NewsAllen & Overy advises on block trade in CZG

Allen & Overy advises on block trade in CZG – Česká zbrojovka Group shares through an accelerated bookbuilding

Allen & Overy announced today that it advised WOOD & Company Financial Services, a.s., acting as sole global coordinator, on a block trade disposal of shares in CZG – Česká zbrojovka Group SE (the Company) by certain shareholders (the Colt Shareholders), represented by TXPATCH8445 Holdings LLC (TXPATCH), who acquired shares in the Company in connection with its acquisition of Colt Holding Company LLC (Colt). The shares were sold by way of an accelerated bookbuilding process.

In the accelerated bookbuilding process, targeted only at selected investors meeting certain criteria (the ABB), 770,057 ordinary shares of the Company, representing 2.3% of the Company’s share capital and the total number of votes in the Company, were sold. The offer price achieved in the ABB was CZK476 per share and the total aggregate proceeds of the block trade was approximately CZK366 million.

Commenting on the transaction, Mr Nick Kaufmann, Head of Equity Capital Markets & Syndicate at WOOD & Company, said:

“WOOD & Company were honoured to be appointed by the Colt Shareholders to sell shares they received in the acquisition of Colt and pleased to be able to return them a gain of 26% on their original value in May. The A&O team were very helpful in processing a deal complicated by having over twenty individual sellers, though ably coordinated by TXPATCH.”

The A&O team on the transaction was led by partner Petr Vybíral, with support from junior lawyer Denisa Jonášová. Partner Adam Wells advised on the U.S. law aspects of the transaction and the English law aspects were handled by associate Philip Whitehead.

Partner Petr Vybíral said: “It has been an honour and privilege for us to have assisted WOOD & Company on this transaction, which was one of the very few ABBs on the Czech market in recent years and which also required the parties to deal with some specific features of the unique sale process set up.

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