Upvest and RSJ Secure Stake in Centrum Cerny Most with Havel & Partners' Guidance
Deal News | Jan 29, 2025 | CEE Legal Matters
Havel & Partners represented Upvest, an investment platform of Komercní Banka, and the RSJ investment group in acquiring a 25% stake in Centrum Cerny Most from Unibail-Rodamco-Westfield. The transaction includes a call option for Upvest and RSJ to increase their stake up to 49%. Dentons provided legal counsel to the sellers. Centrum Cerny Most, located in Prague, is a shopping center owned and operated by the entity of the same name. The purchase was valued at EUR 553 million on a 100% basis, with the asset being financed through a green mortgage loan amounting up to EUR 268 million, partially allocated for the shopping center's ongoing extension. Key personnel from Havel & Partners were involved in facilitating the acquisition, including Partners Petr Dohnal and Josef Zaloudek, along with various associates. The Dentons team was led by Czech Republic Co-Managing Partner Jiri Strzinek, supported by Partners Marketa Tvrda and Ondrej Barton among others.
Sectors
- Real Estate Investment
- Legal Services
- Financial Services
Geography
- Czech Republic – The transaction took place in Prague, Czech Republic, concerning the Centrum Cerny Most shopping center.
Industry
- Real Estate Investment – The transaction involves investments in a significant shopping center property, which is a core activity in the real estate investment sector.
- Legal Services – The involvement of law firms such as Havel & Partners and Dentons in advising on the transaction highlights the legal services sector's role in facilitating real estate and investment deals.
- Financial Services – Upvest, a financial investment platform, and RSJ, an investment group, are significant participants in the investment transaction.
Financials
- EUR 553 million – The transaction's implied offer price for acquiring 25% with an option up to 49% stake in Centrum Cerny Most.
- EUR 268 million – The green mortgage loan amount used to partly finance the shopping mall extension.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Upvest | Bidding Company | Company | An investment platform operated by Komercní Banka. |
| RSJ | Bidding Company | Company | An investment group that participated in acquiring the stake in the shopping center. |
| Unibail-Rodamco-Westfield | Selling Company | Company | The current owner selling a minority stake in Centrum Cerny Most. |
| Havel & Partners | Legal Advisor to Buyers | Company | A law firm advising Upvest and RSJ on the transaction. |
| Dentons | Legal Advisor to Sellers | Company | A law firm advising Unibail-Rodamco-Westfield on the transaction. |