Agrofert Wins Final Decision in Dispute with United Bakeries
United Bakeries was ordered to return a CZK 100 million advance payment to Agrofert for a thwarted merger with Agrofert Group company Penam, which - according to the court - United Bakeries wrongly charged as a contractual penalty. Moreover, United Bakeries must pay default interest of CZK 36,000,000, plus the costs of the court proceedings.
The High Court in Prague thus upheld last May’s verdict by the Municipal Court in Prague, in which the court held that Agrofert was not responsible for the failed merger. The dispute began in 2011.
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KŠB Assisted with the Refinancing of the BigBoard Group, a leading player in the premium outdoor advertising market
Our team provided legal advice to BigBoard Praha, a leading player in the premium outdoor advertising market in the Czech Republic, in connection with its refinancing. Founded in 1993, the BigBoard Group is the largest provider of premium outdoor advertising in the Czech Republic, with an approximately 70% market share and annual turnover of around CZK 2 billion. Its advertising media cover key locations across the country, including the Prague metro and major transport hubs.
KŠB Assisted Sandberg Capital with a Majority Investment in HotelTime Solutions
The KŠB team provided legal advice to the investment group Sandberg Capital on the completion of a majority investment in HotelTime Solutions, one of the leading providers of cloud-based software for hotel operations management.
KŠB assisted Seyfor with the extension of its financing provided by Raiffeisenbank, Tatra banka and, newly, Slovenská sporiteľňa.
The KŠB team provided legal advice to its long-standing client Seyfor in connection with the continuation and expansion of its syndicated financing. The existing lending banks, Raiffeisenbank Czech Republic and Tatra banka, decided to continue supporting Seyfor’s growth, with Slovenská sporiteľňa joining the financing as a new lender.
