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Allen & Overy Advises on (Another) Disposal of CZG Shares

Allen & Overy Advises on (Another) Disposal of CZG Shares

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Allen & Overy has advised Jan Drahota, Lubomir Kovarik, and Ceska Zbrojovka Partners on the sale of part of their shares in CZG through an accelerated book-building process.

According to the firm, "Wood & Company Financial Services acted as the sole global coordinator for the transaction."

"The sellers disposed of 2,030,000 shares," Allen & Overy informed. "The transaction was upsized by two-thirds. The purchase price achieved in the accelerated book-building was CZK 555 per share, with total aggregate proceeds of the block trade of approximately CZK 1.13 billion."

CZG, the Ceska Zbrojovka Group, is a Czech company with production facilities in the Czech Republic, the US, and Canada. It produces firearms for military and law enforcement, personal defense, hunting, sports shooting, and other commercial uses.

"The offer of shares through an accelerated book-building process responds to the long-term demand of investors for our shares, which the current small free float could not meet," CZG Board Chairman Jan Drahota commented. "We believe that higher liquidity will lead to the higher interest of other investors and thus make the shares more attractive."

"We are pleased to have managed another successful transaction in CZG shares, resulting in the increase of the CZG effective free float by 6%," Wood & Company Managing Director David Tajzich added.

The Allen & Overy team was led by Prague-based Partner Petr Vybiral and included Junior Lawyer Denisa Jonasova as well as Frankfurt-based Partner Marc Plepelits and Senior Associate Rita Nicole Thomas.

Allen & Overy did not respond to our inquiry on the matter.

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