18
Wed, Sep
27 New Articles

In our new Marketing Marketing feature, introduced in this issue, we ask our law firm marketing and business development friends across CEE to share their experience and perspectives on their profession. The premier question is a simple one: If you had three more hours in the day at work, what one part of your job would you prioritize in that extra time?

In “The Buzz” we interview experts on the legal industry living and working in Central and Eastern Europe to find out what’s happening in the region and what legislative/professional/cultural trends and developments they’re following closely. Because the interviews are carried out and published on the CEE Legal Matters website on a rolling basis, we’ve marked the dates on which the interviews were originally published.

Norton Rose Fulbright has advised Inter Cars S.A. and its group companies on a PLN 1.1 billion loan facility. Clifford Chance, working with Tark Grunte Sutkiene (TGS), Divjak, Topic & Bahtijarevic (DTB) and Montanios & Montanios, advised Bank Pekao S.A. (agent), mBank S.A. (security agent), and  Bank Handlowy w Warszawie S.A. (Citi Handlowy), ING Bank Slaski S.A., Bank BGZ BNP Paribas S.A., DNB Bank, and Caixa Bank as mandated lead arrangers on the facility.

KSB has assisted Cypriot company Gramexo PLC on its issuance of discounted certificates in the value of approximately CZK 1.4 billion. Gramexo owns 100% of Rustonka Development s.r.o.— a company established for the construction of a complex of several office buildings with a total area of approximately 37,000 square meters on land formerly occupied by the Rustonka factory in Prague-Karlin.

A&O has advised Asahi Group Holdings, Ltd. on its share purchase agreement with Anheuser-Busch InBev to acquire businesses formerly owned by SABMiller Limited (formerly SABMiller plc) in the Czech Republic, Slovak Republic, Poland, Hungary, and Romania and other related assets that were owned by SABMiller prior to its combination with AB InBev. The transaction has an enterprise value of EUR 7.3 billion, subject to customary adjustments. Freshfields Bruckhaus Deringer advised AB InBev on the deal, as well as on its combination with SABMiller and across the related disposal commitments made to competition authorities.

Kinstellar has advised on the Czech aspects of the divestment of Xella, a leader in building solutions, to an affiliate of US private equity group Lone Star in a deal valued at EUR 2.2 billion. Among the many other firms working on the deal were Gibson, Dunn & Crutcher and Millbank, Tweed, Hadley & McCloy for Xella and Hengeler Mueller and Kirkland & Ellis for Lone Star.

Schoenherr has advised ContourGlobal erneuerbare Energie Europa GmbH ("ContourGlobal"), a subsidiary of the US entity ContourGlobal L.P., on the sale of its solar energy business in the Czech Republic to China Central and Eastern Europe Investment Co-operation Fund SCS SICAV-SIF (the "China-CEE Fund") via CEE Equity Partners Ltd. Dentons advised CEE Equity Partners on the deal.

PRK Partners has advised the Czech town of Kromeriz on the preparation and conclusion of a shareholders agreement between it, nearby town Morkovice-Slizany, and the Czech municipalities of Drinov and Zborovice — which combined hold a majority shareholding in VAK Kromeriz (a water utility company providing services to more than 100,000 persons and companies) — securing their majority position and control over the utility for the next 30 years. The project value is CZK 1.2 billion.

For Erwin Hanslik, the Managing Partner of Taylor Wessing in Prague, one subject of conversation is always at the top of the list for lawyers in the Czech Republic: Fees. According to Hanslik, “the topic which is always interesting is the price — the hourly rates.” Hanslik explains that this is “a special topic in the Czech Republic due to the high amount of competition here,” which, he insists, “is not comparable to anywhere else in CEE. Absolutely.” 

Had one taken a look at the employment laws in, say, Germany or France in 1989 and compared them to the then Czechoslovak Labor Code, one would have been surprised: The law in formerly Socialist countries was so pro-employer that it looked like a capitalist law from the 1920s.

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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