Thirty-five years ago, the Czech Republic embarked on a large-scale privatization effort with the direct sale of its first state enterprise, Rakona. The purchaser was a multinational American corporation specializing in consumer goods. This sale marked the beginning of a program to privatize dozens of large state-owned companies. The government’s aim was to secure financially robust partners for these enterprises. The Rakona sale is considered a pivotal moment in the country’s transition to a market economy. This initial transaction paved the way for significant economic restructuring and foreign investment. The move signaled a shift away from state control and towards private ownership within the Czech Republic.