PRK Partners has advised RWE on the sale of its subsidiary RWE Gas Storage CZ to the CEPS state-owned electric power transmission system operator. EY Law reportedly advised CEPS.
While international private equity players still dominate blockbuster deals in CEE, locals and regional players are gaining more and more ground – especially in terms of volume. PRK Partners Co-Head of Corporate and M&A Practice Group Milan Sivy, Tuca Zbarcea & Asociatii Managing Partner Gabriel Zbarcea, and Avellum Managing Partner Mykola Stetsenko provide an in-depth analysis of the PE landscape in the Czech Republic, Romania, and Ukraine.
PRK Partners has advised the shareholders of Czech ticketing portal GoOut on its sale to the Piletilevi Group.
PRK Partners has advised lead co-managers Ceska Sporitelna, Komercni Banka, J&T Banka, and UniCredit Bank Czech Republic and Slovakia on Czechoslovak Group’s CZK 4.5 billion bond issuance, which contains an option of an increase up to CZK 5 billion.
PRK Partners has advised the Electrostar Group on setting up its operations in the Czech Republic – including the acquisition of an industrial site in the Pilsen Region.
On February 9, 2023, the Committee on Industry, Research, and Energy voted in favor of a revised Energy Performance of Buildings Directive (EPBD), which is a part of the EU’s new extensive climate and energy legislation known as “Fit for 55”. The main objective of the revised EPBD is to reduce greenhouse gas emissions and the overall energy consumption of buildings by 2030 with the eventual goal of reaching climate-neutral buildings in the EU by 2050.
BPV Braun Partners has advised Creditas company UCED on its investment in the expansion of the Prostejov steam power plant in the Czech Republic. PRK Partners reportedly advised the financing bank.
Governance is primarily covered in the ESRS G1 Business Conduct section of the European Sustainability Reporting Standards framework (ESRS, November 2022 draft). Requirement G1-1 represents one of its six main areas. In this article, we cover the information required for reports under the G1-1 Corporate Culture and Business Conduct requirement.
Prague-based Attorneys Tomas Bures and Jan Varecha and Bratislava-based Attorney Eva Hromadkova have been appointed as Associate Partners at PRK Partners.
A draft of a preventive restructuring act is being discussed in the Czech legal environment to implement the EU directive on restructuring and insolvency (directive (EU) 2019/1023). The aim of the new legal regulation is to introduce an out-of-court restructuring model with shorter times to improve operations and the balance sheets of debtors in financial difficulties. Different forms of out-of-court restructuring are common and frequently used in many foreign jurisdictions, e.g. arrangements in England and Wales. Unlike insolvencies, in preventive restructuring the court is a “mere” supervisor supported by the restructuring trustee in certain situations.
PRK Partners has successfully represented the interests of a client who completed a gender transition process in a matter regarding the issuance of official documents bearing the applicant's new personal data before the Supreme Administrative Court.
At the end of September 2022, the European Commission (EC) published the long-expected proposals for legal regulation on civil liability for damage caused with the involvement of artificial intelligence (AI Liability) and liability for damage caused by a defective product (Product Liability). Whereas a proposal on AI Liability already existed (Civil liability regime for AI, published by the European Parliament in 2020), this is the first draft of an updated Product Liability.
There is a growing concern, across CEE, about a potential wave of insolvency and restructuring proceedings. Given the economic aftermath of COVID-19, coupled with the ramifications of rising inflation and interest rates, energy crisis concerns, and the war in Ukraine – the road ahead seems bumpy at best.