ODI Advises IMOB and PRISKO on Sale of Majority Stake in VIPAP

ODI advised the Czech Government (Ministry of Finance) and its two State-owned subsidiaries IMOB and PRISKO on the cross-border sale of the majority stake in VIPAP VIDEM KRŠKO (VIPAP), the largest paper mill in Slovenia and a prominent CEE newsprint manufacturer, with revenue topping EUR 90M, as well as on the sale of claims against the latter, all to Czech-based RIDG Holding (RIDG).

The transaction, governed by Slovenian and (partly) Czech law, and subject to various conditions precedent (including merger clearance in various jurisdictions), was preceded by a lengthy and complex ODI-led restructuring process of VIPAP, involving the sale of claims against the latter by other financial creditors, including the two largest Slovenian banks (NLB and NKBM) and TCK, to RIDG. ODI’s work throughout has encompassed due diligence of financial claims against VIPAP, drafting the transactional documentation and assistance with signing and closing.

The ODI team was led by Partner Suzana Bončina Jamšek.