09
Fri, May
78 New Articles

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

Hungary
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

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.

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.

Firm's website.

Our Latest Issue