KSB Advises on Another Chapter of Joint Investment between J&T and Rohlík Group

J&T Group is a long-standing KŠB client and it was a pleasure to work with them again.

Rohlik Group, founded in 2014 in the Czech Republic, is one of Europe’s leading online delivery services for groceries and other fast moving consumer goods, with operations in the Czech Republic, Germany, Austria, Hungary and Romania. Using unique internally developed software solutions, the group is currently able to deliver approximately 20,000 items and can even offer 15-minute delivery times in some countries.

The joint investment story of the Rohlik Group and J&T has been in the making for several years. So far it has culminated in the merger of the two groups with the opening of the Rohlik Growth SICAV investment fund, which is expected to be worth well over EUR 120 million. The majority of the fund will be held by Rohlik's founder, Mr. Tomáš Čupr, and the rest will belong to JTFG FUND I SICAV, where the largest investors are J&T Banka and the largest Czech fund J&T Arch (for our assistance in previous acquisitions, see e.g. here). Investment in the upcoming fund is subject to a minimum deposit of CZK 1 million and is intended exclusively for qualified investors.

The second part of the transaction was the issuance of five-year bonds, where we advised, in addition to J&T Bank, Česká spořitelna and PPF banka as the three lead managers. At stake is the acquisition of an investment of up to CZK 4.5 billion. This issue, like the investment in the fund, also contains the first publicly traded debt investment instrument, the so-called equity-link element, in the form of a variable premium at maturity based on the valuation of the Rohlík Group.

The two parts of the transaction were closely linked and therefore required close cooperation between the respective teams in addition to comprehensive corporate, financial, contractual and tax law expertise. A welcome innovation in the domestic capital market, we wish much success to both investment products.

Read more here:

https://www.seznamzpravy.cz/clanek/ekonomika-cupr-vyda-dalsi-dluhopisy-a-spolecne-s-j-t-zaklada-fond-laka-na-bonusy-264419

https://forbes.cz/rohlik-cz-vydava-treti-vlnu-dluhopisu-tomas-cupr-chce-ziskat-minimalne-tri-miliardy/

https://www.e15.cz/byznys/prumysl-a-energetika/nova-emise-dluhopisu-i-novy-fond-cupr-chce-miliardy-na-dalsi-rozvoj-rohliku-1420039

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