ODI Law in Slovenia and the LTA Legal Tax Audit firm in the Czech Republic have advised the Czech Ministry of Finance and IMOB and PRISKO, the Ministry's two state-owned subsidiaries, on the cross-border sale of a majority stake in VIPAP VIDEM KRSKO, the largest paper mill in Slovenia, as well as on the sale of claims against it, all to Czech-based RIDG Holding. RIDG was advised by Schoenherr.
The transaction, which was governed by Slovenian and (partly) Czech law, and was subject to various conditions precedent (including merger clearance in various jurisdictions), was preceded by a lengthy and complex ODI-led restructuring process of VIPAP that involved the sale of claims against the company by other financial creditors, including the two largest Slovenian banks (NLB and NKBM) and TCK, to RIDG. (As reported by CEE Legal Matters on December 16, 2016).
The ODI team on the sale to RIDG Holding was led by Partner Suzana Boncina Jamsek.
The LTA team was led by Counsel Zdenek Rosicky.
The Schoenherr team was led by Prague-based Partner Vladimir Cizek and Ljubljana-based Attorney at Law Jurij Lampic.