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News

Clifford Chance advises KKCG on the acquisition of a majority stake in AutoCont Group

23.10.2017
Company: Clifford Chance Prague LLP, organizační složka

Lawyers of Clifford Chance's Prague office advised KKCG Investments AG on the successful signing of the acquisition of a majority stake in AutoCont Group, the largest supplier of information and communication technologies in the Czech Republic and Slovakia. Clifford Chance also advised on the financing of the transactio

KKCG's investment equates to a 70 percent stake in the company – the remaining 30 percent share remains with the original owners of the company, including its five founders. The parties do not wish to disclose the transaction value. In 2016 AutoCont reported sales of around CZK 4bn (approx. EUR 150m) and operating profit before depreciation exceeded CZK 200m (approx. EUR 7.5m).

The acquisition of AutoCont will allow KKCG to strengthen its digital business and expand further in this industry sector in Central Europe. KKCG's current holdings in the technology sector include data centres 'DataSring' and 'SafeDX', a joint ventrue with Foxconn. It also manages start-up fund 'Springtide Ventures'.

The Clifford Chance team that advised on the matter was led by senior associate Michal Jašek and supported mainly by junior associates Jakub Veselý and Tomáš Procházka. Prague-based partner David Koláček supervised the team. The financing aspects were managed by partner Miloš Felgr, who was primarily assisted by associate Dominik Vojta.

The closing of the transaction is subject to the approval of the Czech Competition Office and is expected to take place by the end of the year.

Tags: Law | IT |

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