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.
The Kapolyi Law Firm has assisted the CyBERG Corp. the owner of Budapest's Kajahu "social digital restaurant chain," with its initial placement of shares on the Budapest Stock Exchange's BSE Xtend mid-market and their introduction to trading.
Noerr has advised the European Investment Bank on financing provided to the Hungarian automotive technology company Almotive.
Noerr Budapest has advised Hiventures on its investment in Oriana International, a Hungarian company providing low-code platform development and partnering in domestic and international sales.
Deloitte Legal has advised K&H Bank on long-term non-recourse project financing provided to Photon Energy Group for Photon Energy’s 11.5 MWp proprietary PV power plant portfolio in Hungary. Pontes Budapest advised Photon Energy on the deal.
Wolf Theiss has advised ALSO Holding AG on its agreement with MCI Euroventures, the majority shareholder of ABC Data S.A., to make a joint tender offer for all publicly-held shares of Warsaw Stock Exchange-listed ABC Data. Baker McKenzie advised MCI and ABC Data on the sale.
Viktor Fuzi and Petr Hrncir have been promoted to Partner at Noerr in Budapest and Prague, respectively.
The new Hungarian Code of Civil Procedure (the “Code”) came with a number of ambitious promises, many of which have already been addressed in CEE Legal Matters. However, a prominent promise, namely increasing the transparency and predictability of litigation, has not yet been discussed in these pages.