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It has been more than four years since new legislation revolutionizing Czech private law came into effect, mainly through the adoption of a new Civil Code. Among the most affected industries was real estate, traditionally a very strong investment sector on the Czech market. How has life been since this revolution?

Read more: Four Years With a New Civil Code – Where Are We Now?

Allen & Overy has advised Aegon on the divestment of its insurance businesses in the Czech Republic and Slovakia for EUR 155 million to the NN Group. The buyer was advised by Kinstellar.

Read more: Allen & Overy and Kinstellar Advise on Aegon's Divestment of Insurance Businesses in Czech...

Kocian Solc Balastik has advised Continuum Search Fund on its acquisition of exhibition stand manufacturers Best Expo and IRE — the first acquisition by a search fund in the Czech Republic. The sellers — entrepreneurs Hellen Berends and Petr Kotvas — were advised by Havel & Partners.

Read more: Kocian Solc Balastik and Havel & Partners Advise on First Search Fund Acquisition in Czech Republic

Things are pretty calm on the legislative front in the Czech Republic at the moment, says JSK Partner Tomas Dolezil, and nothing big is expected for the next few months either. "But next year,” he says, "the new government needs to prepare a number of legislative proposals. For instance, the Ministry of Finance is working on a reform of the Czech Capital Market.” According to Dolezil, “a concept is being discussed and produced, and is now waiting for some political guidance or discretion, and on this basis we expected legislative changes to be proposed next year. Among others it is expected that the changes will affect the Private Equity/ Venture Capital sector.”

Read more: The Buzz in the Czech Republic: Interview with Tomas Dolezil of JSK

On May 25, 2018, the General Data Protection Regulation finally came into effect, imposing new requirements on organizations within the European Union and on those outside the EU that offer goods or services to EU data subjects or monitor their behavior. To learn more about the state of readiness in one such country, we spoke to Schoenherr attorney and Data Protection specialist Eva Bajakova in Prague.

Read more: Gauging the GDPR in the Czech Republic

The GDPR comes into effect on May 25, 2018. Since data processing concerns a wide range of activities, very few companies or entrepreneurs will be unaffected. Numerous articles and discussions have been posted about the GDPR in the media, some of which contain false or misleading information and therefore give rise to concern, especially considering the possibility of high penalties. Failure to adopt national implementing legislation does not help the situation either. In this article we would like to highlight some of this misleading information and explain the inaccuracies.

Read more: GDPR Misconceptions

JSK has advised investment fund BHS Private Equity Fund on the acquisition of engineering company Boco Pardubice Machines from private individuals Jan Dostal, Petr Pilny, and Jan Dotzauer, with the latter staying on as a minority partner and co-investor. Havel & Partners advised the sellers in the deal.

Read more: JSK and Havel & Partners Advises on BHS Acquisition of Boco Pardubice Machines

JSK, working in cooperation with solo practitioner Pavel Suser, has advised the shareholders of James Cook Languages on the sale of 100% of the company to Vladimir Schmalz and his EDUA Group. Rowan Legal advised the EDUA Group on the acquisition.

Read more: JSK and Rowan Legal Advise on Sale of James Cook Languages to EDUA Group

Kinstellar has advised Zhejiang Huajie Investment Development Group on the leasing of 25,000 square meters of logistics space at the Panattoni Park Prague Airport II near the village of Pavlov in the Czech Republic.

Read more: Kinstellar Advises Huajie on Logistics Space Lease in the Czech Republic

Allen & Overy has advised Ceska Sporitelna, serving as dealer manager, lead manager, delivery agent, listing agent, fiscal agent, and paying agent, on exchange and tender offers and the issuance of Czech koruna-denominated and Czech law-governed domestic bonds by Czech gas transmission operator NET4GAS. White & Case advised NET4GAS on the deal.

Read more: Allen & Overy and White & Case Advise on NET4GAS Bond Issuance

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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