CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
In February 2019 the Ministry of Justice of the Czech Republic submitted a bill that aims to provide whistleblowers credible tools to report illegal conduct in the workplace and protect them against potential reprisals. The bill also introduces new duties for many employers.
“The main thing right now is the upcoming amendment to Act on Corporations,“ starts Kinstellar Partner Tomas Cihula, describing the situation in the Czech Republic. “The Parliament is considering proposals which seek to clarify some parts of the current legislative framework and that aim to ease the regulatory burden companies are facing.“ Cihula said that this overhaul was met with “approval from the business sector.“
Glatzova & Co has advised the Pale Fire Capital investment group on its acquisition of 55 percent of shares in the Czech Aukro.cz business portal from Agora Development, Equity Partners, and Ladislav Chodak for an undisclosed price. The sellers were reportedly advised by Kubica Zajic & Partners. The remaining 45 percent of Aukro.cz is owned by Leverage Technology, reportedly advised by solo-practitioner Ondrej Kolar.
Kinstellar has helped Carvago, a Czech start-up in the used car sector, establish a company and set up its online platform.
Masek, Koci, Aujezdsky has advised Livesport on its acquisition of Tapito, a tech start-up news application company, from O2 subsidiary Bolt Start Up Development. Financial details were not disclosed.
JPM, Clifford Chance, and Kocian Solc Balastik have advised Pepsico and Karlovarske Mineralne Vody on the acquisition of Knjaz Milos, a producer of mineral water and soft drinks in the countries of former Yugoslavia, from Mid Europa Partners. Karanovic & Partners advised the sellers.
CMS has advised Kiwi.com regarding General Atlantic’s strategic investment in it. Kiwi.com co-founders Oliver Dlouhy and Jozef Kepesi will remain significant shareholders and continue to lead the company. Terms of the deal were not disclosed. DLA Piper also provided legal advice to Kiwi.com while Weil, Gotshal & Manges acted as counsel for General Atlantic.
Daniela Kozakova has joined the Siroky Zrsavecky law firm to lead its Art Law team.
Prague's Masek, Koci, Aujezdsky Law Firm has advised Livesport Invest s.r.o. on its acquisition of Pragosport, a.s.
Clifford Chance has advised J&T Real Estate CZ on the sale of the Rustonka office center in Prague's Karlin district to an investment trust fund established by Hana Alternative Asset Management and White Star Real Estate.
Noerr, together with the Austria's Arnold law firm, has advised SignaRetail on the sale of Kika’s Eastern European business to XXXLutz. XXXLutz was represented by CHSH on the purchase and by Wolf Theiss on the merger clearance process.
Kinstellar, Gibson, Dunn & Crutcher, Stibbe, and Binder Groesswang have advised CANAL+ Group, a subsidiary of the Vivendi group, on the acquisition of the M7 Group from Astorg, a European private equity firm. Paul Hastings and Loyens & Loeff advised Astorg and the other selling shareholders of the M7 Group.
White & Case has acted as transaction counsel on Rohlik.cz Finance's issue of CZK 777 million 6.6% guaranteed and secured notes due 2023, with the option to increase to CZK 1.166 billion.
Allen & Overy has advised Alpiq AG on its sale of 100% of shares in Alpiq Generation to Sev.en Energy Group for EUR 280 million. CMS advised Sev.En Energy.
The Prague office of Schoenherr has advised Portiva Private Equity a.s. on the acquisition of a 50% share in EAG SE, which, through its Carvagocom s.r.o. subsidiary, will operate an innovative platform to be used for buying, selling, and renting cars and other related services. Kinstellar advised EAG in the deal.
PRK Partners has advised the Remy Cointreau Group on Czech and Slovak aspects of the sale of its Czech and Slovak distribution companies to Germany's Mast-Jagermeister. Germany's Luther law firm provided advice on German elements of the deal, which closed in April 2019. while Germany's Gutt Olk Feldhaus and Schoenherr in the Czech Republic and Slovakia reportedly advised Mast-Jagermeister. Financial details were not disclosed.
Dentons Prague is providing pro bono assistance to the Eduzmena Endowment Fund regarding its establishment and rules of operation.
Establishing a real and sustainable energy mix is a crucial task for every democratic state. In addition, any energy mix that has been chosen and put in place may change. Indeed, it has to, if the terms and conditions on which it was established undergo important changes. This, of course, applies in the Czech Republic as everywhere else.
For more than 25 years PRK Partners has been providing top tier, comprehensive legal services in all areas of law – always at the highest professional level. The company’s offices in Prague, Ostrava and Bratislava, as well as its specialised teams of legal practitioners and tax advisors, allow PRK Partners to offer solutions to any kind of legal issues, providing an international point of view and in-depth knowledge of the respective local legal system.
The full-service law firm has worked on many of the region’s largest and most complex transactions. The firm puts emphasis on the highest standards of quality, efficiency and flexibility in its advisory services, which are tailored to the specific requirements of each client.
Our team is composed of professionals with international education and experience. The firm frequently works on a non-exclusive basis with leading international law firms on large cross-border transactions.
PRK Partners is consistently recognised among the top law firms by leading international and domestic directories and ratings agencies and has been honoured with numerous awards:
• National Law Firm of the Year 2016 by the Chambers Europe Awards, the most prestigious international law firm competition. This is the fifth award PRK Partners has received since the awards were first given; National Law Firm of the Year 2014, 2013 and 2010 and Law Firm of the Year 2012 for Best Client Service.
• 2018 Best Law Firm of the Year in the category of Banking &Finance and the absolute winner in the main category of the Domestic Law Firm of the Year awards organised by epravo.cz under the auspices of the Czech Bar Association three times since the award's inception (in 2016, 2013 and 2011).
• a finalist of the Central European Law Firm of the Year category in The Lawyer European Awards 2018.
The firm has a strong commitment to corporate social responsibility and pro bono work.
PRK Partners is the exclusive member firm in the Czech Republic for Lex Mundi, the world’s leading network of independent law firms, with in-depth experience in 100+ countries worldwide. In addition, the firm is a member of Celia Alliance, AFI (Association for Foreign Investment) and CVCA (the Czech Private Equity and Venture Capital Association).
Firm's website: www.prkpartners.com
