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CMS and Kinstellar Advise on Gelsenwasser's Sale of Czech Utility Business to Accolade Group

CMS and Kinstellar Advise on Gelsenwasser's Sale of Czech Utility Business to Accolade Group

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CMS has advised Gelsenwasser on the sale of its Czech water supply, wastewater disposal, and heat and power generation business to the Accolade Group. Kinstellar and, reportedly, Herbert Smith Freehills advised the Accolade Group.

The transaction remains contingent on regulatory approval.

Gelsenwasser is a listed German infrastructure and utility company. Its activities include, in addition to water, gas and electricity supply, and wastewater disposal, services for infrastructure, renewable energies, digital networks, and neighborhood concepts.

The Accolade Group operates industrial parks in the Czech Republic, Poland, Germany, and Slovakia.

According to CMS, “Gelsenwasser is ending its successful involvement in the Czech region of Karlovy Vary after more than 25 years, and will in the future focus on its activities in Germany and Poland. 100% of the shares of Gelsenwasser Beteiligungen were sold. Gelsenwasser Beteiligungen, in turn, held 28.16% of the shares in Chevak Cheb and 50% each in Terea Cheb and KMS Kraslicka Mestska Spolecnost.”

The CMS team included Czech Republic-based Partner Lukas Janicek, Associates Lukas Reichmann and Jan Gerych, and Lawyer Huyen Vuova, with further team members in Germany.

The Kinstellar team included Partners Klara Stepankova and Tomas Cihula and Managing Associate Michal Kniz.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

Firm's website.