HAVEL & PARTNERS provided comprehensive legal advice to Cresco Real Estate, the largest residential developer in Slovakia, in connection with the financing of the second phase of the SO-HO Rezidence residential project in Prague’s Holešovice district.
The transaction was led by counsel Štěpán Černý together with associate Filip Šperl, under the partner supervision of Filip Čabart. The legal services primarily included the review and negotiation of the loan documentation and related security arrangements.
The SO-HO residential project reflects contemporary trends in modern urban architecture, with an emphasis on greenery, a high standard of living, a community-oriented concept, and maximum functionality of interior layouts with regard to natural light. The second phase of SO-HO Rezidence follows the already completed building on V Háji Street and comprises 194 modern apartments, with completion expected in the fourth quarter of 2026.
In connection with this project, Cresco Real Estate is also receiving long-term legal advice in the area of real estate law from partner Martin Ráž and associate Jan Šplíchal.
The venture capital team of HAVEL & PARTNERS provided comprehensive legal services (in particular in transactional law, competition law, and technology law) to the Hungarian investment fund PortfoLion Capital Partners as the lead investor in the Slovak company GymBeam. The value of the investment was EUR 30 million (approximately CZK 725 million).
This is one of the largest venture capital investments in the history of Slovakia and likely the single largest startup investment in the Czech-Slovak region this year.
GymBeam is one of Europe’s leading companies in the field of fitness and sports nutrition, operating across a number of European markets.
PortfoLion Capital Partners is a major Hungarian venture capital and private equity investor focused on financing rapidly growing technology startups and innovative companies in central and eastern Europe.
The legal advisory was led by partner Jaroslav Baier, with significant support from senior associate Peter Košecký. The transaction team also included managing associate Dušan Valent (competition law advice) and associates Petra Kováčechová and Martina Rievajová (technology matters).
Given the size and structure of the investment, the transaction was extensive and involved legal and financial advisors from the Czech Republic, Slovakia, and the United Kingdom, many with global reach.
The investment round was carried out with the participation of the European Bank for Reconstruction and Development (EBRD) as a co-investor. The founder and CEO Dalibor Cicman remains the key figure of GymBeam, continuing to lead the company after the investment.
GymBeam will use the new capital to further develop the company, especially to accelerate its growth in western European markets.
We wish GymBeam continued success in its business development and the investors a high return on their investment.
HAVEL & PARTNERS advised Generali Česká pojišťovna a.s. in connection with the acquisition of a part of the business of D.A.S. právní ochrana, a leader in legal protection insurance on the Czech market, from the Austrian group ERGO Versicherung Aktiengesellschaft.
HAVEL & PARTNERS’ team provided comprehensive legal advice to the client, including due diligence, structuring the transaction, drafting and negotiating transaction documentation, and support in the regulatory approval process.
The transactional team was led by partner Jan Koval, with the assistance of partner Michal Smrček, counsel Roman Světnický, managing associates Zuzana Hájková and Ivo Skolil, junior associates Aneta Králová and Johana Němečková, and other colleagues.
The acquisition agreement was executed in early November 2025. The transaction closing is expected to take place in the first half of 2026, subject to the necessary regulatory and antitrust approvals in the Czech Republic, Austria, Serbia, and Montenegro.
D.A.S. právní ochrana has been operating on the Czech market for three decades and is the most important local entity in the field of legal protection insurance. The transaction is in line with the client’s long-term strategy, which is based on further diversification of its product and service offering.
HAVEL & PARTNERS has provided comprehensive legal advisory services to Amundi Czech Republic, investiční společnost, a.s. in connection with the sale of companies owning two key real estate assets from Realitní fond KB 2’sportfolio — the Forum Karlín building and the Hotel IBIS Praha Na Poříčí.
The buyer in the transaction is Patria investiční společnost, a member of the ČSOB Group. The transaction ranks among the major real estate deals of the year and aligns with the client’s long-term strategy focused on the fund’s portfolio optimization and exit planning.
Led by partner Lukáš Syrový and managing associate Albert Tatra, the HAVEL & PARTNERS team delivered comprehensive legal support throughout the transaction process, particularly in drafting and negotiating contractual documentation and coordinating the settlement phase.
The transaction involved premium properties located in highly attractive areas of Prague, representing stable and long-term investment opportunities on the Czech real estate market.
Photo courtesy of Amundi Czech Republic, investiční společnost, a.s.
HAVEL & PARTNERS advised the major transport group Arriva in drafting a purchase agreement for the delivery of 22 new railway units from the Czech manufacturer Škoda Transportation. These units will be used from 2028 to operate two train lines connecting Prague with Plzeň, and subsequently with Klatovy and Cheb.
Legal advice, including preparation of the purchase agreement, was provided by partner Martin Ráž, together with senior associate Tomáš Chmelka and junior associate Nikita Fesyukov. This marks Arriva’s largest investment in Europe to date.
The transaction was also notable in that it was not a ‘standard’ purchase of ready-made vehicles, but of train units that still need to be developed and approved. Moreover, they are expected to be the fastest purely Czech trains on national tracks, reaching speeds of up to 200 km/h. The train units are scheduled to be deployed from 2028 on the Ex6 (Prague – Plzeň – Cheb) and R16 (Prague – Plzeň – Klatovy/Železná Ruda) lines.
