Szabo Kelemen & Partners (SKP) has advised CarNet Invest Zrt. on its acquisition of Auto-Fort group from C.P Holding and Interag. The sellers were advised by VJT & Partners on the deal, which was approved by the Hungarian Competition Authority at the beginning of January and closed this month.
According to Szabo Kelemen & Partners (SKP), "Auto-Fort is one of the most prestigious car dealer companies in Hungary," and CarNet Invest is "one of the largest privately owned car dealer networks in Hungary."
SKP reports that CarNet Invest has "nine dealerships [and] 19 depots and repair shops in and around Budapest and in large cities of Western Hungary," and that "the company sells Alfa Romeo, Citroen, Dacia, Fiat, Ford, Hyundai, Jeep, Lancia, Mazda, Peugeot, Renault, and Toyota." Following its acquisition of Auto-Fort it will also sell Suzuki cars.
The Szabo Kelemen & Partners team consisted of Partners Laszlo Kelemen and Tamas Szabo, supported by Balazs Dominek and Zsofia Barat.
The VJT & Partners team advising C.P. Holding and Interag was led by Partners Janos Tamas Varga and Andras Lovretity and lawyer Hoa Tunde Nguyen.