HAVEL & PARTNERS represented Komerční banka’s investment platform Upvest and the investment group RSJ in their acquisition of a stake in the Czech shopping centre, Centrum Černý Most in Prague.

The transaction involved acquiring a 25% stake in CENTRUM ČERNÝ MOST s.r.o., with a call option to increase the stake up to 49%, through a qualified investor fund, SICAV. The majority owner of the company remains the French firm Unibail-Rodamco-Westfield.

This comprehensive advisory process was led by a large team of experts from the firm, headed by partner Petr Dohnal. The transaction was further led and negotiated by managing associate Josef Bouchal, with contributions from counsel David Šmída, managing associate Adam Karban, senior associate Patrik Chrást, and junior associates Dominika Hřebačková and Anna Gloserová. Partner Josef Žaloudek handled tax matters.

The advisory services also included legal structuring of the transaction, comprehensive legal due diligence, consultation on the tax implications of the acquisition structure, negotiation of the transaction, negotiation of all project administration, management, and development agreements, and negotiation of the related joint venture agreement at the level of CENTRUM ČERNÝ MOST s.r.o. and the newly established qualified investor fund between Upvest and RSJ.

The work on the transaction lasted approximately a year. The transaction was closed in November last year and settled in December 2024.