Clifford Chance's Prague office has advised Danish electronics company Bang & Olufsen on the divestment of its Czech subsidiary Bang & Olufsen, s.r.o. to its long-term partner Tymphany Acoustic Technology.
As part of the transaction, Tymphany Acoustic Technology will produce Bang & Olufsen products in the Kopřivnice factory as a trusted and selected supplier of Bang & Olufsen. All of Bang & Olufsen's Czech workforce will be transferred to Tymphany Acoustic Technology, ensuring the delivery of the innovative, high-end audiovisual solutions for which the Bang & Olufsen brand is renowned.
The closing of the transaction is subject to the approval of the Czech competition authorities and is expected in Q2 2017.
Clifford Chance Prague boasts a tier-one corporate practice that was spearheaded in this transaction by David Koláček, a partner with more than 20 years of practice in domestic and cross-border M&A and private equity transactions, supported by associate Aneta Sosnovcová, a real estate specialist with a strong track record in corporate M&A transactions, and senior tax lawyer Petr Šebesta.