Lovells

The Vienna Stock Exchange (Wiener Börse AG), advised by Lovells and monlaw, today signed the share purchase agreement on the landmark acquisition of a majority stake in the Prague Stock Exchange.

Following the tender organised by Goldman Sachs International and subsequent negotiations, the Vienna Stock Exchange and a group of Prague Stock Exchange shareholders have agreed on the general terms of the sale of a majority stake in the Prague Stock Exchange. The share purchase agreement was signed today, with the transaction still subject to the approval of the Czech National Bank. The value of the deal has not been disclosed.
 
International law firm Lovells and Austrian law firm monlaw provided the Vienna Stock Exchange with legal advice at all stages of the tender and negotiations, including the drafting of the transaction documentation. The international legal team comprised Lovells counsel Pavel Skopový and associate Marketa Tvrda in Prague, advising on the Czech legal aspects of the deal, and London-based partner Richard Ufland and associate Richard Diffenthal, advising on the English legal aspects. Robert Leuthner, a Vienna-based partner of monlaw, advised on the Austrian legal issues. 

Commenting on the deal, Lovells Prague counsel Pavel Skopový said:  

"We were delighted to have the opportunity to advise the Vienna Stock Exchange on this high-profile transaction, which is unprecedented in the Czech Republic. We have been able to help steer the client through a challenging process during one of the most difficult times for the financial and capital markets in recent history. This deal reflects Lovells' ability to provide clients with top quality legal advice across jurisdictions and work as a highly efficient international legal team."

The deal brings the Prague Stock Exchange into the existing Budapest-Ljubljana-Vienna stock exchange alliance established by the Vienna Stock Exchange, and should hopefully reinforce the continuing expansion of Czech capital markets.  

monlaw partner Robert Leuthner said:

“‘This transaction builds an important step for our client, Vienna Stock Exchange, to continue with their expansion strategy in the growing CEE markets. Working together with the experts of Lovells was just perfectly efficient and secured for our client a streamlined transaction in a very tight timeframe.”

Wiener Börse AG's press release can be found online here:

http://en.wienerborse.at/about/press/pressrelease/prague.html

http://en.wienerborse.at/about/press/pressrelease/prague-22102008.html

Lovells

With over 3,000 people operating from 26 offices in Asia, Europe, the Middle East and the United States, Lovells is one of the world's leading international law firms. We advise many of the world's largest corporations, financial institutions and governmental organisations.  We regularly act on complex, multi jurisdictional transactions as well as some of the most high-profile commercial disputes.  

Lovells (the "firm") is an international legal practice comprising Lovells LLP and its affiliated businesses.  Lovells LLP is a limited liability partnership registered in England and Wales with registered number OC323639.  Registered office and principal place of business: Atlantic House, Holborn Viaduct, London EC1A 2FG.  

The word "partner" is used to refer to a member of Lovells LLP, or an employee or consultant with equivalent standing and qualifications, and to a partner, member, employee or consultant in any of its affiliated businesses who has equivalent standing.  

www.lovells.com

Monlaw

The Vienna based law firm specialises on the fields of M & A, capital markets and real estate. Robert Leuthner LL.M. (Columbia), partner, advised on various Austrian and international M&A and capital markets transactions over the past years. On this transaction monlaw acted as the Austrian counsel to Wiener Börse in cooperation with Lovells.  

www.monlaw.at

For further information please contact:   

Petra Nová, Business Development Manager                        

E-mail: petra.nova@lovells.com