Joint venture company of MTU Aero Engines and Lufthansa Technik set up with DZP assistance
On the part of DZP, assistance in forming the joint venture of MTU Aero Engines AG and Lufthansa Technik AG was provided by experts from the Infrastructure and Energy Practice: Marcin Krakowiak, Partner, Head of the Practice and dr Krzysztof Fliszkiewicz, Senior Associate.
The contract, which followed up on an agreement on the general principles of the cooperation concluded in February 2017, was finalised by the two companies on 4 December. Each of the partners will hold 50% of shares in the new company.
EME Aero will be based in Poland and is going to employ more than 800 employees in the future. Both parties will invest the total of approx. EUR 150 million by 2020 as part of the joint venture.
EME Aero will carry out maintenance, repair and overhaul (“MRO”) of aircraft engines produced by the US firm Pratt&Witney and used in Airbus A320neo aircraft used by Lufthansa and other carriers, Bombardier CS aircraft, and other airplane.
Lufthansa Technik AG
Lufthansa Technik provides MRO services for aircraft engines and engine components. It offers a wide range of services tailored to customers’ needs as part of both stand-alone orders and comprehensive maintenance services during the aircraft life cycle. Lufthansa Technik also offers special services such as aircraft lease and aircraft sale assistance, e-services, and emergency AOG services.
MTU Aero Engines AG
MTU is a manufacturer of aircraft engines. It designs and manufactures engines for commercial and military aircraft of a full range of thrust capability and industrial gas turbines. It also provides maintenance services for these products.
In the commercial aircraft engines business, MTU offers engines in all thrust and power categories. In the maintenance business, MTU is an independent provider of MRO services for commercial aircraft engines. The primary focus is on providing support for engines in which MTU is a risk- and revenue-sharing partner. MTU also offers also offers repair services for a wide variety of different engine types. In the area of military aircraft, MTU delivers the enabling technologies, develops and manufactures engines and engine components, and provides logistics support.
For more information, please contact:
Emilia Zakrzewska-Koszel, E: emilia.zakrzewska-koszel@dzp.pl, T: 22 557 76 45
Bank Millennium hailed “Bank appreciated by customers”
Bank Millennium won the ranking prepared on the basis of the ARC Rynek i Opinia “Retail Bank Customers Satisfaction Monitor” survey. The Bank came first in the main “Satisfaction” category and also in “Fees and Commissions Assessment”.
During the survey personal customers assessed various aspects of their banks. According to ARC Rynek i Opinia survey institute their assessment largely depended on what their expectations of and attitude towards their bank are. Perception of the institution, its financial stability as well as well priced products and services resulted in highest user satisfaction. Authors of the ranking also drew attention to the fact that perception of prices proposed by banks significantly affects customer satisfaction. What is also important is the perception that rules for calculating fees are clear and transparent.
The “Retail Bank Customers Satisfaction Monitor” survey is carried out once a year among customers of 14 biggest banks in Poland. The title of “Bank appreciated by customers” is awarded in three categories – “Satisfaction – main ranking”, “Fees and commissions assessment” and “Assessment of points of contact” (branch, call centre, website, mobile banking, internet banking). It is given to banks, which received top scores from their customers.
Euro Pool System (EPS) and La Palette Rouge (LPR) celebrate together 25 years of activity
Euro Pool System (EPS) and La Palette Rouge (LPR) celebrate together 25 years of activity
The third edition of Workcamp Lodz has started
Holidays is a perfect time to rest, especially for students. However, the students of the Technical University of Lodz decided to spend their free time on hard work and help others. The third edition of Workcamp Lodz has just started, with the support of Mota-Engil Central Europe and the We support locally program.
During the previous edition of Workcamp Lodz, the students of the Technical University renovated the rooms for the Child Care Home at ul. Nawrot in Lodz. At that time, Mota-Engil Central Europe, in addition to the newly renovated road, managed to equip the Home with new beds, mattresses, blankets, curtains and other daily necessities.
This year, the volunteers from Technical University of Lodz with the support of Mota-Engil Central Europe will renovate the Child Care Home No. 11 at ul. Wólczańska. They will brick, tile, paint walls, equip and refresh children’s rooms. It is a charitable action, realized with great passion and commitment. Works started on Monday, July 31, and their completion is planned for August 15th. The action and activities of the 20 volunteers is supported by Mota-Engil Central Europe under the We support locally program.
CMS and DZP advised on the purchase of Sheraton Grand Kraków Hotel
CMS advised Invesco Real Estate, a global investment management firm, on the purchase of Wawel Holding Sp z o.o., the company owning the Sheraton Grand Kraków Hotel.\
DZP advised Algonquin, a pan-European hotel investor and operator , on the sale of Wawel Holding sp. z o.o.
The transaction closed on 28 February 2017for a total value of €70 million.
“The transaction was particularly interesting due to the significance of the Sheraton Grand Krakow Hotel for Krakow’s hospitality market.” said Wojciech Szybkowski and Adriana Andrzejewska from CMS, while Bartosz Marcinkowski and Marcin Kuliński from DZP stressed the complexity of the deal, not unusual in the hotel sector.
CMS’s work was coordinated by Wojciech Szybkowski, partner, and Adriana Andrzejewska, senior associate, working together with Piotr Przybylski, associate in the Real Estate Practice. Małgorzata Urbanska, partner, and Michal Derdak, senior associate, from the CMS Competition team, advised on antitrust clearance for the transaction. Konrad Werner, senior associate, from the Banking and Finance Practice was also involved in the project.
DZP’s work was led by Bartosz Marcinkowski, partner, and Marcin Kuliński, senior associate, assisted by Agata Iżyk, associate, all from DZP’s M&A & Corporate Practice, with key contributions from Magdalena Skowrońska, partner, Paulina Armada-Rudnik, associate, both from DZP’s Capital Markets and Financial Institutions Practice and Joanna Wierzejska, tax partner in DZP’s Tax Practice.