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CMS Advises Hypo-Bank Burgenland on Sale of Sopron Bank to MagNet Bank

CMS Advises Hypo-Bank Burgenland on Sale of Sopron Bank to MagNet Bank

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CMS has advised Austrian Hypo-Bank Burgenland on the sale of its Hungarian subsidiary Sopron Bank Burgenland to MagNet Bank. Oppenheim reportedly advised the MagNet Bank.

The transaction remains contingent on regulatory approval by the Hungarian Central Bank.

According to CMS, “following the sale of Sopron Bank, Hypo-Bank Burgenland will focus on serving corporate clients in Hungary, especially in the area of real estate financing.”

Hypo-Bank Burgenland is a regional bank in Austria and has been a part of the GRAWE Group since 2006. MagNet Bank is an independent Hungarian bank, established in 1995 as a savings cooperative. According to its website, it is a value-based bank and a community-building financial institution.

The CMS team was led by Partners Andreas Koehler and Erika Papp and included Senior Counsels Szilvia Kabacs and Eszter Kalman, Senior Associate Zsolt Zsurzsa, and Senior Consultant Arpad Lantos.

Hungary Knowledge Partner

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa, and Asia Pacific. This positions us to help clients with their legal needs around the world.

With more than 60 lawyers, including 14 partners, and a staff of over 140, DLA Piper Hungary is one of the largest international law firms operating in Hungary. What makes us stand out is that we offer not only legal services but also tax and business advisory support in a fully integrated manner. We maximize synergies between legal, tax, and business advisory services to offer a unique service for our clients, particularly in regulated industries such as energy, infrastructure, life sciences, banking, and telecommunications.

We are a true full-service firm, providing our private and public sector clients with advice on all aspects of their business. This includes transaction-related advice, people and employment, commercial dealings, litigation, information technology, media and communications, intellectual property, insurance, tax, real estate, and restructuring plans.

DLA Piper Hungary has received numerous professional awards and is consistently ranked among the top law firms in Hungary by international rankings. We are ranked #1 by Mergermarket among the law firms active in Hungary based on the volume of M&A deals handled between 2005 and 2024.

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