Clifford Chance and Switzerland's Lenz & Staehelin have advised the KKCG AG investment company and pan-European lottery operator the Sazka Group on the EUR 500 million investment into the Sazka by funds managed by affiliates of Apollo Global Management. Baker McKenzie advised Apollo.
Since this spring, the Czech Republic has been struggling with the coronavirus SARS CoV-2. The response to the pandemic in the field of labour law was the creation of the so-called Antivirus programme, which aimed to mitigate the economic impact of the pandemic by providing a state-backed financial contribution to salary costs. This should prevent mass redundancies and keep unemployment levels under control. Schemes A to C of the Antivirus programme were created on an ad hoc basis as an immediate response to the negative effects of the pandemic.
The political landscape in the Czech Republic might soon see a change, Schoenherr Partner Vladimir Cizek says, as “the recent regional elections shook the position of the leading party.” Still, he doesn't expect it to have much impact on foreign investment. He notes that previous political changes have not dissuaded investors from coming to the country, and their stream has been constant for decades.
Allen & Overy’s Prague office has advised Ceska Zbrojovka Group on its initial public offering and the listing of its shares on the Prime Market of the Prague Stock Exchange. White & Case reportedly advised the joint global coordinators and joint bookrunners Ceska Sporitelna, Komercni Banka, and Societe Generale. Wood & Company Financial Services also acted as a joint bookrunner on the deal.
While the COVID-19 pandemic has caused disruption to nearly all businesses in the logistics and manufacturing sectors in Central and Eastern Europe, enough time has now lapsed that identifiable trends and opportunities are beginning to emerge. CMS Partners Ana-Marija Skoko, Ivan Gazdic, Iain Batty, and Lukas Hejduk agreed to share their thoughts about the effect of the COVID-19 crisis on logistics and manufacturing developments in their local markets and across CEE.