In order to create an integrated system for high volume public construction investments, the Hungarian Government has adopted a new legislation. From January 2019, high volume public construction investments reaching the estimated value of HUF 700 million must be executed by a state-owned company, i.e. the Investment Agency.

According to the official communications, the Hungarian Government is determined to make steps towards the simplification of the public administration while increasing its quality.

Oppenheim has advised the Beghelli Group on the sale of Klotild Palace, an English neo-baroque building in Budapest's 5th district currently housing the Buddha-Bar Hotel Budapest, to ABA Gate Hungary Kft., a company owned by private investors from Qatar. KPMG Legal advised the buyer on the transaction, which was valued at approximately EUR 48 million.

Former Dentons Counsel Marton Kertesz has become the new leader of Deloitte Legal Erdos and Partners Law Firm’s Labor Law and Compliance team in Budapest.

Oppenheim has advised investment firm AEW on its acquisition of two mixed-use buildings on Budapest's historic Andrassy avenue from an undisclosed seller. CMS advised the seller on the deal.

Ban & Karika Attorneys at Law, the Hungarian member of the act legal alliance, has been selected to provide and coordinate legal assistance to Air France-KLM in 11 countries.

The 2019 Hungarian tax law changes, among other measures, have introduced a new group taxation regime and reflect the implementation of the provisions set out in the European Union’s Anti-Tax Avoidance Directive (ATAD). 

One of the most significant limitations of the national economic capacity is labour shortages, namely the lack of professionals, skilled and experienced workforce. In order to recruit the best qualified candidates, companies shall develop ways to become attracting.

Noerr’s Budapest office has advised ErlingKlinger AG, a Frankfurt stock exchange listed innovative car part manufacturer, on its financing by a syndicate consisting of Commerzbank, Landesbank Baden-Wurttemberg, Deutsche Bank, DZ Bank, HSBC, and Banque Europeenne du Credit Mutuel.

Squire Patton Boggs has closed its Budapest office.

Andersen Global has announced that it has entered into a collaboration agreement with Budapest's Szabo Kelemen & Partners Attorneys, making Hungary the 38th country in which Andersen Global offers legal services, and the 46th country in which it is present.

Miklos Boronkay and Robert Dezso have been promoted to Partner at Szecskay Attorneys at Law.

Kapolyi has advised AutoWallis Plc., a new member of the Wallis Group specializing on automotive investments, on its February 7, 2019 IPO and listing on the Budapest Stock Exchange.

Kinstellar has advised Neuraxpharm Group on the acquisition of Farmax from SVUS Pharma in the Czech Republic, Slovakia, and Hungary. BBH reportedly advised SVUS Pharma on the sale.

Former CMS Senior Counsel Gabor Gelencser has joined Kinstellar's Budapest office as Partner.

In Hungary, as is the case in other EU countries, recent economic growth has been accompanied by a labour shortage. This is largely due to Hungarian workers emigrating to other EU countries in search of higher wages and better living standards. According to statistics, approximately 5% of the country's working-age population has emigrated to other EU countries in recent years.

Noerr has advised AEW Europe on the acquisition financing of the Luxus Aruhaz retail unit at Vorosmarty square in the heart of Budapest. The transaction was financed by UniCredit Bank AG Vienna, which was represented by Wolf Theiss.

Deloitte Legal has helped Germany's ABO Wind AG launch a 5.2 MW solar power plant to the south of Debrecen in Hungary.