Wolf Theiss is acting as the buy-side legal advisor to Budapest's public utilities company in the transaction, which will result in the Municipality of Budapest obtaining 100% ownership of the company responsible for the decorative and public lighting of Budapest until December 31, 2024.
BDK was previously jointly owned 50-50% by the Municipality of Budapest and E.ON. Through the acquisition of E.ON's stake in the company, the city's public and decorative lighting will have a single owner, ensuring higher quality, along with more modern and cheaper lighting in Hungary's capital, the press release says.
The Wolf Theiss team advising on the transaction included Norbert Bálint (counsel, corporate/M&A), Zoltán Bódog (senior associate, corporate/M&A) and Réka Deák (associate, corporate/M&A).
Wolf Theiss was responsible for advising on all legal and regulatory aspects of the transaction, in particular, the structuring of the transaction and the drafting and negotiation of all the necessary transaction documents.
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