Baker McKenzie Prague advised the liquidator and insolvency trustee of Sberbank CZ, Ms. Jiřina Lužová, on the sale of Sberbank CZ's loan portfolio to Česká spořitelna, one of the leading Czech commercial banks. This transaction, valued at over CZK 41 billion, is one of the largest M&A transactions in the financial services sector in the Czech Republic in the past several years. The proceeds will significantly contribute to satisfying Sberbank CZ creditors' claims.
The transaction is part of the ongoing liquidation of all banking operations of Sberbank CZ following the revocation of its banking license by the regulator and its subsequent insolvency, which is one of the largest insolvency cases in Czech history. The Baker McKenzie team representing the liquidator and insolvency trustee is led by Prague Partners Libor Basl and Alexandr César, who are primarily supported by Associates Slavomír Slávik, Martina Marchand, Petr Vojtěch and Jan Kolář.