Advising on a joint venture with the purpose of reconstruction and reopening of the iconic Grössling bathhouse

We have advised the Capital of the Slovak Republic - Bratislava on the foundation of 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.

Andrea Kováčiková | Senior Associate Taylor Wessing

The team was led by M&A senior associate Andrea Kováčiková. M&A partner Juraj Frindrich, corporate associate Andrej Krabáč and competition senior associate Juraj Sýrny also advised as members of the team.