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A Closer Look: Jalsovszky's Agnes Bejo on Zambo Vagyonkezelo Sale of Tuzallotechnika

A Closer Look: Jalsovszky's Agnes Bejo on Zambo Vagyonkezelo Sale of Tuzallotechnika

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On November 28, 2022, CEE Legal Matters reported that Jalsovszky had advised Zambo Vagyonkezelo on the pre-exit restructuring and sale of Tuzallotechnika to Alba Industrial Holding. CEELM reached out to Jalsovszky Partner Agnes Bejo to learn more about the transaction.

CEELM: To start, when did the firm become involved in the deal?

Bejo: Luckily, we have been able to be involved at a very early stage, due to the fact that the deal had been preceded by a tax restructuring of the sellers’ group. Representing a family business on the sellers’ side almost inevitably brings up tax issues and we are able to assist from both a tax and an M&A perspective. This is something we believe gives us a competitive edge in the market – being able to assist clients with both the M&A and the tax side of deals is rather unique amongst law firms and our clients are really appreciative of that.

CEELM: Speaking of which, what were the specific areas you advised on, and who took the lead on each from your side? 

Bejo: Our tasks included carrying out a pre-deal restructuring. The Head of our Tax Planning group, Akos Barati, led the team there. The M&A group included me, coordinating the work, with the assistance of Associate Dora Nagy and Junior Associate Lajos Kerekes. Our real estate department was also involved. Levente Bihari, our Senior Associate heading the Real Property group, was taking care of that bit.

CEELM: What would you say was the most complex aspect of the deal?

Bejo: In fact, there have been quite a few challenges. We needed to sign the deal very fast, due to a tight deadline available for the buyer to have an engagement from the financing banks. As a result, some commercial issues have been left to be agreed on until closing, which leads to sometimes rather tense negotiations. Also, coordinating all (tax, commercial, real property) advice needed the close cooperation of all lawyers involved.

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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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