CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
The Czech Republic is marked by dynamic changes in the banking, finance, and technology sectors underpinned by the influence of ESG, compliance issues, and the impacts of global crises, according to PRK Partners Partner Jan Kohout, with the defense sector and strategic shifts in traditional industries making headlines as well.
On February 2, 2024, BBH announced that the Kaprain Group's acquisition of Mafra Publishing and Synthesia from Agrofert Holding (reported by CEE Legal Matters on September 7, 2023) had closed.
Dentons has helped Fulleren obtain the merger clearance from the Czech Republic’s Office for the Protection of Competition for the acquisition of the Slavia Praha football club.
Act Legal has advised Doosan Skoda Power on executing an EPC agreement with Orlen. SSW Pragmatic Solutions advised Orlen. The total value of the project exceeds EUR 125 million.
The broader online advertising sector will be affected by the EU Digital Markets Act (DMA) and Digital Services Act (DSA), even though they apply directly only to certain types of organisations, with expanded obligations on the largest organisations.
Clifford Chance has advised G City Europe Limited on the sale of the Arkady Pankrac shopping center to Trigea, a part of the Partners group. White & Case reportedly advised Trigea.
Dear readers, during the New Year's rush, it may have escaped your attention that on 29 December, the Amendment to the Medicines Act was published in the Collection of Laws, in volume 203 under number 456/2023 Coll. Barring one exception, which we discuss below, the amendment already went into effect on 1 January 2024.
Effective 1 January 2024, the Czech Energy Act (No. 458/2000 Coll.; "EA") mandates notification to the Ministry of Industry and Trade for both direct and indirect acquisitions of elements of energy critical infrastructure. The parties will be under a standstill obligation until the transaction is cleared. Notably, the triggering event is set to 10 % of shares or voting rights or even lower. Let's take a closer look at the new transaction review feature.
Regulation (EU) 2023/956 of the European Parliament and of the Council of 10 May 2023 (the “Regulation”) establishes a carbon border adjustment mechanism. The Regulation imposes new obligations on importers of selected goods from third countries into the EU. The aim of this article is to help entrepreneurs identify whether the Regulation applies to them and, if so, what are the most important obligations it imposes on them.
CMS has advised Komercni Banka on its financing for the acquisition of the Mercedes Benz Praha car dealerships. Badokh reportedly advised the borrower – the RCM Group.
A long-awaited amendment to the Czech Medicines Act came into force on 1 January 2024. What practical impact will it have?
On 1 January 2024, an amendment to the Labour Code came into force that introduces final liability of the construction contractor for wage claims filed by third parties against its subcontractors. This includes wage claims from any employment agencies, up to the amount of the statutory minimum wage for each employee engaged in activities for the subcontractor.
Last year's "digital amendment" introduced many changes to Czech corporate law. But one change that is often overlooked is the amendment to the Czech Public Registry Act.
CEE Attorneys has advised the BPower Group on the sale of BPower to Bitzer.
Anticipated completion of the European NIS2 Directive's integration into Czech law is set for late 2024, facilitated by the new Czech Cybersecurity Act (CSA) and associated decrees. This legislative shift will impact an estimated 6,000 to 10,000 Czech companies, formerly exempt from cybersecurity regulations, necessitating the adoption of measures for compliance. Since the CSA is a complex legal regulation, it is advisable to engage a spectrum of experts, extending beyond IT to include legal and compliance professionals, in this transformative process.
Former PRK Partners Co-Head of Corporate and M&A has joined Excelia Legal as the firm's Managing Partner.
Havel & Partners has advised Lead Ventures on co-leading a EUR 26 million investment round for CouldTalk. Prielomek & Partners reportedly advised CloudTalk.
Michal Sylla has been appointed to an Associate Partner position with PRK Partners in Prague.
PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.
PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.
Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.
PRK Partners has been repeatedly voted among the most socially responsible firms in the category of small and mid-sized firms and was awarded the bronze certificate at the annual TOP Responsible Firm of the Year Awards.
Our work is not only “business”: we have participated on a longstanding basis in a wide variety of pro bono projects and supported our partners from the non-profit sector (Kaplicky Centre Endowment Fund, Tereza Maxová Foundation, Czech Donors Forum, etc.).
Firm's website: www.prkpartners.com
