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Closing: Commerzbank’s Sale of Hungarian Subsidiary to Erste Now Closed

Closing: Commerzbank’s Sale of Hungarian Subsidiary to Erste Now Closed

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On December 14, 2022, the Lajer law firm announced that the sale of the Hungarian subsidiary of Commerzbank to Erste (reported by CEE Legal Matters on January 10, 2022) had closed.

Lajer advised Commerzbank Zrt, the Hungarian subsidiary of German Commerzbank AG, on the deal. According to the firm, the share deal closed on November 30, 2022, and the portfolio transfer deal closed on December 1, 2022.

As previously reported, CMS had advised Germany's Commerzbank AG on the sale of Commerzbank Zrt to Erste Bank Hungary. Bird & Bird had reportedly advised Erste.

The Lajer team included Partner Zsolt Lajer and Senior Counsels Csilla Szabadkai, Petra Mayer-Nagy, Gyorgy Bacsatyai, Marton Balogh, and Miklos Stettner.

The CMS team included Partners Andreas Kohler, Erika Papp, and Szabolcs Szendro, Senior Counsels Eszter Torok and Eszter Kalman, Senior Consultant Arpad Lantos, Senior Associates Dorottya Varga-Giesz, Judit Kresz, and Sandor Kovacs, and Associate Dora Altziebler.

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.

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