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Clifford Chance and Wilson & Partners Advise on Sale of Largest Shopping Center in the Czech Republic

Clifford Chance and Wilson & Partners Advise on Sale of Largest Shopping Center in the Czech Republic

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Clifford Chance's real estate team has advised long-standing client CBRE Global Investors on its acquisition of the OC Letnany shopping center from Tesco, on behalf of a separate account client of CBRE. Tesco was advised by Wilson & Partners.

OC Letnany, the largest shopping center in the Czech Republic with 160 units and covering 63,478 square meters of retail and 3,551 square meters of office space, hosts stores from well-known global brands such as C&A, H&M, Zara, and Marks & Spencer. The center, anchored by a recently modernized Tesco hypermarket, also provides a multiplex cinema, food court, and 3,200 parking spaces. Tesco will continue to operate its hypermarket in Letnany, its flagship store in Czech Republic, on a long-term lease.

The transaction was led by Clifford Chance Partner Emil Holub, supported by Real Estate Associates Aneta Sosnovcova, Michal Pivarci, and Milan Rakosnik. Partner Milos Felgr advised on the financing aspects of the transaction, supported by Associate Dominik Vojta. The team in Prague also coordinated the advice of colleagues from Clifford Chance's Frankfurt, Luxembourg, and Amsterdam offices.

The Wilson & Partners team consisted of Partner Bryan Wilson and Senior Lawyer Monika Kajankova.

Image Source: oc-letnany.cz

Czech Republic Knowledge Partner

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

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