ODI Law in Slovenia and the LTA Legal Tax Audit firm in the Czech Republic have advised the Czech Ministry of Finance and IMOB and PRISKO, the Ministry's two state-owned subsidiaries, on the cross-border sale of a majority stake in VIPAP VIDEM KRSKO, the largest paper mill in Slovenia, as well as on the sale of claims against it, all to Czech-based RIDG Holding. RIDG was advised by Schoenherr.
Clifford Chance has advised investment group KKCG on the sale of its CK Fischer travel agency in the Czech Republic to German group REWE, the owner of EXIM Tours and Kartago Tours in the Czech Republic and Slovakia. Eversheds Sutherland advised the REWE Group on the deal, which has yet to be approved by the Czech office for the Protection of Competition.
Havel & Partners has advised German-based investors Thomas Noglik, Thomas Strohe, and Jochen Berger, acting through their BrainWeb Investment GmbH, Pecunalta GmbH, and Quines Capital GmbH companies, on their acquisition of a 75% stake in the VSHosting Group. CEE Attorneys advised the unidentified sellers.
DLA Piper Poland, Oppenheim, and PRK Partners have advised Metro Properties on the more-than-EUR 250 million sale and lease-back of 11 Cash & Carry stores in Poland, Hungary, and the Czech Republic to FLE GmbH, an Austrian subsidiary of French LFPI Group, investing on behalf of the AIF regulated fund. Allen & Overy, Novalia, and DLA Piper Hungary advised FLE on the transaction, which was finalized in August 2019.
It has been over a year since the European Union’s General Data Protection Regulation became mandatory across Europe, marking a seismic shift in the way that companies collect, process, and handle personal data. Countries across the European Union and beyond have adapted their national laws to meet the requirements of the GDPR – with many introducing local derogations as permitted by the GDPR.
Schoenherr, working with lead counsel Kirkland & Ellis, has advised Apax Partners on its acquisition of a majority stake in the ADCO Group. The ADCO Group’s shareholders were advised by King Wood & Mallesons on the transaction, which remains subject to regulatory approvals and is expected to close by the end of the year.
I am often asked by my foreign colleagues and clients about how the Czech Republic is doing, and my answer is that we are doing fine. Putting aside the political situation, which is similar to many other countries, economically we are doing very well; there was strong GDP growth of 4.6% in 2017 and almost 3% last year. Part of this growth is clearly attributable to our strong, maturing startup and investor community, which is pushing the country forward. Czechs have a talent for improvisation and finding solutions that work well, using innovation, research and development, and technology. We have invented many tools that have changed the world in fields such as nanotechnology, chemistry, and engineering. At the same time, we now have a pool of investors who are able to invest in new startup companies and back up the research and development that is done.