CMS has advised PPF Group on the acquisition of Bulgaria's Nova Broadcasting Group, with 95% of the shares acquired from the Modern Times Group — advised by Allen & Overy and Spasov & Bratanov — and the remaining 5% from Eastern European Media Holdings S.A.
The old Czech Commercial Code, which dated from 1991, prescribed that one third of the supervisory board of joint-stock companies with more than 50 employees must be elected by the employees. This originally brief regulation became increasingly complex, and by the time the Commercial Code was repealed thirteen years later it included detailed instructions on the matter.
Wolf Theiss has advised Munich RE Group on the sale by its ERGO Group AG subsidiary of its legal protection subsidiary DAS Switzerland and the legal protection insurance portfolios of DAS Luxembourg and DAS Slovakia to the Allianz Group. Switzerland's Homburger AG and Luxembourg's Arendt & Medernach SA law firms worked alongside Wolf Theiss. White & Case and Binder Groesswang advised the Allianz Group.
Lawyers from DLA Piper's offices in Germany, Italy, the United States, and the Czech Republic have advised Luxembourg-based private equity firm ASC Investment on its acquisition of Vitrablok, the Czech-based glass block division of the Seves Group, and on obtaining financing from RiverRock for the transaction. The sellers were advised by Giese & Partners in the Czech Republic and by LMS Studio Legale in Italy, and RiverRock was advised by TaylorWessing.
Local Partners from White & Case's Warsaw and Prague offices have joined the firm's multi-jurisdictional team advising WernerCo on its acquisition of the ZARGES Group from a consortium consisting of funds managed by Baird Capital and Granville, VR Equitypartner, and the management team of ZARGES. The purchase price was not disclosed.