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The new European data regulation introduces new rules for the use of information from smart devices. These rules define rights to access and use data created in the EU across all economic sectors and across smart devices from different manufacturers.

Greenberg Traurig has advised the Cromwell Property Group on its EUR 285 million sale of a real estate portfolio consisting of six retail centers located in Warsaw, Szczecin, Wroclaw, Lodz, Torun, and Bydgoszcz to Star Capital Finance. Dentons advised Star Capital Finance.

We bring you a brief overview of important legislative news from the Czech Republic that should not escape your attention.

Similarly to other countries, the Czech Republic is undergoing a digital transformation. Without a doubt, this transformation allows businesses to facilitate their operations and makes all of our lives much easier. On the other hand, this transformation leads to new cybersecurity threats that may hinder businesses and cause significant losses.

The Czech economy entered a deep slump in 2023 caused by the rather rare and unfortunate combination of negative economic and geopolitical factors, including one of the highest inflation rates in the EU, rising interest rates, high energy prices, a large public finance deficit, and the adverse impacts of the war in Ukraine. Altogether, these economic difficulties resulted not just in an economic recession but also adversely affected the Czech M&A market.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. Given the dynamic and ever-evolving nature of the legal profession, we asked: What is the one critical skill that you’re investing time and energy in to develop within your team, and why?

The annoying length of the construction permitting process in the Czech Republic became a notoriety. Thanks to this, the prices of new dwelling premises are sky-high, and foreign investors are leaving their projects because they are unable to plan their investment – a striking example of which is the recently abandoned Microsoft project of a new data center in Prague.

Clifford Chance has advised Ceskoslovenska Obchodni Banka and Ceska Sporitelna on the financing for Oriens group member Central European Retail Holding's acquisition of the Hruska retail chain through the full acquisition of Hruska and Sempronemo. Clifford Chance also advised Oriens on the acquisition transaction.

We bring you a brief overview of important legislative news from the Czech Republic that should not escape your attention.

Czech Republic Knowledge Partner

PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.

PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.

Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.

PRK Partners has been repeatedly voted among the most socially responsible firms in the category of small and mid-sized firms and was awarded the bronze certificate at the annual TOP Responsible Firm of the Year Awards.

Our work is not only “business”: we have participated on a longstanding basis in a wide variety of pro bono projects and supported our partners from the non-profit sector (Kaplicky Centre Endowment Fund, Tereza Maxová Foundation, Czech Donors Forum, etc.).

Firm's website: www.prkpartners.com

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