Szecskay Attorneys at Law Advises PPF group in Acquisition of Telenor Group's CEE Subsidiaries
Szecskay Attorneys at Law advised PPF group on Hungarian law issues in connection with the financing of the acquisition of Telenor group's CEE subsidiaries, including Telenor Hungary Zrt. The EUR 3.025 billion acquisition facilities supporting the acquisition have been fully underwritten by BNP Paribas Fortis SA/NV, Crédit Agricole CIB, Erste Group Bank, HSBC Bank plc, Societe Generale and UniCredit Bank Czech Republic and Slovakia, a.s. as Global Coordinators and Mandated Lead Arrangers. Société Générale and Komercni Banka acted as facility agent and security agent of the facilities respectively. Szecskay's tasks included the reviewing of and commenting on various English and Hungarian law governed finance documents, and advising on various Hungarian law issues in connection with the financing. They were also responsible for assisting the guarantors in the signing of the Hungarian law governed finance documents and for helping in collecting the various Hungarian law related condition precedent/subsequent documents. The firm's M&A practice group acted in the course of the acquisition of Telenor group's CEE subsidiaries from a corporate law perspective and more or less all of our practice groups acted in close cooperation with our M&A and Banking and Finance practice groups in the course of the due diligence procedure. Szecskay's Corporate/M&A team was led by Orsolya Görgényi; the Banking and Finance team was lead by Katalin Szecskay.