Kocian Solc Balastik has advised J&T Arch Investments on its acquisition of a minority stake in the Moneta Money Bank from Petrus Advisers. Dechert reportedly advised the sellers.
Borivoj Libal Becomes Third Shareholder of Eversheds Sutherland in Prague
Eversheds Sutherland Prague office Co-Managing Partner Borivoj Libal was appointed as the firm's executive director and became its third shareholder on November 10, 2022.
Czech Republic: New Rules on AI and Product Liability
At the end of September 2022, the European Commission (EC) published the long-expected proposals for legal regulation on civil liability for damage caused with the involvement of artificial intelligence (AI Liability) and liability for damage caused by a defective product (Product Liability). Whereas a proposal on AI Liability already existed (Civil liability regime for AI, published by the European Parliament in 2020), this is the first draft of an updated Product Liability.
Czech Republic: Upcoming changes to consumer protection
Consumer protection is strongly enshrined in the Czech legal system and will be strengthened or clarified even further. It will therefore be necessary for sellers to adjust their terms and conditions in this regard.
Orrick Advises Salesforce Ventures on Mews's Series C Funding Round
Orrick has advised Mews' existing investor Salesforce Ventures on the company's recently announced Series C round of USD 185 million. Eldison reportedly advised Mews.
Closing: KKCG and Aricoma Group International Acquisition of Musala Soft Now Closed
On December 20, 2022, PPG Lawyers announced that KKCG's and Aricoma Group International’s acquisition of Musala Soft (reported by CEE Legal Matters on August 22, 2022) had closed.
Allen & Overy Advises on Fagron Ceska Republika’s Public Offer
Allen & Overy has advised Fagron B.V. on its public offer addressed to minority shareholders of Fagron Ceska Republika.
DLA Piper Advises Cube Infrastructure Managers on Acquisition of MVV Energie CZ
DLA Piper has advised Cube Infrastructure Managers on the acquisition of MVV Energie CZ. Eversheds Sutherland reportedly advised the sellers.
KSB Advises J&T IB Capital Markets on Bond Issuance by J&T Arch Convertible Sicav
Kocian Solc Balastik has advised J&T IB Capital Markets on the issuance of unsecured unsubordinated book-entry bonds by J&T Arch Convertible Sicav with a total value of up to CZK 1 billion and an option to increase by up to 100%.
Dentons Advises CSOB and Ceska Sporitelna on Financing Nova Waltrovka Project
Dentons has advised CSOB and Ceska Sporitelna on their EUR 74.13 million loan to Penta Real Estate for the construction of the office buildings within the Nova Waltrovka project in Prague.
Squire Patton Boggs Successful for Kosovo in ICC Arbitration
Squire Patton Boggs has successfully represented Kosovo in an International Chamber of Commerce arbitration concerning the revocation of a microfinance license.
Corporate Sustainability Reporting Directive Got Final Approval
On 28 November 2022, the Council of the European Union gave final approval on the Corporate Sustainability Reporting Directive (CSRD).
KSB and Relevans Advise on Seyfor’s Acquisition of Commander Services
Kocian Solc Balastik and Relevans have advised Seyfor on its acquisition of Commander Services.
KSB Advises J&T Banka on Acquisition of Amista Investicni Spolecnost
Kocian Solc Balastik has advised J&T Banka on its acquisition of a majority share in Amista Investicni Spolecnost from Cinekin. Tovarek Horky and Partners reportedly advised Cinekin.
JSK and Briza & Trubac Advise on Sudop Group's Acquisition of BizzTreat
JSK has advised the Sudop Group on its acquisition of an 80% stake in BizzTreat. Briza & Trubac advised BizzTreat founders Radovan Jirka and Jiri Tobolka as well as their spouses on the sale.
Closing: Wirtualna Polska’s Acquisition of Szallas Group Now Closed
On November 30, 2022, the BLS-CEE Law Firm announced that Wirtualna Polska’s acquisition of the Szallas Group from Portfolion Capital Partners and private individuals (reported by CEE Legal Matters on September 16, 2022) had closed.
Closing: J&T and Concens Investments’ Sale of Ostrava Logistics Assets to EQT Exeter Now Closed
On November 15, 2022, CMS announced that J&T and Concens Investments’ sale of their Ostrava logistics assets to EQT Exeter (reported by CEE Legal Matters on January 19, 2022) had closed.
A Significant Amendment to the Czech Significant Market Power Act
An amendment to the Czech Significant Market Power Act (the "SMP Act"), which should harmonise Czech law with the EU directive on unfair business practices (the "Directive"), was recently signed by the President and will become effective as of 1 January 2023.