11
Mon, Nov
55 New Articles

BBH and Skils Advise on Merger of PPF Group’s Air Bank and Home Credit with Moneta Money Bank

BBH and Skils Advise on Merger of PPF Group’s Air Bank and Home Credit with Moneta Money Bank

Czech Republic
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

BBH has advised the PPF Group on the merger of its Air Bank and Home Credit subsidiaries with Moneta Money Bank. Skils advised Moneta on its CZK 25.9 billion acquisition of the Air Bank Group.

The transaction remains contingent on regulatory approval.

According to Moneta Money Bank, "through the acquisition, Moneta will acquire 100% of Air Bank Group's shares from the PPF Group for a total purchase price of CZK 25.9 billion."

Founded in 1991, the PPF Group is an international investment group with operations in 25 countries across Europe, North America, and Asia. It focuses on financial services, telecommunications, media, real estate, mechanical engineering, and biotechnology.

Moneta Money Bank is a Prague Stock Exchange-listed bank. Its portfolio includes banking and financial services, insurance, building savings, investments, financing of cars, machinery, and other equipment.

"We are very pleased that the necessary majority of shareholders have agreed to the acquisition and its financing," Moneta Money Bank Management Board Chairman Tomas Spurny commented. "We believe that the acquisition of the Air Bank Group will create a strong Czech banking champion for entrepreneurs and retail customers in the domestic banking market. In this context, we will be a stable pillar of the Czech economy and an important competitor for other large banks operating in the Czech Republic, which control 70% of the domestic market. With this decision, we have created the basis for the realization of this vision."

The BBH team included Partners Petr Precechtel, Tomas Sedlacek, and Vladimir Uhde and Senior Associates Andrea Adamcova, Adam Necas, Tomas Johanna, and Kristyna Zivanska.

The Skils team was led by Partners Karel Muzikar, Karel Drevinek, and Pavel Grim and included Senior Associates Ivo Trojan, Vit Kropjok, and Adam Jaros.

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

Our Latest Issue