Hogan Lovells Advises UniCredit Bank on Sale of one of Former HVB Bank Headquarter Buildings in Czech Republic
13 February 2012
PRAGUE, 13 February 2012 - Hogan Lovells has advised UniCredit Bank Czech Republic on the sale of one of the former HVB Bank headquarter buildings in Prague.
The transaction involved sale of certain land and buildings located at Revolucni 17/764 in the historical centre of Prague as well as selected movable assets. The building was constructed in 1929-1930 based on the drawing of architect Frantisek Berger and offers approximately 2.500 m2 of office premises, technical facilities and parking.
The Hogan Lovells team advised the bank on the selection procedure, vendor due diligence and transaction documentation. Although the building is not registered as a cultural monument, however, it is included in the Prague conservation area and therefore the owner has to comply with the state care of monuments regulation.
The Hogan Lovells team advising UniCredit Bank was led by Prague partner Miroslav Dubovsky, assisted by counsel Howard Chapman and trainee Martin Kraft.
Commenting on the transaction, Miroslav Dubovsky said:
"We are very delighted to have been trusted to assist one of the leading banks in the Czech market - UniCredit Bank - on another major property project in Prague. As with the previous sale of Na Prikope and Nekazanka buildings, the transaction is part of the bank's property optimisation process."