Category: Czech Republic

Allen Overy Shearman Sterling has advised Doosan Skoda Power on its CZK 2.53 billion initial public offering on the Prime Market of the Prague Stock Exchange. Clifford Chance advised the joint global coordinators Raiffeisen Bank and Wood & Company.

Doosan Skoda Power is a steam turbine manufacturer with roots dating back to 1869. It has been a subsidiary of Doosan Group since 2009. 

According to A&O Shearman, the offering comprised 6.67 million existing shares sold by Doosan Power Systems and 2.9 million newly issued shares, with an overallotment option of 957,000 shares fully exercised, and included a discounted share offering to employees. 

“This IPO is a key step in our growth strategy,” commented Doosan Skoda Power CEO Youngki Lim. “It enables us to strengthen our market position and support our plans for innovation and development.”

The A&O Shearman team included Prague-based Partner Petr Vybiral, Associate Denisa Jonasova, and Junior Lawyer Jan Vlcek with further team members in the UK and Luxembourg.

The Clifford Chance team in Prague included Managing Partner Milos Felgr, Counsel Dominik Vojta, Senior Associates Hana Cekalova and Vladimir Rylich, and Junior Lawyer Lukas Ljubovic as well as further team members in London.

Eversheds Sutherland has advised Orbian on its acquisition of Platebni Instituce Roger from KB SmartSolutions and other shareholders. BPV Braun Partners advised one of the selling shareholders, Echilon Capital.

The transaction remains contingent on regulatory approval. 

British financial institution Orbian was founded in the late 1990s as a project of SAP and Citibank.

According to Eversheds Sutherland, Roger is a fintech start-up focused on shortening long invoice maturities and financing the supply chains of large companies. “Since its founding, it has funded over CZK 40 billion worth of invoices, making it one of the largest companies of its kind in Central Europe.” 

The Eversheds Sutherland team included Counsel Michal Hrabovsky, Principal Associate Lola Florianova, Senior Associates Barbora Waczulik and Barbora Bugova, Associates Lenka Vavrichova and Petr Kucera, and Junior Associate Jakub Bystron.

The BPV Braun Partners team included Partner Ondrej Ponistiak.

Editor’s Note: After this article was published, Dentons announced that it advised seller KV SmartSolutions on the deal. The firm’s team included Partner David Simek, Associate Katerina Kucerova, and Junior Associates Krystof Vrtek and Dusan Korbel.

With preparations for the 2025 CEE General Counsel Summit in full swing, PRK Partners’ Partner Roman Pecenka shares his thoughts about the upcoming event and what he’s looking forward to the most.

CEELM: Why did PRK Partners decide to participate in this event?

Pecenka: It’s actually quite simple. We’ve been knowledge partners with CEE Legal Matters for several years now, so we know CEELM very well. All the past events you’ve organized have always been highly professional, ensuring maximum satisfaction for attendees – something that’s very important to us. Plus, the fact that it’s taking place in Prague is a big draw for us. As a firm with a strong focus on international markets and a lot of international clients, it’s a natural fit for us to be part of this regional conference. And, of course, whenever there’s an opportunity to engage with general counsel, it’s always of interest to us. We want to understand their needs, stay on top of current trends, and make sure we’re speaking the same language they expect from us.

CEELM: Since we’re talking about GCs, what kind of discussions are you most looking forward to?

Pecenka: I’ve seen part of the agenda, and from what I’ve heard, it’s similar to past events – focused on understanding as much as possible about the trends and current needs of GCs. We’re also interested in how we can align our services to meet their expectations. It’s become a habit for us to propose solutions that are tailored to their needs, and it’s always great to get feedback on whether we’re hitting the mark or if there’s room for improvement. Whether we’re speaking with Czech or international firm counsels, it’s always valuable to gain that deeper understanding.

CEELM: And what are the main topics you’re looking forward to being discussed?

Pecenka: I expect the topics will cover different business sectors. They’ll likely be a bit more general, focusing on common challenges faced by international global players – things like sustainability, ESG, migration and HR topics, and so on. These are areas of shared interest, and it’s always useful to hear how others are approaching them.

CEELM: What aspect of the event are you most looking forward to, and why?

Pecenka: It’s always great to meet new people and make new connections, as well as reconnect with those we haven’t spoken to in a while. It’s also nice to interact with our clients in a different setting – outside the usual day-to-day. Of course, the program itself is of interest to us, too. We’re always keen to see if our approach and perspective on various topics align with those of other countries and lawyers. It’s reassuring to know we’re on the right track and heading in a good direction.

