Kinstellar successfully completes another acquisition for the CPI Group - Copa Centrum Národní (CCN)
17.08.2011Company: Amcham
Prague, 15 August 2011 – Kinstellar, one of the largest international law firms in the Czech Re-public, has successfully completed the acquisition by property developer CPI Group of a 50% stake in COPA Centrum Národní from the company Interco Holding GmbH. CPI Group is now the co-owner of this planned administrative-commercial centre located in Prague at Národní třída, together with the company Pawlowski AG.
Kamil Blažek, a Partner at Kinstellar’s Prague office, comments: "We are very pleased that we were able to provide legal services to CPI Group for another capital transaction, and particularly because the COPA Centrum represents a very ambitious development, both from the project and financial points of view. This is the first project of such size and scope carried out by the CPI Group in the centre of Prague.”
Prior to the sale, Interco Holding was the co-owner of the COPA Centrum project since 2002 together with Pawlowski AG. The co-owner, Sebastian Pawlowski, has retained his shareholding. The price of the transaction was not disclosed. CPI will now participate in the construction of the multifunctional complex, the plans for which include six interconnected buildings located above the Národní metro station in the centre of Prague. The development includes offices, shops and apartments with a total area of 50,000 sqm. Investment costs are projected at CZK 4 billion.
