Skils advises Česká spořitelna on the purchase of Sberbank CZ’s loan portfolio in the largest transaction in Czech banking in the last two decades

Skils provides comprehensive legal advice to Česká spořitelna, the largest Czech bank by number of clients, in connection with the purchase of the loan portfolio of the Czech Sberbank. With a purchase price of CZK 41 billion, this is the largest M&A transaction on the Czech banking market since the privatization of large banks at the turn of the millennium. The sale of the loan portfolio takes place within the largest and the most closely watched Czech insolvency case in recent years.

The settlement of the transaction is subject to, among others, the approval of the Czech National Bank, the approval of the Office for the Protection of Competition and the extension of the exemption from the sanction regime imposed on the Sberbank Group by the United States of America.

The transaction was also reported by foreign and Czech media, such as CEE Legal Matters, Lidovky.cz and Seznam Zprávy.