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.
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Our experience
Corporate M&A
Our Corporate/M&A experience includes advising
- A real estate investment trust company 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
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
Our Banking & Finance experience includes advising
- AEGON with the refinancing of its intragroup debt through a EUR180 million secured credit facility.
- A multinational financial institution 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
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
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Budapest
Alkotás u. 55-61.
Budapest, Hungary
1123
- +36 1 429 6000
- Send email
News and insights
Publications: 21 December 2022
Gender diversity on corporate boards
What to expect from the new EU Women on Boards Directive, including the practical changes for your management structure and the impact on the national legislation of each Member State.
Publications: 20 December 2022
Updates to the Hungarian Merger Control Regime
Significant changes to Hungarian merger control rules will enter into force in early 2023. Most changes are intended to reduce red tape and increase flexibility. They include an increase to the “hard”…
Publications: 19 April 2022
Ten years of the vertical block exemption regulation in CEE
The updated EU Vertical Block Exemption Regulation (the VBER) and the associated Vertical Guidelines (the VGL) are due to be published soon, just before their current counterparts expire at the end of…
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
Really quick response, high availability and flexibility while acting professionally
Legal 500 2020, Commercial, corporate and M&A in Hungary
They are absolutely aware of the business aspect of things and have a great working relationship with the clients
Chambers Europe 2020, Banking & Finance - Hungary
They are very flexible and business-minded and really concentrate on material issues
Chambers Europe 2020, Banking & Finance - Hungary
Allen & Overy Budapest has good practitioners with strong backgrounds and experience
Chambers Europe 2020, Capital Markets - Hungary
It is our preferred competition department by a large margin
Chambers Europe 2020, Competition/Antitrust - Hungary
We have been working with the team on a number of assignments and I like the pragmatic approach
Chambers Europe 2020, Competition/Antitrust - Hungary
Always work proactively on our behalf and take the client's interests into consideration
Chambers Europe 2020, Corporate/M&A – Hungary
