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Allen & Overy Advises Wood & Company on Block Trade Disposal of CZG Shares

Allen & Overy Advises Wood & Company on Block Trade Disposal of CZG Shares

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Allen & Overy has advised sole global coordinator Wood & Company Financial Services on a CZK 366 million block trade disposal of Ceska Zbrojovka Group shares by Colt shareholders. Debevoise & Plimpton reportedly advised TXPATCH8445 Holdings, which represented Colt's shareholders in the transaction.

The shares were sold through an accelerated bookbuilding process. Colt's shareholders had acquired the CZG shares through Ceska Zbrojovka Group's acquisition of Colt, earlier this year (as reported by CEE Legal Matters on June 7, 2021).

According to Allen & Overy, “in the accelerated bookbuilding process, targeted only at selected investors meeting certain criteria, 770,057 ordinary shares of [CZG], representing 2.3% of the company’s share capital and total number of votes in the company, were sold. The offer price achieved in the ABB was CZK 476 per share and the total aggregate proceeds of the block trade was approximately CZK 366 million.”

Allen & Overy’s team included Prague-based Partner Petr Vybiral and Junior Lawyer Denisa Jonasova, US-based Partner Adam Wells, and UK-based Associate Philip Whitehead.

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