Allen & Overy has advised the UniCredit Bank Czech Republic and Slovakia on its EUR 500 million issuance of green mortgage-covered bonds. White & Case advised global coordinator UniCredit Bank AG as well as the joint lead managers.

The German Supply Chain Due Diligence Act (Lieferkettensorgfaltspflichtengesetz; "LkSG") is effective from 1 January 2023 for companies and branches based in Germany with more than 3,000 employees, with further extension to companies with more than 1,000 employees from 1 January 2024.

Glatzova & Co has successfully represented INU.COM in licensing proceedings before the Czech National Bank, with the company being granted an investment intermediary license effective June 17, 2023.

Reals has advised Stora Enso on a lease agreement for premises in the Organica office building in Ostrava, the Czech Republic, from Contera. JSK advised the landlord.

Last week, the Czech Competition Authority ("CCA") blocked an acquisition of part of První novinová společnost a.s. ("PNS") by Česká pošta, s.p. ("Czech Post"). While it is impossible to foresee the exact future of merger control enforcement in the Czech Republic, what is clear is that the CCA with this decision, whether intentionally or not, has sent a message to the market that it is ready to take the hardest line on a merger if it raises competition concerns. We summarize main details of the case and additional thoughts on its impact below.

Summary of new Czech whistleblowing legislation 

PRK Partners has advised the Electrostar Group on setting up its operations in the Czech Republic – including the acquisition of an industrial site in the Pilsen Region.

The EU is taking another legislative step in the fight against climate change. The Carbon Border Adjustment Mechanism (CBAM) is set to become a complement to emissions trading and later replace it entirely, according to a new regulation.

Dentons has advised Farmak on a series of acquisitions from a portfolio company of private equity house Novator. 

Kocian Solc Balastik has advised the Vaclav Havel Library on changing its legal form from a public benefit corporation to a foundation.

On June 7, 2023, the Arbitration Association of Central and Eastern Europe – ArbCEE – was officially launched in Bratislava.

On February 9, 2023, the Committee on Industry, Research, and Energy voted in favor of a revised Energy Performance of Buildings Directive (EPBD), which is a part of the EU’s new extensive climate and energy legislation known as “Fit for 55”. The main objective of the revised EPBD is to reduce greenhouse gas emissions and the overall energy consumption of buildings by 2030 with the eventual goal of reaching climate-neutral buildings in the EU by 2050.

Following a tumultuous year marked by the ongoing conflict in the region and rising financing expenses, we reached out to experts across CEE to gain a deeper understanding of the real estate landscape, including key factors driving the industry and the primary obstacles it faces.

Contributed by Kocian Solc Balastik

Wolf Theiss has advised the Sekyra Group on its forward sale of the Opatov II residential project to Dostupne Bydleni Ceske Sporitelny and the Vienna Insurance Group's Kooperativa Pojistovna.

Former White & Case Local Partner Tomas Scerba and Michal Hink – previously Dentons’ Czech Republic Managing Partner – have joined DLA Piper’s Prague office as Partners. Alongside the two, Leo Javorek also joined the firm as a Counsel.

Weinhold Legal has successfully represented the City of Kladno before the Czech Republic's Supreme Administrative Court in a dispute regarding the determination of the municipality's contribution to transport services on intercity bus routes.

White & Case has advised the PPF Group on its acquisition of a 15% shareholding in InPost from Advent International for EUR 10 per share. Weil, Gotshal & Manges advised Advent.