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Clifford Chance has advised investment group KKCG on the sale of its CK Fischer travel agency in the Czech Republic to German group REWE, the owner of EXIM Tours and Kartago Tours in the Czech Republic and Slovakia. Eversheds Sutherland advised the REWE Group on the deal, which has yet to be approved by the Czech office for the Protection of Competition.

Kocian Solc Balastik has advised the Corinthia Palace Hotel Company Limited on the sale of its Panorama Hotel Prague and adjoining land and property to the Austrian developer S + B Gruppe.

Havel & Partners has advised German-based investors Thomas Noglik, Thomas Strohe, and Jochen Berger, acting through their BrainWeb Investment GmbH, Pecunalta GmbH, and Quines Capital GmbH companies, on their acquisition of a 75% stake in the VSHosting Group. CEE Attorneys advised the unidentified sellers.

DLA Piper Poland, Oppenheim, and PRK Partners have advised Metro Properties on the more-than-EUR 250 million sale and lease-back of 11 Cash & Carry stores in Poland, Hungary, and the Czech Republic to FLE GmbH, an Austrian subsidiary of French LFPI Group, investing on behalf of the AIF regulated fund. Allen & Overy, Novalia, and DLA Piper Hungary advised FLE on the transaction, which was finalized in August 2019.

It has been over a year since the European Union’s General Data Protection Regulation became mandatory across Europe, marking a seismic shift in the way that companies collect, process, and handle personal data. Countries across the European Union and beyond have adapted their national laws to meet the requirements of the GDPR – with many introducing local derogations as permitted by the GDPR.

Schoenherr, working with lead counsel Kirkland & Ellis, has advised Apax Partners on its acquisition of a majority stake in the ADCO Group. The ADCO Group’s shareholders were advised by King Wood & Mallesons on the transaction, which remains subject to regulatory approvals and is expected to close by the end of the year.

This time, our law firm marketing friends across CEE considered the following question: “What one part of your job would you most appreciate having more help with – not in terms of training or capability, but simply in terms of time?”

I am often asked by my foreign colleagues and clients about how the Czech Republic is doing, and my answer is that we are doing fine. Putting aside the political situation, which is similar to many other countries, economically we are doing very well; there was strong GDP growth of 4.6% in 2017 and almost 3% last year. Part of this growth is clearly attributable to our strong, maturing startup and investor community, which is pushing the country forward. Czechs have a talent for improvisation and finding solutions that work well, using innovation, research and development, and technology. We have invented many tools that have changed the world in fields such as nanotechnology, chemistry, and engineering. At the same time, we now have a pool of investors who are able to invest in new startup companies and back up the research and development that is done.

Wolf Theiss has advised Wilsonart Engineered Surfaces on its acquisition of Technistone, a global manufacturer of quartz. Clifford Chance advised Technistone on the transaction, which remains subject to regulatory approvals and is expected to close in September of 2019.

The Czech Republic was one of the first countries in Europe to allow the use of cannabis for medical purposes. This was achieved in 2013 by means of an amendment to the Act on Pharmaceuticals, which was subsequently implemented by the “Cannabis Regulation.” Despite this, access to medical cannabis still remains difficult for many patients.

McDermott Will & Emery has advised German automotive supplier Borges on its restructuring. Latham & Watkins acts as coordinating counsel to the bank syndicate on the restructuring, with the Prague and Warsaw offices of Clifford Chance advising the syndicate and Dentons lawyers in Frankfurt and Berlin advising Bank Ceska Sporitelna.

Czech Republic Knowledge Partner

JŠK, advokátní kancelář, s.r.o. (JŠK) is a medium-sized law firm based in Prague providing a comprehensive range of commercial legal advisory services in the Czech Republic. Our team consists of almost 30 lawyers, five of whom are partners with many years of experience from leading international law firms. We advise local and international clients from banking, insurance and various industry sectors, boast a respected projects practice, and work for the public sector at the federal and municipal level.

Ever since it was founded in 2004, JŠK has striven for the epitome of professionalism, expertise and ethical integrity. We continuously seek to surpass what large global law firms can offer and to give our clients a personal approach. All mandates are equally important to us regardless of size as we guide clients through both complex and seemingly routine matters.

Our clients turn to us for advice when implementing their business plans across all areas of commercial law. We are proud members of PONTES: the CEE lawyers, a unique network of law firms through which we provide services not only in the Czech Republic but also in Austria, Bulgaria, Hungary, Poland, Romania and Slovakia.

Firm's website: http://www.jsk.cz

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