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City scape with river and green space

Hungary

Since 1993, Lengyel Allen & Overy Ügyvédi Iroda has established itself as one of the premier practices in Hungary, with a formidable group of experienced lawyers particularly suited to corporate and finance work.

Many of our lawyers have completed post-graduate studies in Hungary, as well as the US, UK and the Netherlands.

Our office in Budapest consists of 25 lawyers including two resident partners. With 15 support staff we are well prepared to collaborate on cross-border projects and co-operate with local counsel from other leading legal practices or Allen & Overy offices in other jurisdictions.

As part of the Central and East European practice, we can also call on the expertise of Allen & Overy lawyers in the Czech Republic, Poland , Romania, Slovakia and Russia. The CEE region is a key market for us and, unlike many other law firms, we remain committed to maintaining a long-term presence in Hungary.

Our experience

Borsodchem acquisition by Wanhua

Borsodchem acquisition by Wanhua

We acted for the Wanhua Industrial Group on its EUR 1.2bn acquisition and financing of  Hungarian chemicals company BorsodChem.
EBRD wind farm investment

EBRD wind farm investment

We acted for EBRD on its EUR50m equity investment in Iberdrola Renovables Hungary, operator of Hungarian wind farms with 159MW wind power capacity.

 

Hotel Restructuring

Hotel Restructuring

We acted for a Hungarian bank on the restructuring of a portfolio of hotels in Hungary.
MOL Bond and Bank Double

MOL Bond and Bank Double

We acted for MOL on its EUR 750mn eurobond and on its EUR 500mn syndicated revolving credit facility.
Oil and Gas Financing

Oil and Gas Financing

We acted for BNP Paribas and Raiffeisen Bank on a USD 100mn borrowing base facility for Hungarian oil and gas explorations company Hungarian Horizont.
OTP Bank – bank to bank loan

OTP Bank – bank to bank loan

We acted for the consortia of banks on the EUR 250mn syndicated loan facility for OTP Bank and on the CHF 75mn and EUR 18mn facilities for Polish bank Bank Ochrony Środowiska.
Polish Leveraged Financings

Polish Leveraged Financings

Our English law finance team advised on the two successful Polish leveraged financing transactions in 2010: acting for Advent International on its acquisition of educational publisher WSiP and for BNP Paribas Fortis and ING as arrangers of the PLN 560mn facilities to support IK Investment's acquisition of Agros Nova.
Slovenian Energy Projects

Slovenian Energy Projects

Our English law finance team advised EBRD on a EUR 200mn loan facility and a consortium of commercial banks on a EUR110mn EIB guarantee facility for Slovenian TermoElektrarna Šoštanj to fund the construction of its new 600MW "Unit 6" thermal power plant.
UPC / Fibernet / INvitel cross-border telecoms

UPC / Fibernet / INvitel cross-border telecoms

Our ICM and M&A Groups acted for Liberty Global International/UPC Hungary first on the auction for the shares in FiberNet, and then on the purchase of assets, i.e. the network. Warburg Pincus – through FN Cable and Telecom Services to Magyar Telekom B.V./Invitel, and UPC Hungary simultaneously acquired certain assets of FiberNet from FN Cable Holdings B.V./Invitel. 

Our offices

Budapest

News & insights

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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Publications: 23 SEPTEMBER 2019

Increased sanctions for unlawful overtime

Fines for unlawful overtime to be applied for each employee and not overall at the level of the employer.

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Publications: 17 APRIL 2019

Analysing the impact of the AIFM Directive

The Alternative Investment Fund Managers Directive (AIFMD) will have a major impact on the asset management sector as it regulates alternative investment fund managers who market or manage funds in Europe targeted at professional investors. With the rapid growth in alternative investment funds focussed on a wider range of asset classes the AIFMD heralds increased regulatory scrutiny on the sector.

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Publications: 12 OCTOBER 2018

New Hungarian legislation on national security vetting of foreign investors to apply from 1 January 2019

On 2 October 2018, the Hungarian Parliament adopted a new law, which will require ministerial approval for foreign direct investment into specific sectors. The law, currently awaiting sign-off from the President and then publication, applies to transactions set to close after 1 January 2019.

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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.