White & Case has advised Avast Software and a selling shareholder consortium on the sale of a significant minority stake to CVC Capital Partners, one of the world's leading private equity and investment advisory firms.
Avast Software is one of the world's major players in the antivirus market. The company provides free antivirus software which can be downloaded from the internet and its products are used on more than 200 million PCs and other devices worldwide. It sells additional, premium products to subscribers to its basic free software package.
White & Case's involvement in the deal included advising on the new US borrower financing that supported CVC's acquisition of an approximate 40 percent interest in Avast, which values the Prague-based business at around USD 1 billion.
White & Case Partner Michal Smrek, who is based in Prague and leads the firm's relationship with Avast, said: "We were very excited to support Avast again and in such an important transaction. It is another milestone in our long term relationship with this company.
Partner Ian Bagshaw, London-based co-head of the firm's private equity practice in EMEA, said: "This fantastic mandate clearly demonstrates the rationale behind strengthening our private equity capability in EMEA. White & Case was able to support Avast on a US borrower financing solution for CVC and, at the same time, represent the selling shareholders on this significant transaction.
The White & Case team on the deal was co-led by Partners Smrek and Bagshaw, and included Partners Eric Berg, Justin Wagstaff, Ales Zidek, Damian Beaven, and Jiri Tomola, as well as Associates Jakub Zavadil, Jakub Mencl, Steven Hannah, Sevda Staykova, Marcus Booth, Charlotte Dixon, and Heather Borthwick.