Clifford Chance has advised Vseobecna Uverova Banka a.s., the Slovak subsidiary of Intesa Sanpaolo, on the update of its EUR 5 billion covered bond program and another syndicated EUR 500 million issuance via the Luxembourg Stock Exchange. Allen & Overy reportedly advised joint lead managers Banca IMI S.p.A., Commerzbank Aktiengesellschaft, Danske Bank A/S, Erste Group Bank AG, and Landesbank Baden-Wuerttemberg.
On May 27, 2020, CEE Legal Matters reported that Dentons had advised CPI Property Group on a successful tender offer of bonds and the issue of EUR 750 million 2.75% notes due 2026 under CPI's EUR 8 billion Medium Term Note Program. We spoke with Martin Matula, General Counsel at CPI, to learn more.
Kocian Solc Balastik has advised Czech hosting company Ignum, a member of Slovakias WY Group, on the acquisition of the hosting division of Axfone LLC, a development and telecommunications company with branches in Europe, the USA, and Asia. Solo practitioner Richard Sysel advised Axfone on the deal.
Similar to other areas of human endeavour, healthcare is bound to undergo the inevitable process of digital transformation. In the last two years the Czech Republic has taken its first steps towards digitizing its healthcare system by introducing mandatory electronic prescriptions and electronic sick notes and is about to introduce an electronic medications record. Unfortunately, there has been little progress on other fronts. Moreover, the Ministry of Health has yet to complete its draft law setting common standards and rules for eHealth, and it is unlikely to meet its current goal of having the law go into effect in 2021.
An amendment to the Civil Code will enter into force on 1 July 2020, which (i) cancels (save for some exceptions) the pre-emption right of co-owners of real estate, (ii) lifts the ban on contractual penalties against tenants of residential premises, and (iii) significantly changes the legal regulation of unit owners associations.
Weinhold Legal has advised the shareholders of Klikpojisteni.cz, a.s., including the private equity arm of Benson Oak Capital, on the sale of their 100% stake in Klikpojisteni.cz, a.s. to a company majority-owned by TA Associates and minority-owned by MCI EuroVentures. The buyer was advised by Wolf Theiss and Travers Smith. Financial details were not disclosed.