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CMS Advises Kreditech on Sale of Czech Subsidiary

CMS Advises Kreditech on Sale of Czech Subsidiary

Deals and Cases

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

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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