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White & Case Advises Avast Software on Sale to CVC Capital Partners


Czech Republic

White & Case has advised Avast Software and a selling shareholder consortium on the sale of a significant minority stake to CVC Capital Partners, one of the world's leading private equity and investment advisory firms. 

Avast Software is one of the world's major players in the antivirus market. The company provides free antivirus software which can be downloaded from the internet and its products are used on more than 200 million PCs and other devices worldwide. It sells additional, premium products to subscribers to its basic free software package.

White & Case's involvement in the deal included advising on the new US borrower financing that supported CVC's acquisition of an approximate 40 percent interest in Avast, which values the Prague-based business at around USD 1 billion.

White & Case Partner Michal Smrek, who is based in Prague and leads the firm's relationship with Avast, said: "We were very excited to support Avast again and in such an important transaction. It is another milestone in our long term relationship with this company.

Partner Ian Bagshaw, London-based co-head of the firm's private equity practice in EMEA, said: "This fantastic mandate clearly demonstrates the rationale behind strengthening our private equity capability in EMEA. White & Case was able to support Avast on a US borrower financing solution for CVC and, at the same time, represent the selling shareholders on this significant transaction. 

The White & Case team on the deal was co-led by Partners Smrek and Bagshaw, and included Partners Eric Berg, Justin Wagstaff, Ales Zidek, Damian Beaven, and Jiri Tomola, as well as Associates Jakub Zavadil, Jakub Mencl, Steven Hannah, Sevda Staykova, Marcus Booth, Charlotte Dixon, and Heather Borthwick.

Czech Republic Knowledge Partner

For more than 25 years PRK Partners has been providing top tier, comprehensive legal services in all areas of law – always at the highest professional level. The company’s offices in Prague, Ostrava and Bratislava, as well as its specialised teams of legal practitioners and tax advisors, allow PRK Partners to offer solutions to any kind of legal issues, providing an international point of view and in-depth knowledge of the respective local legal system.

The full-service law firm has worked on many of the region’s largest and most complex transactions. The firm puts emphasis on the highest standards of quality, efficiency and flexibility in its advisory services, which are tailored to the specific requirements of each client. 

Our team is composed of professionals with international education and experience. The firm frequently works on a non-exclusive basis with leading international law firms on large cross-border transactions.

PRK Partners is consistently recognised among the top law firms by leading international and domestic directories and ratings agencies and has been honoured with numerous awards: 

• National Law Firm of the Year 2016 by the Chambers Europe Awards, the most prestigious international law firm competition. This is the fifth award PRK Partners has received since the awards were first given; National Law Firm of the Year 2014, 2013 and 2010 and Law Firm of the Year 2012 for Best Client Service.

• 2018 Best Law Firm of the Year in the category of Banking &Finance and the absolute winner in the main category of the Domestic Law Firm of the Year awards organised by epravo.cz under the auspices of the Czech Bar Association three times since the award's inception (in 2016, 2013 and 2011).

• a finalist of the Central European Law Firm of the Year category in The Lawyer European Awards 2018. 

The firm has a strong commitment to corporate social responsibility and pro bono work.

PRK Partners is the exclusive member firm in the Czech Republic for Lex Mundi, the world’s leading network of independent law firms, with in-depth experience in 100+ countries worldwide. In addition, the firm is a member of Celia Alliance, AFI (Association for Foreign Investment) and CVCA (the Czech Private Equity and Venture Capital Association).

Firm's website: www.prkpartners.com

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