Dvorak Hager & Partners has hired lawyer Marek Bomba, who joins the firm as Managing Attorney. Bomba specializes in corporate, competition, and contract law.
Before joining Dvorak Hager & Partners, Bomba worked for ten years at Balcar Polansky Eversheds as a member of their Company/Commercial team, the last five as a Senior Associate. In 2011 and 2012, Bomba led that firm’s Bratislava office.
Kocian Solc Balastik is representing LEO Express before the Municipal Court in Prague in an unfair competition case against Ceske drahy (Czech Railways) — the main railway operator in the Czech Republic.
In particular, LEO Express claims that, under the Czech Act on the Protection of Economic Competition and the Treaty on the Functioning of the European Union, Ceske drahy committed predatory pricing by offering very low prices on the Prague – Ostrava route, causing damage to LEO Express in the amount of CZK 418 million (approximately EUR 15.2 million).
LEO Express is an open-access train operator set up in 2010, which launched inter-city services in November 2012 on the Prague–Ostrava route.
KSB Partner Pavel Dejl, who’s leading the firm’s team on the case, added that “the action is important for the development of a competitive environment in railway passenger transport not only in the Czech Republic but in the European Union as a whole. The goal is to remedy the damage that CD, as holding a former monopoly, has caused in trying to prevent competitive private carriers such as LEO Express from entering the market and competing without EU subsidies.”
Wilson & Partners has announced the successful completion of the sale of the Balabenka Office Building in Prague by Skanska Property to the CIB Group.
The price of the transaction was not disclosed. Wilson & Partners has undertaken some leasing of the building, and also acted on behalf of Skanska on the sale, along with Cushman & Wakefield.
Balabenka is located between Prague 8 and 9, two rapidly-developing parts of the city. The seven-story building provides 13,000 square meters of leasable office/retail space, and has an 81 percent occupancy rate. The building’s anchor tenants are Komercni Banka, CSOB, and Air Telecom. Skanska Property Czech Republic acquired the building, formerly known as Vysocanska brana, from ORCO, in 2010.
The Czech Weinhold Legal law firm has advised the Greek Sarantis group on its acquisition of the Czech Astrid cosmetic brand. The Sarantis group is a leading European cosmetics and household products manufacturer.
Astrid — founded in 1847 — is a traditional Czech producer of skin-care products used for health and beauty of facial and bodily complexion with emphasis on sunbathing, foot-care, and lip-care products. According to the Astrid website: “Without exaggeration it can be said that Astrid, with its famous name, has maintained its place among the top manufacturers of cosmetics brands and its star continues to shine in the heavens of cosmetics with undiminished strength.”
The Weinhold Legal team was led by Partner Daniel Weinhold, in cooperation with Of Counsel Dusan Kmoch, attorney Ondrej Havlicek, and others.
The Dentons Prague Real Estate team has advised Avestus Capital Partners, a leading international private equity real estate group, on the sale of the Four Seasons Hotel in Prague to Northwood Investors.
Avestus has been the asset manager of the hotel since 2001 and is being retained in this role by Northwood. Four Seasons is a luxury, 5 star hotel located in the city’s Old Town, close to Prague Castle and the Charles Bridge. According to Dentons, the hotel “unites the styles of four architectural periods – baroque, classical and renaissance, all interconnected by a modern building.”
The Dentons team was led by Partner Jiri Strzinek, the Co-Head of the Prague Real Estate Group, and included Counsel Jennifer Foss and several unnamed associates. Strzinek commented that: “We were thrilled to be part of this transaction for such a prime real estate asset as the Four Seasons Hotel. This was the third high-profile transaction in the hotel sector in Prague that Dentons was recently involved in – the others were the sale of the Kempinski and the Intercontinental hotels.” Avestus is a long-standing client of the firm, and Dentons’ Prague team previously advised the company on a number of transactions, most recently on the sale of its shares (together with AFI) in a company owning the Palac Flora shopping center in Prague to Atrium European Real Estate Limited.
Havel, Holasek & Partners has issued a statement formally welcoming the team of lawyers joining from the Prague branch of Norton Rose Fulbright, which closed on May 1, 2014.
As reported by CEE Legal Matters on April 24, the arriving team is led by Partner Pavel Kvicala, who specializes in mergers and acquisitions, corporate law, real estate, banking and financial law, and export finance. Joining Kvicala are lawyers Richard Novak (mergers and acquisitions, corporate law, and export financing), Albert Tatra (international financing and real estate sector transactions), Adam Reznicek (mergers and acquisitions and corporate law), and Eva Buskova (economic competition).
