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MCL has advised the Euromax Group on the sale in the summer of 2018 of the City Arena Shopping Mall in Trnava, Slovakia, to Trenesma, controlled by sole shareholder Peter Korbacka. The Relevans law firm advised the buyers on the deal. Financial details were not disclosed.

Clifford Chance has advised Ceskoslovenska Obchodni Banka, a. s., as mandated lead arranger, facility agent, security agent, and underwriter on the initial finance documentation and in relation to subsequent syndication and transactional closing with Ceska Sporitelna, a.s. and the EBRD on  financing provided to Karlovarske Mineralni Vody's for its acquisition of PepsiCo's assets and operations in the Czech Republic, Slovakia, and Hungary. Kocian Solc Balastik advised KMV on the financing and on the underlying acquisition, and represented KMV in proceedings before the Czech Competition Authority.

Things are good in Slovakia at the moment, reports Martin Jurecko of MCL, who starts his provision of The Buzz by referring to recent celebrations related to the 100th anniversary of Czechoslovakia’s First Republic, including a national holiday on October 30th.

Alongside blockchain and crypto currencies, the Payment Services Directive 2 (PSD2) has become a much talked-about buzzword in the FinTech world - sparking discussions about a revolution in banking and financial services. One may argue that disruption to established practices may only result from technological advancement and not from (yet another) massive bundle of regulatory rules. However, through PSD2, the shift towards open banking is being fostered by the European legislator to support innovation and improve competition in the payment services area.

After undergoing healthy levels of Corporate/M&A activity in recent times, as we move towards 2019 we expect the Slovak market to remain stable. A notable exception, however, is in the logistics asset class, where we project inbound investment to soar.

The demand for residential real estate is currently experiencing an unprecedented boom in Slovakia. According to official market surveys, the average price of flats has already exceeded the levels recorded before the outbreak of the world financial crisis, and further price increases are expected due to lagging supply and readily available sources of cheap funding from domestic banks. Not surprisingly, these conditions have resulted in a significant increase in the indebtedness of private households, which are currently the highest in the CEE region.

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