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HISTORY

2005

  • The City of Prague runs a tendering procedure for new office premises

2006

  • Copa Retail s.r.o. wins the tendering procedure; Prague City Hall starts using the building following the completion of extensive refurbishment

2007

  • Halifax Bank of Scotland along with other individual investors and private equity funds acquire Copa Retail s.r.o. (the acquisition takes place through the Luxembourg-based holding company, Guyana Holding S.àr.l.)

2013

  • The City of Prague initiates litigation, as part of which it seeks, among other things, a 47% reduction of the rent

2014

  • The court dismisses Prague’s action

2014

  • In July, Copa Retail s.r.o. offers the City a discount where the total savings would amount to CZK 561 million

2015

  • Municipal Court in Prague confirms the dismissal of the City of Prague’s appeal of the previous ruling

2016

  • The City of Prague agrees with Copa Retail on a discount from the rent amounting to almost CZK 1 billion

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