Clifford Chance has advised the Constellium Group on its refinancing efforts, involving a May 2014 private offering of two high-yield bonds, in both euros and dollars, and a revolving credit facility, for a total amount of over EUR 700 million.
Constellium, the global aluminum products manufacturer, benefited from guarantees granted by certain of its subsidiaries, comprising of:
a) EUR 300 million of unsecured notes maturing in 2021, at a rate of 4.625% per annum; and
b) EUR 400 million of unsecured notes, maturing in 2024, at a rate of 5.75% per annum.
Constellium was also granted an unsecured EUR 125 revolving credit facility.
Clifford Chance advised Constellium on all French, German, and Czech aspects of the transaction. The team was led by Partner Daniel Zerbeb, assisted by Partner Arne Kluwer, Counsel Julian Rocherieux, and Associates Alice Latour, Roy Charles Bates, Mortimer Berlet, Stefan Bruder, Vladimir Rylich, and Dominik Vojta.
Hogan Lovells has decided to shut down its Prague office this summer following what it calls a “review of the market.”
David Harris, global co-CEO of the firm, stated: “We have taken the decision to close the Prague office following a review of the market and our investment priorities. The partners in Prague understand the decision and are considering the possibility of the office becoming an independent local firm with an informal referral relationship with Hogan Lovells. We are very grateful to all of our people in Prague for their hard work over the years.”
In Prague, Miroslav Dubovsky, the firm’s local Managing Partner, confirmed the news: “Hogan Lovells has operated in the Czech Republic since 1991 working for both domestic and international clients. Obviously, global and local markets and priorities have changed since then. We firmly believe that we have a good practice and that there are market opportunities that we can take advantage of, including working with Hogan Lovells in the future. We look forward to the new challenges.”
While it is not yet clear what date the closure will finalize, the aim of the firm is to complete it over the course of this summer. At the moment, the office has 14 fee earners, including Partners Miroslav Dubovsky and Pavel Skopovy, and 14 support staff.
The announcement come less than a month after Norton Rose’s decision to pull out of Prague, reported by CEE Legal Matters of April 24. Of the two Norton Rose Partners in the former Prague office, Corporate Partner Milana Chamberlain will return to the firm’s London office while Czech Partner Pavel Kvicala and his team have joined Havel, Holasek & Partners.
Clifford Chance has announced that Alex Cook has been named the new Managing Partner of the firm’s Prague office, effective as of May 1, 2014.
Alex takes over from Finance Partner Vlad Petrus, who, in addition to his existing Banking, Capital Markets, and Insolvency practice, will now also focus on building the office’s growing Litigation and Dispute Resolution department.
Before joining Clifford Chance as counsel in 2005, Alex worked for Allen & Overy in London and Budapest. An English-qualified lawyer and head of the office’s Corporate practice, Cook is experienced in M&A, private equity and joint ventures. Alex has been with CC in Prague since 2007, and has been based in the region for the last 15 years.
Outgoing Managing Partner Vlad Petrus, who established the Prague office in 1995 and was elected its Managing Partner in 1997, said: “After 17 years in charge, I am looking forward to new challenges and very pleased to be succeeded by Alex. With his unique background, being a truly international lawyer yet firmly embedded in both the Czech and regional markets, Alex is well placed to lead the Prague office successfully. In doing so, he will have full support not only of myself and the other Prague partners, but also of the rest of the Firm.”
Cook is enthusiastic about the new role as well, commenting: “I am honored and excited to be assuming the role of Managing Partner at our office in Prague. Since I started in 2005 we have gone from strength to strength, building market leading practices serving clients in the Czech Republic, Slovakia, the broader CEE/SEE region and indeed globally. I aim to continue this trend, so that we lead the market in whatever we do by providing our clients with the very best service.”
Norton Rose Fulbright has announced its intention to close its Prague office on May 1, 2014.
This marks the second time the firm has closed in Prague, as it also withdrew from the Czech capital in September, 1996, before re-opening 10 years later. Corporate Partner Milana Chamberlain will return to the firm’s main office in London, while Czech Partner Pavel Kvicala and his team have agreed to join Havel, Holasek & Partners — making the largest firm in the Czech Republic even larger. In a statement on the Havel, Holasek website Founding Partner Jaroslav Havel explained the move: “The reasons for our expansion are mainly connected with the long-term plans of Havel, Holasek & Partners to extend its team of lawyers and client base in the Czech and Slovak Republics in key areas.” He added: “Joining forces with prominent Partner Pavel Kvícala and his experienced team will give us an opportunity to provide expert legal services to a number of global and local clients.”
Havel, Holasek & Partners claims to have more than 165 lawyers in its Prague, Brno, Ostrava, and Bratislava offices.