Dvorak Hager & Partners has announced that it has become a partner of the Ronald McDonald House foundation.
CMS has advised MOL Plc. (“MOL”), the integrated international oil and gas company headquartered in Budapest, on a EUR 615 million revolving credit facility provided by a group of ten banks. Dentons advised the banks on the facility, which was coordinated by BNP Paribas and Erste Group Bank AG, with Erste Group Bank AG acting as the Facility Agent.
BBH has announced that is has acted as advisor to Allianz Pojistovna, a.s. in connection with its merger with two Wustenrot insurance companies (Wustenrot Pojistovna, a.s. and Wustenrot, Zivotni Pojistovna, a.s.) with the two Wustenrot entities being merged into Allianz Pojistovna. According to BBH, this is the first-ever merger of three insurance companies in the Czech Republic.
Zdenek Tomicek, Partner in the Czech office of CEE Attorneys, turned first to the intended amendment to the Execution Procedure Act proposed by the Czech Ministry of Justice, which could oblige creditors to provide monetary guarantees of costs of the Court Executor in the proceedings — which would then be forfeited if execution turned out to be impossible.
Four firms in Central and Eastern European — Pepa & Dobre from Romania, JebwabnyLegal from Poland, Krutak & Partners from Czech Republic, and DKKR Partners from Hungary – have joined forces to create Arcliffe, which they describe as "a premiere legal practice in CEE.” Together, the firm claims 40 lawyers, including 18 partners.
White & Case has advised an investment vehicle advised by Macquarie Infrastructure and Real Assets (MIRA) on its EUR 79 million acquisition of a 132,000 square meter portfolio of four logistics and light industrial assets in the Czech Republic and Slovakia from joint sellers HB Reavis Group and HB Reavis CE REIF fund, each of which held two assets.
White & Case has confirmed that Partners Michael Smrek and Damian Beaven, along with Local Partner Ales Zidek, are leaving the firm’s Prague office to join R2G, which White & Case describes as "a family office established by Oldrich Slemr, a former shareholder of Ceska Gumarenska group, a major global industrial tire manufacturing business.”
Similar to most countries in the CEE region, the Czech market is in a growing phase. After the economic downturn during 2009-2011 and slow growth in the embarrassing years of 2012 and 2013, we witnessed a change to a positive, optimistic mood in 2014 and 2015, which has led into an almost frantic buying mode in 2016.
Dvorak Hager & Partners has advised GrECo JLT, a leading CEE insurance broker and consultant, on the sale of the Top-Pojisteni.cz insurance comparison portal to Ceskoslovenska Obchodni Banka, a.s. (CSOB). CSOB was advised by Glatzova & Co. on the deal.
“The guys in the Central European group were a really collegial group and we really enjoyed what we did and truly felt we were making a difference, and we had good clients, and the results were really gratifying. So it was a very good, unique core group of people who were fully committed to Central and Eastern Europe at a historic time.” – Obie Moore
The Clifford Chance Prague Corporate team has advised ASSA ABLOY, which it describes as "the international market leader in door opening solutions operating in more than 70 countries,” on the successful conclusion of an agreement for the sale of its global car lock business to Alpha Corporation, a Japanese manufacturer of lock and key products for the automobile, housing, and industrial sectors. Allen & Overy represented Alpha on the deal. The sale remains subject to regulatory approval and is expected to close in the second quarter of 2016.