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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

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

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