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CMS Advises Kreditech on Sale of Czech Subsidiary

CMS Advises Kreditech on Sale of Czech Subsidiary

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CMS has advised Kreditech Holding SSL GmbH on the sale of 100% shares in its Czech subsidiary, Kreditech Ceska Republika, to Kancelaria Medius S.A.

Kreditech was sold via a share purchase agreement executed on December 14, 2017 in Prague, with the final post-signing covenant fulfilled on June 30, 2018.

Kreditech ⎯ a German financial services company headquartered in Hamburg ⎯ serves clients in Russia, India, Spain, and Poland. According to CMS, “its product offering includes installment and point of sale consumer loans, and it uses a new approach to credit underwriting purely based on alternative data and machine learning.”

CMS’s work included supporting Kreditech Holding through the entire process of selling its Czech operations, starting with preparing and negotiating the share purchase agreement (which was governed by Polish law) together with the share transfer agreement under Czech law, as well as other post-signing actions related to the transaction on the Polish and Czech markets.

The CMS team was coordinated by the Warsaw CMS Corporate team, which was led by Counsel Rafal Kluziak, supported by Lawyer Jakub Szczygiel. CMS Prague Partner Pavla Kreckova and Senior Lawyer Lucie Hallova assisted on Czech law aspects. Supervision was provided by Warsaw-based Partner Jakub Marcinkowski.

CMS did not reply to our inquiries. 

 

Czech Republic Knowledge Partner

JŠK, advokátní kancelář, s.r.o. (JŠK) is a medium-sized law firm based in Prague providing a comprehensive range of commercial legal advisory services in the Czech Republic. Our team consists of almost 30 lawyers, five of whom are partners with many years of experience from leading international law firms. We advise local and international clients from banking, insurance and various industry sectors, boast a respected projects practice, and work for the public sector at the federal and municipal level.

Ever since it was founded in 2004, JŠK has striven for the epitome of professionalism, expertise and ethical integrity. We continuously seek to surpass what large global law firms can offer and to give our clients a personal approach. All mandates are equally important to us regardless of size as we guide clients through both complex and seemingly routine matters.

Our clients turn to us for advice when implementing their business plans across all areas of commercial law. We are proud members of PONTES: the CEE lawyers, a unique network of law firms through which we provide services not only in the Czech Republic but also in Austria, Bulgaria, Hungary, Poland, Romania and Slovakia.

Firm's website: http://www.jsk.cz

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