19
Fri, Jul
71 New Articles

Wolf Theiss Advises VIG on Increasing Stake in VIG Magyarorszag to 90%

Wolf Theiss Advises VIG on Increasing Stake in VIG Magyarorszag to 90%

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

Wolf Theiss has advised the Vienna Insurance Group on the increase of its stake in Hungarian holding company VIG Magyarorszag from 55% to 90%, by acquiring the extra stake from Hungarian state holding company Corvinus. PK & Partners reportedly advised Corvinus.

The transaction remains contingent on regulatory approval.

According to Wolf Theiss, the “Vienna Insurance Group acquired the Hungarian companies owned by the Dutch group Aegon. The holding company VIG Magyarorszag Befektetesi was then established to manage the Hungarian VIG companies, in which Corvinus International Investments, an investment management company of the Hungarian state, holds a 45% stake. Once the transaction is completed, VIG’s stake in the Holding will increase from 55 to 90%. Corvinus will continue to keep a 10% stake in the Hungarian holding company.”

The Wolf Theiss team included Partners Horst Ebhardt and Janos Toth, Counsel Melinda Pelikan, Senior Associate Lukas Ploesch, and Associates Kinga Kajcsos and Laszlo Lovas.

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.

Firm's website.

Our Latest Issue