­gion’s largest mar­kets, Rus­sia and Tur­key, pro­duced an al­most sim­il­ar num­ber of deals as in 2018, while both Ukraine and Ro­mania saw a sub­stan­tial up­tick in activ­ity. In some of the more ma­ture mar­kets in the re­gion where deal volume de­clined, mainly the Czech Re­pub­lic and Po­land, over­all deal value was up com­pared to 2018, in­dic­at­ing a growth in av­er­age deal size. Des­pite a drop in trans­ac­tions, real es­tate and con­struc­tion main­tained its top spot by both volume and value. De­mand for lo­gist­ic centres and ware­houses in­creased rap­idly, par­tially driv­en by a need for dis­tri­bu­tion and re­turn centres for on­line re­tail­ers. In­terest in com­mer­cial real es­tate came from a healthy mix of in­vestors in­clud­ing Ger­man open-ended funds, glob­al in­fra­struc­ture and real es­tate in­vestors, sov­er­eign wealth funds, loc­al in­vestors and in­creas­ingly South Korean pen­sion funds. An­oth­er con­stant has been private equity. Suc­ces­sion, cor­por­ate carve-outs and sec­ond­ary sales con­tin­ue to provide fer­tile grounds for in­vest­ment. Re­gion­al funds have seen re­cord levels of fun­drais­ing in re­cent years and the re­gion re­mains on the radar for glob­al funds com­pet­ing at the top-end of the mar­ket for new in­vest­ments and bolt-on ac­quis­i­tions. In fact, most of the re­gion’s top 20 deals out­side Rus­sia in­volved non-stra­tegic buy­ers. With valu­ations ex­pec­ted to be­come more real­ist­ic, plenty of funds avail­able to be de­ployed and some size­able dis­pos­als in the pipeline, private equity activ­ity in the re­gion is set to con­tin­ue on its up­ward trend.  Tele­coms & IT has taken over from man­u­fac­tur­ing as the second busiest sec­tor be­hind real es­tate. Sev­en of the top 20 deals in 2019 took place in the sec­tor, but activ­ity was not lim­ited to mega deals. In ad­di­tion to ven­ture cap­it­al funds, ded­ic­ated vehicles es­tab­lished by cor­por­ates were scout­ing the re­gion in search for start-ups with new tech­no­lo­gies or mar­ket share. In­vest­ment from Asia seems to have di­ver­si­fied, both in terms of ori­gin­a­tion and as­sets ac­quired. Al­though not yet on a par with China or Ja­pan, South Korean and Singa­pore in­vest­ment is rap­idly in­creas­ing with in­vestors from those coun­tries par­tic­u­larly vis­ible in com­mer­cial real es­tate deals. In­vest­ment from Asia now makes up one-sixth of total trans­ac­tion value. Mar­ket pres­sures and com­pet­i­tion from new play­ers are lead­ing to an in­crease in busi­ness trans­form­a­tions and cor­por­ate re­struc­tur­ings, in­clud­ing the dis­pos­al of non-core as­sets. A re­view of for­eign par­ti­cip­a­tions is lead­ing to op­por­tun­it­ies across a num­ber of in­dus­tries in­clud­ing en­ergy, the fin­an­cial sec­tor, tele­com­mu­nic­a­tion and phar­ma­ceut­ic­als.  Com­pared to west­ern Europe, GDP growth in the re­gion is pre­dic­ated to re­main above the European av­er­age and in­creas­ing loc­al con­sumer de­mand should to an ex­tent com­pensate for the ef­fects of a slow-down in some of emer­ging Europe’s main ex­port mar­kets. The slight de­cline in deal activ­ity can po­ten­tially be ex­plained by sev­er­al pro­trac­ted or abor­ted deals which res­ul­ted from a com­bin­a­tion of dis­ap­point­ing per­form­ance or out­dated busi­ness mod­els by the tar­get as­set (from the buy­er’s per­spect­ive) or un­sat­is­fact­ory valu­ations (from the seller’s per­spect­ive). As mul­tiples ap­pear to be gradu­ally com­ing down, busi­ness own­ers look­ing to sell in the short to mid-term are per­haps likely to do so soon­er than later. Over the next year, emer­ging Europe will live up to its repu­ta­tion as a stable pro­vider of in­vest­ment op­por­tun­it­ies, par­tic­u­larly in M&A. With a healthy pipeline, 2020 will show that the re­gion is not run­ning out of steam just yet.
07 October 2020
Ger­many's Busi­ness Judge­ment Rule not ap­plic­able to in­solv­ency ad­min­is­trat­ors
In a re­cent de­cision, the Ger­man Fed­er­al Su­preme Court ad­dressed the ap­plic­ab­il­ity of the Busi­ness Judge­ment Rule to in­solv­ency ad­min­is­trat­ors in Ger­many and re­jec­ted the ap­plic­ab­il­ity of the rule in...
12 November 2019
New Li­quid­a­tion Pro­ced­ure Act of Re­pub­lika Srpska
The new Li­quid­a­tion Pro­ced­ure Act of Re­pub­lika Srpska has entered in­to force on 12 Oc­to­ber 2019 ("the Act"). This law in­tro­duces the shortened vol­un­tary li­quid­a­tion pro­ced­ure for the first time in Bos­nia...