Biography
Milan Horák heads the Prague tax team of White & Case. He primarily focuses on VAT, income tax and M&A.
Milan regularly advises clients on tax structuring, corporate tax issues and tax audits. He has supported some of the key market players in their most high-profile transactional processes, often assisting them, among others, in calculating the purchase price.
His recent experience includes advising Mehiläinen, TPG Europe, CVC Capital Partners and several major banking institutes.
Experience
Milan has advised, among others, the following representative clients:
Mehiläinen, Finland's largest social and healthcare provider and a CVC Capital Partners portfolio company, on its acquisitions of Regina Maria in Romania and MediGroup in Serbia from private equity firm MidEuropa. The tax team lead on the drafting and technics of the purchase price calculation and advised on review of specific reps and warranties.
Packeta Group, a Czech technology and logistics company and a CVC Capital Partners portfolio company, in relation to the disposal of Mailstep, the largest fulfillment provider in the Czech Republic, to Emma Capital. The tax team advised on exit tax structuring.
Ali Group, the largest and most diversified global leader in the foodservice equipment industry, on its acquisition of JIPA, a Czech Republic-based manufacturer of advanced electrical multifunctional devices for commercial kitchens, from its founders. The tax team advised on tax-specific provisions of the (including in response to tax DD findings) and extensively on purchase price calculation and post-closing price adjustment.
TPG Real Estate on the €470 million sale to funds managed by Blackstone of CT Real Estate, a portfolio of ten logistics parks located in the Czech Republic and Slovakia. This transaction is one of the largest real estate deals in Europe in 2024. The tax team advised on exit tax structuring and on critical aspects of the purchase price calculation.
FCDE (Fonds de Consolidation et de Developpement des Entreprises), a French private equity firm, and Bertin Industries, a French technology and engineering company specializing in innovative solutions across industrial sector, on the acquisition of VF Nuclear, a leading player in radiation protection and monitoring systems, notably for civil nuclear applications. The tax team advised on post-closing equity distribution.
The Carlyle Group on its acquisition of Meopta Optika, a manufacturer of optical, opto-mechanical, and opto-electronic solutions headquartered in the Czech Republic.
CVC Funds and EMMA Capital on their acquisition of 100% ownership of Packeta, a leading e-commerce logistics and delivery player in Czechia and Slovakia.
Trinity Bank in the acquisition of the office building located at Na Příkopě 33 in Prague. The transaction represents the largest acquisition in the real estate office segment in the Czech Republic in 2023, and one of the largest office space transactions in the center of the Czech capital.
RCS & RDS (formerly Romanian Cable System & Romanian Data System), one of the biggest telecommunication operators in South-Eastern Europe and the largest cable and satellite television company in Romania, mainly on Czech tax issues of its former Czech subsidiary.
BMO Real Estate, an investment boutique and the property specialist with GBP 5.6 billion of assets under management across core European markets, in structuring of their real estate acquisitions in the Czech Republic, including the acquisition of the Van Graaf and the Diamant properties on Wenceslas Square in Prague.
Klépierre, European specialist in shopping center properties, on tax structuring of the acquisition of a retail property in the Czech Republic.
individuals and founding shareholders of Apiary, Czech start-up company focusing on API design and collaboration, on the sale of Apiary to Oracle, a world-leading technology firm. The advisory included assistance to employees of Apiary on tax effects of their stock options through the deal.
The Stars Group (formerly Rational Group), owner of industry leading gaming brands including PokerStars or BetStars, in connection with gambling permit and gambling tax in the Czech Republic.
KGAL Investment Management, company managing a fund of a well-known German insurance group, on tax aspects related to the acquisition of the DRN property in downtown Prague.
KGAL Investment Management in its acquisition of Charles Square Center, a prominent multi-purpose property in downtown Prague, including tax and financial due diligence, acquisition structuring, investment cash flow modelling, and tax and financial aspects of post transaction merger.
Erste Group Bank, Česká spořitelna, UniCredit, UniCredit Bank Czech Republic and Slovakia, Société Générale and Komerční banka as mandated lead arrangers on tax aspects in connection with syndicated financing provided to CTP Group, one of the largest industrial developers in the CEE region, for the purposes of refinancing the existing financial indebtedness of certain property companies within CTP Group that operate logistic parks in the Czech Republic. At an amount of EUR 1.9 million, this is one of the largest real estate financings in the CEE region.
Uber, an American multinational transportation network company offering services that include peer-to-peer ridesharing, ride service hailing, food delivery, and a bicycle-sharing system, on tax aspects of streamlining of the Uber Eats food delivery project in the Czech Republic by involving an "invoicing aggregator.
ČEZ Group, the largest electricity generation and distribution company in the Czech Republic and one of the ten largest energy companies in Europe, on tax aspects of the annual update of its EUR 8 billion EMTN programme.
ČEZ Group on tax aspects of its offers to purchase for cash any and all of its outstanding USD 700 million 4.250 per cent. notes due 2022 and its outstanding EUR 750 million 5.000% notes due October 2021 and EUR 500 million 0.875% Notes due November 2022. This is one of the very few liability management transactions on the Czech market.
UniCredit Bank Czech Republic and Slovakia, the leading Czech financial institution, as issuer on tax aspects in relation to the update of its EUR 5 billion English law-governed international covered bonds programme.
R2G, a family office and wealth manager, providing on-going legal and tax advisory services.
Genesis Capital, a private equity manager in the Czech Republic and Slovakia, in connection with the establishment of its new fund – Genesis Private Equity Fund III.
the shareholders (Czech private individuals) of FIOMO Group, a group manufacturing flexible packaging in the approx. €28 million sale of the company to the Huhtamaki group, a Finnish group of specialists in packaging for food and drink.
Fermat Group, a leading producer of horizontal boring mills in the Czech Republic, in connection with its acquisition of US-based, Lucas Precision, Fermat´s primary distributor and provider of maintenance services in the US market.
Generali Real Estate on the acquisition of Palác Křižík, a complex of office buildings located in Prague 5, from two French investors.
the shareholders in the sale of Ticketpro Group, a group of ticketing agencies founded in 1992 and based chiefly in the Czech Republic and Poland, by Ticketmaster, the world's largest ticketing company.
Aegon, an international provider of life insurance, pensions and asset management, on tax issues in relation to the disposal of a pension fund company in the Czech Republic.
Raiffeisen Leasing Real Estate in connection with tax due diligence for a contemplated acquisition.
Crédit Agricole in connection with financial restructuring.
Česká spořitelna (Erste Group) in connection with export financing.
Evolution Equity Capital, in connection with tax due diligence and assistance with tax structuring.
CP Invest Group in connection with preparation of tax due diligence.
bpd partners, a Czech private equity investor, providing on-going legal and tax advisory services.