CEELM: What would you say is the main unique selling point of this event?

Pecenka: The opportunity to meet new people, share ideas, discuss challenges, and exchange best practices and experiences is invaluable. Face-to-face meetings are always the most rewarding – they’re not just productive but often a lot of fun too. I’m also looking forward to the CEE Deal of the Year Awards banquet. There’s something special about the atmosphere when everyone’s dressed up, and it’s a great way to wrap up the conference.

Recently, more and more European environmental regulations have been issued, that are directly binding and applicable, with the aim of achieving a circular economy and climate neutrality within a specified period.

These regulations include, for example, Regulation 2023/1542 on batteries and waste batteries, adopted in summer 2023, which regulates all phases of the life cycle from production, first placing on the European market, obtaining a certificate of conformity, use, extended producer responsibility, labeling including the digital passport, waste treatment of batteries, minimum quantities of materials to be recovered from waste batteries and minimum quantities of recycled material for the production of new batteries. The regulation will be applied step-by-step, but some of the obligations are already applicable since 2024, particularly for manufacturers.

An important change is also contained in Regulation 2024/1781 on the establishment of ecodesign requirements for sustainable products, which came into force in July 2024. The regulation applies to all material products with the exception of those explicitly mentioned therein (such as food, animal feed, pharmaceuticals). The aim of the regulation is to improve aspects such as the durability of products, their reusability, reparability, energy efficiency, the recycled content of the product, recyclability, expected waste generation, etc.

Regulation 2024/1735 establishing a framework of measures to strengthen the European ecosystem for the production of emission-neutral technologies, the Net-Zero Industry Act – NIZA, has also been in force since the end of June 2024. Such technologies include various types of renewable energy, batteries, hydrogen, nuclear energy technologies and carbon capture and storage (CCS). Europe has set itself the goal of these technologies reaching production capacities of at least 40% of the EU’s annual technology needs to meet its climate and energy targets by 2030. The administrative procedures for granting permits for these technologies will be simplified and accelerated.

The above-mentioned regulation complements Regulation 2024/1252, which creates a framework to ensure a secure and sustainable supply of critical raw materials, focusing on raw materials, their extraction, processing and recycling. The regulation covers both strategic and critical raw materials (e.g. copper, cobalt, lithium, nickel, phosphorus, magnesium, manganese, etc.). It requires a significant increase in recycling capacity so that the EU will be able to produce at least 25% of the annual consumption of strategic raw materials in the EU by 2030. Permits for these plants will also be granted more quickly and easily.

One of the most recent and expected legal acts is the Regulation 2025/40 on packaging and packaging waste which enters into force in the next days and will apply from 12 August 2026. It regulates the obligations of packaging producers, importers, distributors, including final distributors, but also logistics service providers. Packaging placed on the European market will have to comply with new obligations, e.g. all packaging must be recyclable, plastic packaging must contain minimum percentage of recycled content, weight and volume of the packaging must be reduced (no doble walls, false bottom, …). Member states must follow new targets: packaging waste generated per capita must be reduced, as compared to 2018, by 5% by 2030, 10% by 2035 and 15% by 2040; and at least 65% of the weight of all packaging waste must be recycled by the end of 2025 and at least 70% by the end of 2030.

By Annamaria Tothova, Partner, Eversheds Sutherland

Former Metrostav in-house Counsel Hana Nevralova has joined JSK as a Partner. At the same time, the firm elevated former Managing Associate Daniel Pospisil to its partnership ranks as well.

Nevralova’s key areas of focus are construction law and public procurement. Before joining JSK, she spent more than 12 years with Metrostav as an in-house counsel, since 2012. Earlier, she was an Associate with Norton Rose Fulbright between 2006 and 2012 and, earlier still, an in-house counsel with Telefonica between 2004 and 2006.

Pospisil has been with JSK since 2013 when he joined the firm as a Paralegal. He was promoted to Junior Lawyer in 2015, to Senior Associate in 2019, and to Managing Associate in 2024. His areas of expertise include banking and finance, mergers and acquisitions, and real estate law. 

