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Closing: Commerzbank’s Sale of Hungarian Subsidiary to Erste Now Closed

Closing: Commerzbank’s Sale of Hungarian Subsidiary to Erste Now Closed

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On December 14, 2022, the Lajer law firm announced that the sale of the Hungarian subsidiary of Commerzbank to Erste (reported by CEE Legal Matters on January 10, 2022) had closed.

Lajer advised Commerzbank Zrt, the Hungarian subsidiary of German Commerzbank AG, on the deal. According to the firm, the share deal closed on November 30, 2022, and the portfolio transfer deal closed on December 1, 2022.

As previously reported, CMS had advised Germany's Commerzbank AG on the sale of Commerzbank Zrt to Erste Bank Hungary. Bird & Bird had reportedly advised Erste.

The Lajer team included Partner Zsolt Lajer and Senior Counsels Csilla Szabadkai, Petra Mayer-Nagy, Gyorgy Bacsatyai, Marton Balogh, and Miklos Stettner.

The CMS team included Partners Andreas Kohler, Erika Papp, and Szabolcs Szendro, Senior Counsels Eszter Torok and Eszter Kalman, Senior Consultant Arpad Lantos, Senior Associates Dorottya Varga-Giesz, Judit Kresz, and Sandor Kovacs, and Associate Dora Altziebler.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

Firm's website.