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Hungary

Since its establishment in 1993, Allen & Overy Hungary has become one of the market leading international legal practices in Hungary.

Our ongoing success is based on a combination of our exceptional global experience, together with our in-depth knowledge of local market conditions. We have an outstanding team of experienced Hungarian and English lawyers, who have worked on some of the most complex and pioneering transactions on the Hungarian and the wider CEE and European market. We work in all fields of business law, including M&A, competition, banking & finance, capital markets as well as real estate and employment law.

Our Budapest office is an active participant in the regional English law banking team’s operations, contributing in major regional transactions where a solid English law background is a must.

 

Our experience

Corporate M&A

Corporate M&A

Our Corporate/M&A experience includes advising

  • Goodman on the sale of a real estate portfolio in Hungary and the CEE region to GLP.
  • SVEA Finance in relation to the sale of a portfolio of receivables of CREDITEXPRESS Hungary
  • Raiffeisen Energy Services on the sale of its windpark in Hungary.
  • AEGON Credit in relation to the sale of its performing and non-performing mortgage loan portfolio.
  • AEGON Lakástakarékpénztár in relation to the sale of its home savings product portfolio.
  • Home Credit International on its first European venture capital investment into Hungarian fintech startup Barion.
Capital markets

Capital markets

Our Capital Markets experience includes advising

  • MOL on its inaugural and the subsequent Growth Bond (NKP) issues. The inaugural issue was the first issue of HUF bonds under the Funding for Growth Scheme operated by the National Bank of Hungary.
  • Mercedes-Benz Manufacturing Hungary in relation to the issue of a HUF 40.000.000.000 bonds within the framework of the Hungarian central bank's funding for growth bond scheme. Arranger was Raiffeisen Hungary.
  • Raiffeisen Bank Hungary in relation to the first and second Growth Bond (NKP) issue of the Cordia Group.
  • Tthe International Investment Bank in connection with the private placement and listing of its notes on the Budapest Stock Exchange.
  • The Bank of China Ltd. in connection with listing of its structured notes on the Budapest Stock Exchange.

 

Banking & Finance

Banking & Finance

Our Banking & Finance experience includes advising

  • AEGON with the refinancing of its intragroup debt through a EUR180 million secured credit facility.
  • Société Générale and a syndicate of banks on a EUR3.025 billion credit facility provided to PPF Group for the purchase of the local entities of Telenor Group in various countries.
  • CIB Bank, Raiffeisen Bank and Bonafarm on setting up new credit facilities and preparing a security package.
  • Mora Banc on the financing for the construction of a new boutique hotel in Budapest.
 
Competition/Antitrust

Competition/Antitrust

Our Competition/Antitrust experience includes advising

  • and representing Scania in relation to multiple follow-on damages claims in Hungary related to the EU Commission’s cartel decision related to medium and heavy duty trucks.
  • and securing a commitment decision for Magyar Telekom, concluding an investigation by the Hungarian Competition Authority concerning an alleged abuse of a dominant position.
  • and representing ING Hungary in the European Court of Justice in the landmark preliminary reference procedure C-228/18 Budapest Bank and others v GVH. We currently continue to represent ING before Hungary’s Supreme Court in connection with the court review of the Hungarian Competition Authority's decision in its MIF investigation.
  • and representing UPC Hungary in relation to an abuse of dominance investigation.
  • and representing CIB Bank in challenging the Hungarian Competition Authority's decision on a cartel concerning FX loans.
 

Our offices

Budapest

News & insights

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News: 22 JULY 2021

Excess liquidity in CEE – borrowers continue to drive the lending market

At the end of April, Allen & Overy held its 7th Annual CEE Finance Workshop bringing together experts from across the region for an online discussion on the latest loan market trends in CEE. The…

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Miklos Kadar

News: 30 APRIL 2021

Appointment of a new Head at Allen & Overy Hungary

Allen & Overy announces the appointment of Miklós Kádár as new Head of its Hungarian practice from 1st May 2021. Miklós Kádár is taking over the management from Zoltán Lengyel. 

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Allen & Overy graphic

Publications: 07 APRIL 2020

Hungarian courts switch to electronic procedure under Covid-19 coronavirus rules

Effective as of 31 March 2020, the Hungarian Government introduced special rules to civil and administrative court proceedings that apply during the state of emergency declared due to the Covid-19…

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Publications: 25 SEPTEMBER 2019

Changes are needed to EU Law so declarations of non-infringement of EUTMS and Community designs are available across the EU: an A&O survey

A more detailed version of this article was first published in the Journal of Intellectual Property Law and Practice (Volume 14, Issue 10, pages 754-760)on 20 September 2019 and can be found here.

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Awards and accolades

  • Wolters Kluwer Legal Award: Team of the Year – Finance and Insurance 2017
  • Hungarian Law Firm of the Year - IFLR European Awards 2011

Recognition

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Allen & Overy has one of the largest and best known practices in Central and Eastern Europe (CEE) and is one of the few major international firms with a well-established and expanding presence in the region.