Kinstellar advises lead arrangers on Czech law aspects of financing AVAST Software's acquisition of AVG Technologies (Detail)
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October 2016 – Kinstellar has successfully advised Credit Suisse International, Jefferies, UBS, Bank of America and Société Générale as joint lead arrangers and joint book-runners for the senior secured credit facilities in connection with Avast Software’s USD 1.4 billion acquisition of AVG Technologies.

Avast Software, an industry-leading maker of the most trusted security software in the world, has finalised its purchase AVG Technologies N.V., (NYSE: AVG), a developer of business, mobile and PC device security software applications. The deal was announced in June.

The secured credit facilities were used to purchase shares tendered by stockholders of AVG Technologies and to refinance Avast Software’s and AVG Technologies’ existing credit facilities. Avast offered to purchase all of the outstanding ordinary shares of AVG in cash, for USD 25 per share, for a total consideration of approximately USD 1.4 billion.

Both companies are industry pioneers: founded in the Czech Republic in the late 1980s and early 1990s, they expanded internationally in the 2000s and will now combine complementary strengths to position Avast for continued growth in the security industry. Following the acquisition, Avast is now the largest provider of security software in the world outside China, with a combined customer base of 400 million users.

Kinstellar advised the financing banks on all Czech law aspects of the financing. The Kinstellar team was led by Martina Březinová (Counsel) and included Leo Javorek (Managing Associate) and Dalibor Černý (Associate).