Clifford Chance has advised a club of major Czech banks headed by Česká spořitelna, a.s. and comprising UniCredit Bank Czech Republic and Slovakia, a.s. and the Czech branch of Citibank Europe plc in connection with CZK 1 billion club financing for Packeta and its subsidiaries.
Packeta, known in the Czech Republic as Zásilkovna, is a global digital e-commerce platform managing the shipping process between e-shops and their customers. The firm was founded as a small start-up in 2010, quickly growing and becoming a technological trend setter that currently facilitates more than 140,000 pick-up points in the Czech Republic and more than thirty other countries.
The financing was arranged to provide for efficient investment and operational funding from planned capital outlays, including merger and acquisition activities, for Packeta and its subsidiaries.
“We are delighted to have supported Česká spořitelna, UniCredit Bank and Citibank on this important milestone in Packeta’s growth story. It’s great to see the firm’s ongoing success and its mark on the e-commerce and logistics industry up close,” said Miloš Felgr, Partner at Clifford Chance.
“Packeta’s success story has been quite inspirational. We are glad we can contribute to its further development,” said Petr Vyleťal of Česká spořitelna. “Professional support provided by Clifford Chance was essential for materializing such funding.”
The Clifford Chance team advised on Czech and Slovak law elements of the transaction. The team was led by Partner Miloš Felgr and Associate Bára Bečvářová, with the support of Senior Associates Dominik Vojta and Stanislav Holec and Junior Associates Ondřej Šteco and David Herich.
