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Jeantet and CMS Advise on Group Accor Acquisition of Five Budapest Hotels

Jeantet and CMS Advise on Group Accor Acquisition of Five Budapest Hotels

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Jeantet has advised listed hotels group Orbis, a unit of the French group Accor, in a buyback transaction involving five hotels in downtown Budapest operating under Accor brands from Erste Group Immorent Holding GmbH. CMS advised Erste Group Immorent on the deal. The aggregate price for the acquisition of the five hotels was EUR 64.3 million.

The deal encompasses the Mercure Budapest Korona, Ibis Styles Budapest Center, Ibis Budapest City, Ibis Budapest Centrum, and Mercure Budapest Buda.

The Jeantet team was led by Partner François d’Ornano and included Local Partner Ioana Knoll-Tudor and Associates Anna-Maria Veres and Blanka Borzsonyi. 

The CMS team consisted of Senior Counsel Jozsef Varady and Associate Zsofia Zsurzsa.

Image Source: ibis.com

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.