Business that considers environmental and social aspects alongside economic results and is managed in a transparent manner – this is the goal of the ESG framework, which has recently gained much attention. A survey carried out by the prestigious Czech research agency Ipsos for our law firm indicates that this is an issue that is currently being addressed by more than 75% of Czech companies and businesses. Although for the time being ESG obligations apply mainly to companies in the banking and financial sector, it is envisaged that these obligations will be extended to all large, and selected medium-sized, companies in the future. We have discovered that seemingly over half of the companies in the Czech Republic would be inclined to use the services of professionals from law firms or consultancies to implement successful ESG solutions in such a case.

Cytowski & Partners has advised both Talkbase and J&T Ventures on Talkbases' USD 2 million pre-seed financing. Linkers Legal advised J&T Ventures as well.

Allen & Overy has advised Eurowag on a strategic partnership through the acquisition of a minority stake in the JITpay Group. Reportedly, Germany-based Compleneo advised the JITpay Group.

Kocian Solc Balastik has advised J&T Banka on the CZK 1 billion increase of Rohlik Group's bond issuance.

A draft amendment to the Czech Labour Code, to transpose European legislation into the Czech legal system, is currently being considered by Czech ministries. As the amendment introduces significant changes that will affect almost all employers, allow us to present you with a brief summary of at least the most important ones.

Baker McKenzie has advised Energeticky a Prumyslovy Holding on its acquisition of all shares in the Dutch PZEM Energy Company and PZEM Pipe and 50% of shares in Sloe Centrale Holding from PZEM. NautaDutilh advised PZEM.

Dentons has advised Komercni Banka and Ceska Sporitelna on the EUR 715 million refinancing of the Eurowag Group. White & Case advised Eurowag.

PwC Legal has advised Orlen Unipetrol on the acquisition of Remaq. Havel & Partners advised Libor Vecera, Renata Vecerova, and Dieffe SRL on the sale.

The Czech Act on Ultimate Beneficial Owners (the "UBO Act") has been effective since 1 June 2021. Not even a year and a half later, Czech lawmakers introduced an amendment to the UBO Act (the "Amendment") after significant pressure from the European Commission to comply with the Fifth Anti-Money Laundering Directive ("AMLD5").

Havel & Partners has advised Skoda Auto in resolving disputes over the use of the Skoda sign with engineering companies from the Skoda Group.

PRK Partners Advises Ceska Sporitelna, Komercni Banka, and UniCredit Bank Czech Republic and Slovakia in the sale of bonds issued by EPH Financing.

Penteris, HKV, and Oppenheim have advised Immofinanz on the acquisition of a retail property portfolio from the CPI Property Group for EUR 324.2 million. Reportedly, BPV Braun Partners advised Immofinanz as well.

With instability and uncertainty both in the political and economic spheres, the Czech Republic is preparing for a new wave of restructuring and insolvency procedures, according to Dentons Partner Jiri Tomola.

Former KPMG Lawyer Romana Szutanyi has joined Rowan Legal as Head of Employment.

Europe is awaiting the evolution of cybersecurity. On 3 May 2022, the Council and the European Parliament agreed on the so-called NIS 2 Directive (Directive on measures for a high common level of cybersecurity across the Union). NIS 2 repeals the currently effective NIS Directive.

PwC Legal has advised AMiT Holding co-founders and co-owners Michal Prerovsky, Martin Vosahlo, and Karel Ludvik on their sale of a 70% stake in AMiT Holding to Central Europe Industry Partners. Rowan Legal advised CEIP on the acquisition.

Kocian Solc Balastik has advised the Passerinvest Group on its acquisition of Prague’s Gamma office project from Immofinanz. Wilsons advised the seller.

Clifford Chance has advised Actis on the launch of its portfolio business Rezolv Energy and on Rezolv's acquisition of the Romanian Vis Viva onshore wind project from Low Carbon.