BBH provided complex legal advisory services to certain companies within the AnaCap group (AnaCap FP GP Limited, Equa Group Limited and Equa Holdings Limited) and represented them in the proceedings for the CNB approval with acquisition of control over Banco Popolare Czech Republic, a.s., a well established banking institution on the Czech market.
The project represents an exceptional case and milestone in the regulation of the Czech banking market in that it is the first time in history that the CNB gave permission to a private equity structure to acquire control over a Czech bank.
"We are quite pleased with this extraordinary achievement - this being the first time on the domestic market that a private equity structure managed to obtain a permit from the CNB to acquire a qualified holding in a Czech bank. We are delighted by this success all the more soas this is yet another ground breaking case on the list of many previous precedent-settingcases in the Czech Republic which we worked on." says Tomas Sedlacek, the BBH partner who oversaw this case recalling some of BBH‘s previous „pioneering“ cases such as the securitization of Home Credit receivables,the CEZ share buy-back, the establishment and licensing of the first qualifie dinvestors fund, etc.
"We value and appreciate the perceptive approach and communication of the CNB and their ability to understand new and not always simple structures and the solutions that we in cooperation with our clients introduced to the CNB" added Zdenek Husták, of counsel BBH, whose involvement was key in the case, referring to some of the innovative solutions for the Czech market that were presented to the CNB during the case.