Bratislava’s MKK Grössling Joint Venture With National Development Fund II

Taylor Wessing advised advised the Capital of the Slovak Republic – Bratislava on the deal.

The Capital of the Slovak Republic – Bratislava on founded a joint venture company MKK Grössling (“JVC”) with a state investor – National Development Fund II (100% subsidiary of Slovak Investment Holding) to facilitate the funding of the reconstruction works, reopening and the subsequent operation of the historical Grössling city bath integrated into a new cultural-community public space located in the centre of Bratislava.

The City of Bratislava as the majority shareholder will contribute to the JVC property (including the bathhouse itself and the surrounding plots) and additional financial investment. National Development Fund II will invest app. 4,1 million euro to the JVC from European structural and investment funds. In addition to its own funds, the JVC will be able to draw a bank loan of approximately 10 million euro.

As a result of the reconstruction, a new modern community space, consisting of spa, city library, park and café, is to be opened to public (scheduled for 2026). The once renowned bathhouse was built in 1895 and has been closed for public since 1994. The iconic building of the Grössling bathhouse belongs to national cultural monuments of Slovakia.

The Taylor Wessing’s team was led by M&A senior associate Andrea Kováciková. M&A partner Juraj Frindrich (Picture), corporate associate Andrej Krabác and competition senior associate Juraj Sýrny also advised as members of the team.
 

Involved fees earner: Juraj Frindrich – Taylor Wessing; Andrea Ková?iková – Taylor Wessing; Juraj Sýrny – Taylor Wessing;

Law Firms: Taylor Wessing;

Clients: City of Bratislava (SK);

Giulia Di Palma

Author: Giulia Di Palma