DLA Piper has advised Komercni Banka on the sale of its subsidiary which owns the building at Vaclavske Namesti 42 to the City of Prague for more than CZK 3.3 billion (approximately EUR 131 million).
According to DLA Piper, "the City of Prague was interested in the building due to its historical value and because the recent sensitive reconstruction of the building will allow the city to move in without major investment. Its strategic location in the city center on three metro lines and the capacity of the office building also played an important role in the decision. Prague intends to move several hundreds of its officials from Skoda Palace, Adria Palace, and the building on Marianske Namesti into the office building. The transaction also includes an agreement for the bank to remain in the building on a lease until the end of 2026."
The DLA Piper team included Partner Michal Hink, Counsel David Padysak, Associate Lenka Chmielova, and Junior Associate Zuzana Princova.