“Choosing the right Partner for life is important,” said JSK Partner Roman Kramarik. “Similarly, selecting the right Partner for a firm is just as crucial. While we may not be building a house or raising children together, commercial law presents its own set of challenges. And it’s always more rewarding to face those challenges with others by your side. In law, the common notion that businesses should have an odd number of partners, and that three is too many, simply doesn’t apply. I’m truly happy that Hana and Daniel accepted our invitation to become Partners at JSK. I am confident that their new roles will be valued by our colleagues and clients alike.”  

“When I first joined the firm, Roman told me, ‘Welcome to the rest of your life,’” added Nevralova. “I hope this chapter of my life will be long, filled with interesting work, and that, when I look back, I will be proud of what I see.”

“Becoming a Partner at JSK, where I started as a student, is not only a great honor but also a huge challenge and motivation for me moving forward,” added Pospisil. “I believe I will meet expectations and contribute to the further growth of our firm.”

Weinhold Legal and Cytowski & Partners have advised Czech Republic-based technology company ThreatMark on its series A financing round, securing an investment exceeding USD 23 million from London-based Octopus Ventures and The Riverside Company investment firm. Dentons’ New York office reportedly advised Octopus Ventures. DLA Piper’s New York office reportedly advised The Riverside Company.

ThreatMark focuses on behavioral analysis and fraud prevention in digital banking. According to Weinhold Legal, “the funds will be used to strengthen technological innovation and expand operations in key markets, including the United Kingdom and the USA.”

The Weinhold Legal team included Solicitor Pav Younis, Associate Jakub Nedoma, and Junior Associates Matej Novak and Tomas Novak.

The Cytowski & Partners team included Partner Tytus Cytowski and Associates Eresi Uche, Fabiana Morales Centurion, Heidi Fan, and Kunal Kolhe.

Editor’s Note: After this article was published, Dentons announced that it advised Octopus Ventures. The firm’s team included Prague-based Partner David Simek and Associates Katerina Kucerova and Dusan Korbel as well as further team members in New York.

Havel & Partners, working with Gomez-Acebo & Pombo, has advised the Czech Republic-based industrial group Advanced Industrial Technology Group on establishing a joint venture with the Spanish shareholders of Egile Corporation. Euskaltax reportedly advised the Egile Corporation.

The AIT Group specializes in investing in industrial technologies.

Egile Corporation, headquartered in the Basque region, develops and produces predominantly aerospace components.

The Havel & Partners team included Partner Jan Koval, Managing Associate Ivo Skolil, and Associate Jiri Moravec.

Today, the Chamber of Deputies approved in the third reading an amendment to the Legal Profession Act. The amendment brings a number of significant changes to the practice of the legal profession in the Czech Republic.

 Robert Němec, the Chairman of the Czech Bar Association and also partner of PRK Partners, was instrumental in promoting this significant legislative change. His high level of professionalism, expert knowledge and perseverance contributed to the successful adoption of the key points of the amendment.

The most significant changes include:

• the enshrinement of the attorney-client privilege
• the possibility to participate in the assembly remotely and to hold online elections to the Bar’s bodies
• tightening of the rules for attorney escrows, including the introduction of a special escrow account
• the establishment of a guarantee fund for the compensation of victims of crimes committed involving attorney escrows
• the possibility of trainee attorneys to practice on a part-time basis

This amendment is the result of long-term efforts of the Czech Bar Association and represents a significant step forward for the legal profession in the Czech Republic.

By Sona Rampulova, Business Development Manager, PRK Partners

Cerha Hempel has advised Sony Music Entertainment on its acquisition of Supraphon.

According to Cerha Hempel, the deal involves Supraphon’s catalog of over 130,000 recordings. With Supraphon’s catalog under its umbrella, SME solidifies its position as a prominent player in Central Europe’s music industry. 

The Cerha Hempel team included Managing Partner Petr Kalis, Senior Associate Marek Smula, and Associate Martina Soukupova.

Cerha Hempel did not respond to our inquiry on the matter.

Clifford Chance has advised Ares Management Real Estate Secondaries funds on its joint venture with Cedar Capital Partners and on the European Hotel Portfolio recapitalization by the joint venture.

According to Clifford Chance, the portfolio consists of “five leading lifestyle hotels in European gateway cities and will be owned by Cedar Investment Partners III SCSp, a Cedar-managed fund.”

The Clifford Chance team included Prague-based Partner Emil Holub, Counsel Milan Rakosnik, Senior Associate Tereza Rehorova, and Associate Ondrej Dolensky as well as further team members in London, Luxembourg, Amsterdam, and Milan.

Clifford Chance could not provide additional information on the matter.