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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

HAVEL & PARTNERS, attorneys-at-law, with offices in Prague, Brno, Bratislava, Pilsen, Olomouc, and Ostrava, has a team of 220 lawyers, tax advisors and 500 employees in total, is the largest independent law firm in Central Europe.

Our clients include large international companies, leading Czech and Slovak firms, including strategic state-owned companies and public sector authorities, as well as medium-size businesses, individual entrepreneurs, and investors. We advise approximately 100 of the Fortune 500 companies, and almost 50 of the Czech Top 100 companies. HAVEL & PARTNERS currently provides its services to a total of 2,000 clients. We have the most comprehensive international support available to both Czech and Slovak law firms. We provide legal and tax advice in 12 world languages in more than 90 countries around the globe. Up to 70 % of the transactions we deal with involve an international aspect.

HAVEL & PARTNERS was named the best law firm operating in the Czech Republic by the prestigious British rating agencies Chambers and Partners (2020) and Who’s Who Legal (2018, 2019). It is also the most successful law firm, providing the most comprehensive legal services in the Czech Republic and Slovakia, based on the total number of all nominations and awards in all years of the Law Firm of the Year awards. The firm became the absolute winner of this competition four times in the last six years, receiving the main award Domestic Law Firm of the Year in the Czech Republic (2015, 2017, 2018, 2020) and ranking as one of the most recommended law firms in all categories of law. Our company is also a three-time winner of the Law Firm of the Year award for Best Client Services (2015, 2016, 2019). In the field of M&A, HAVEL & PARTNERS is the best law firm in the Czech Republic based on the annual International Advisory Experts awards (2018, 2019). In Slovakia, it also won the prestigious global M&A Today Awards (2013–2018) for Mergers & Acquisitions six times in a row, and repeatedly won first place in the ranking by Lawyer International Legal 100 (2017, 2018). Prestigious international rating agencies EMIS DealWatch and Mergermarket have ranked HAVEL & PARTNERS among the leading law firms by the number of transactions completed in the entire CEE region since 2009. Based on annual awards of the Acquisition International magazine, HAVEL & PARTNERS has become the Law Firm of the Year 2019 in the M&A category in the CEE region.

Firm's website: https://www.havelpartners.cz/en/

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