HAVEL & PARTNERS, a law firm, provided legal advice to Amundi Czech Republic, investiční společnost, again in another significant real estate transaction. It concerned the sale of The Square, a major administrative centre located directly above the Budějovická station of the Prague metro.
The comprehensive legal advisory included the drafting of and negotiating over the transaction documents and was provided by partner Lukáš Syrový and managing associate Albert Tatra. The real estate was purchased by Mint Investments, a real estate group. The value of the transaction exceeded CZK 1 billion.
Photo: Amundi Czech Republic, investiční společnost, a.s.
The HAVEL & PARTNERS team advised the Czech industrial group AIT Group – Advanced Industrial Technology Group on establishing a joint venture with the Spanish shareholders of Egile Corporation.
HAVEL & PARTNERS, led by partner Jan Koval and assisted by managing associate Ivo Skolil and associate Jiří Moravec, provided legal advice on the transaction. This included cooperating with the Spanish law firm Gómez-Acebo & Pombo Abogados to prepare and negotiate the transaction documentation and to close the transaction.
The AIT Group – Advanced Industrial Technology Group, a Czech industrial group, specialises in investing in cutting-edge industrial technologies. Meanwhile, Egile Corporation, headquartered in Spain’s Basque region, develops and produces predominantly aerospace components.
The transaction was executed and closed in December 2024.
HAVEL & PARTNERS advised Antracit, a Czech-Slovak developer from the North Moravian Purposia Group on the acquisition of the former Palace Hotel complex in Ostrava.
Partner Lukáš Syrový and managing associate Albert Tatra led the transaction. Their legal team not only conducted due diligence, but also negotiated the comprehensive documentation for the acquisition.
The transaction was completed by the buyout of 100% of the ownership interests from the existing owners at the end of last year.
The former Ostrava Palace Hotel, constructed in 1913 during the Austro-Hungarian era, was considered one of that time’s most modern buildings. Today, the facility houses the Kampus Palace student housing project, which remains in operation. Additionally, the new owner plans a comprehensive renovation of the remaining portion, transforming it into small apartments and commercial spaces for civic-amenity services. The renovation is scheduled for completion in 2030.
Photo: Jiří Zerzoň
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.
HAVEL & PARTNERS, along with its venture capital experts, represented Central European deep tech fund Tensor Ventures and Elevator Ventures, the Austrian corporate VC fund of Raiffeisen Bank, in their investment in Czech fintech startup Wultra.
The legal advice was provided by managing associate Josef Bouchal acting as the team leader, along with associate Jiří Moravec and junior associate Róbert Košala. Partner Jaroslav Baier led the transaction.
The cybersecurity startup Wultra was founded by CEO Petr Dvořák in 2014. The company specialises in developing security solutions for identity verification online and in mobile apps. This includes protecting mobile apps from attacks, implementing multi-factor or biometric authentication, and enabling real-time transaction confirmation.
Today, Wultra serves over 40 clients across 20 countries, including top Czech banks, the Czech National Bank, and financial services and insurance firms.
The transaction was completed in December 2024.
HAVEL & PARTNERS in Slovakia assisted Photoneo in a unique and unprecedented transaction. This deal secured financing for Brightpick, a division focused on developing automated robotic systems, combining debt and equity financing totalling $12 million.
The team, led by partner Jaroslav Baier and comprising associates Kristína Saktorová, Miriama Podskubová, and junior associate Róbert Košala, negotiated the contractual documentation, including the loan agreement and other legal instruments, and led negotiations with individual investors during the related investment interim round.
The venture debt, amounting to EUR 5 million, is the largest of its kind in Slovakia’s history. The debt financing was provided by the European Bank for Reconstruction and Development’s (EBRD) Venture Capital program, which supports startups, innovative firms, and tech companies. In this respect, HAVEL & PARTNERS also provided legal advice during the investment interim round in form of equity financing, which included EBRD Venture Capital and existing investors.
This transaction is considered groundbreaking due to its complex structuring and the financial instruments used.
Venture debt is a form of debt financing primarily aimed at startups and fast-growing companies that have previously secured venture capital investments. It provides additional growth funding with minimal dilution of founders’ or existing investors’ shares. In the American variant, a standard financing tool for startups in the USA for several decades, the lender also receives warrants (options) for future equity in the company.
The investment will support Brightpick’s expansion into the U.S. market.
Photoneo, founded in 2013, is a Slovak company specialising in the development and implementation of proprietary 3D machine vision using AI. Its robotic technologies are used in warehouses across various industries, including food, automotive, logistics, e-commerce, and healthcare. These technologies fully automate order fulfilment processes, reducing operational costs and staffing requirements. Brightpick was spun off from Photoneo in 2021.
Legal experts from HAVEL & PARTNERS have played a pivotal role in the recent transaction in which Viessmann Generations Group, a global industrial group, acquired Gritec (formerly Betonbau). Gritec is a company operating in the Czech market and specialising in the development and production of turnkey technical buildings and stations for energy, water & industrial infrastructure.
Firm’s partner Marek Lošan, along with counsel Natalija Traurigova and managing associate Vladimir Ivanov focused primarily on the Czech legal aspects of the transaction and provided vendor’s due diligence services. They acted as cooperating legal advisors to the German private equity fund Capiton and its management, the previous majority owners of Gritec, which was represented by the law firm Milbank.
The transaction was finalised in October and gained the necessary approval from the relevant antitrust authorities in December 2024. We greatly appreciate this opportunity and wish the new owner much success in further developing the group.