KŠB achieved a significant victory in one of the most closely watched cases concerning a review of the adequacy of the consideration paid in a squeeze-out of minority shareholders
The Municipal Court in Prague, in the first instance, dismissed the claims of former minority shareholders of PFNonwovens a.s., who challenged the adequacy of the consideration paid during the squeeze-out carried out in March 2021 and sought to have it increased by up to double the amount.
The case is unique in the Czech Republic in that it concerns a squeeze-out of a listed company. The shares of PFNonwovens a.s. were traded on the Prime Market of the Prague Stock Exchange. Currently, there are only three proceedings of this type underway in the Czech Republic concerning the review of consideration following a squeeze-out of publicly traded companies.
KŠB represented the majority shareholder in the proceedings, with the case being handled by a team consisting of Radka Felgrová, Filip Buchta, and Petr Kasík.
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