Dentons has advised CPI Property Group on a successful tender offer of bonds and the issue of EUR 750 million 2.75% Notes due 2026 under CPI's EUR 8 billion Medium Term Note Program.

An amendment to the Civil Code will enter into force on 1 July 2020, which (i) cancels (save for some exceptions) the pre-emption right of co-owners of real estate, (ii) lifts the ban on contractual penalties against tenants of residential premises, and (iii) significantly changes the legal regulation of unit owners associations.

Weinhold Legal has advised the shareholders of Klikpojisteni.cz, a.s., including the private equity arm of Benson Oak Capital, on the sale of their 100% stake in Klikpojisteni.cz, a.s. to a company majority-owned by TA Associates and minority-owned by MCI EuroVentures. The buyer was advised by Wolf Theiss and Travers Smith. Financial details were not disclosed.

Glatzova & Co has advised the KKCG investment group on the sale of Conectart, a call center operator in the Czech Republic, to the Genesis Capital Group. The Prague office of Kinstellar advised the buyers on the deal.

Kinstellar has helped CSOB to launch the we.trade finance platform in the Czech Republic.

GT Legal has represented Fragile Media s.r.e. founder Daniel Kafka and the Etnetera Group at the sale of their combined 50% stake in Fragile Media to the Czech KnowLimits media and communications group. The Trojan, Dolecek & Partners team advised the buyers on the deal.

As the COVID-19 pandemic keeps reshaping the M&A environment across Europe with only deals at the late stage proceeding further, we may also expect the advent – albeit slow and gradual – of distressed M&A in the Czech Republic as businesses fall into financing difficulties. Some businesses will strip off non-core assets, while others will end up in bankruptcy. In each case, this instability presents a wide array of options for strategic investors.

PwC Legal has advised Varroc Lighting Systems, a Czech manufacturer of headlamps, on the expansion of a syndicate of creditors which had extended the company a EUR 230 million loan. The banking syndicate was advised by Dentons.

Binder Groesswang and Havel & Partners have advised BEXity and its holding company, Mutares SE & Co. KGaA, on the sale of Czech subsidiary European Contract Logistics in a management buy-out. The buyer, EC Logistics CEO Roman Goerojo, was advised by Jandura a Partneri.

Romanian lawyer Zsuzsa Csiki, Ukrainian lawyer Iryna Nikolayevska, and Czech lawyer Karla Rundtova have been promoted to Partner at Kinstellar.

Weinhold Legal has advised technology security start-up Resistant AI on its recent venture financing round. The co-lead investors are Credo Ventures and Index Ventures, with Seedcamp and other angel investors contributing as well.

The Czech Constitutional Court did not repeal the Act on Significant Market Power, as demanded by a group of senators almost four years ago. However, the judges stated that the provision on limiting the amount of suppliers’ payments to customers with significant market power to 3% of the supplier's annual sales, is unconstitutional.

In The Corner Office feature of CEE Legal Matters we ask Managing Partners at leading law firms across Central and Eastern Europe about their unique roles and responsibilities. In light of current events, the question for this online occurrence of the feature is: "What have been the top three most often asked COVID-19 related questions that you have gotten from clients in the last month?”

In The Corner Office we ask Managing Partners across Central and Eastern Europe about their unique roles and responsibilities. The question this time around: What major initiative or new plan does your office (or firm) plan – if any – for 2020?

In response to the coronavirus outbreak, most CEE/SEE countries have introduced provisions to close certain premises, while only some have banned the termination of leases in order to protect tenants who have lost revenues.

Prorogation clauses are forum-selection clauses in contracts between entrepreneurs, who agree in writing on the local jurisdiction of a first-instance court for disputes arising out of or in connection with their business matter, unless the law states otherwise and prescribes an exclusive jurisdiction. It is possible to enter into a separate prorogation agreement instead of a contractual clause with the same effect.

Baker McKenzie has advised Kofola CeskoSlovensko on its acquisition of Karlovarska Korunni and Ondrasovka food and beverage companies. 

Petr Vybiral has been promoted to Partner at Allen & Overy in Prague, effective on May 1, 2020, as part of a global promotion round involving a total of 29 new partners worldwide.