NewsClifford Chance advises club of banks led by Česká spořitelna in financing of acquisition of Packeta by CVC Capital Partners, Emma Capital

The Prague office of Clifford Chance advised club of major Czech banks consisting of Česká spořitelna, Československá obchodní banka and Citibank and led by Česká spořitelna as agent in financing of acquisition of Packeta, the parent company of Zásilkovna, by a consortium of CVC Capital Partners and Emma Capital. The transaction further involves refinancing and restructuring of Packeta group’s existing financing.

The acquisition of Packeta, a major player in the e-commerce logistics industry, by the consortium comprising CVC Capital Partners and Emma Capital which, following fulfillment of all conditions precedent (including approval of the European Union’s competition authorities), successfully closed in March 2024, marks a significant development in the business landscape.
This accomplishment follows Clifford Chance’s previous involvement in advising a consortium of Česká spořitelna, Citibank and UniCredit Bank Czech Republic and Slovakia in a club financing deal for Packeta and its subsidiaries earlier in 2023.

“Clifford Chance is honored to have been a strategic partner in this significant transaction. Our team’s expertise in navigating complex financial structures and providing tailored legal solutions ensured the successful closing of this acquisition. We congratulate the entire banking club as well as the winning consortium of CVC Capital Partners and Emma Capital on this transformative deal,” commented Miloš Felgr, partner at Clifford Chance office in Prague.

Packeta group was founded in 2010 with a clear goal: to make parcel shipping easier for online shops. Packeta group is a holding of several companies, including Czech entity Zásilkovna. The group operates in several global markets, including the Czech Republic, Slovakia, Germany, Romania, Hungary, Poland and Slovenia. Packeta group employs around 2,200 employees, the group’s 2022 turnover reached EUR 255 million.

CVC is a global equity and investment manager with operations in Europe, Asia and the US with assets under management of €177 billion. CVC is an investor in 125 companies with a total annual turnover of approximately €100 billion and which employ more than 550,000 people. In its 40 years of activity, it has built a network of 29 offices worldwide.

EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union but is also present in other markets. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies.

Clifford Chance’s dedicated team was led by partner Miloš Felgr, with help of counsel Dominik Vojta and senior associate Hana Čekalová and with further support of junior lawyers Ondřej Šteco and Sára Bartlová.