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DLA Piper and Schoenherr Advise on Sale of Majority Stake in East Grain to Agrofert Group

DLA Piper and Schoenherr Advise on Sale of Majority Stake in East Grain to Agrofert Group

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DLA Piper has advised Romanian grain and oilseed trader East Grain on the sale of a majority stake in the company and its Hungarian subsidiary to the Czech Republic's Agrofert group. Schoenherr advised the buyer.

According to DLA Piper, the deal was undertaken through a capital increase and "ranks as one of the most important foreign investments for the Romanian agribusiness ecosystem in recent years. The deal will also allow East Grain, already active in Romania, Hungary, and Serbia, to explore new opportunities, increase its capacities, and enlarge its market footprint."

With this transaction, Agrofert entered the Romanian agribusiness market, expanding its footprint in the country, where it was already active in the fertilizers distribution sector, Schoenherr reported.

Agrofert is a Czech conglomerate holding company headquartered in Prague. It operates agriculture, food, chemical, construction, logistics, forestry, energy, and mass media companies. It has over 250 subsidiary companies and focuses primarily on Central Europe.

East Grain was founded in Romania in 2007 and expanded to Hungary in 2017. It operates in grain and oilseeds trading, logistics, grain storage, and feed and inputs production. In 2021, the group traded 500,000 tons of grain and oilseeds, supplied inputs for 40,000 hectares of land, transported 20,000 truckloads of goods, and stored 60,000 tons of grains.

The DLA Piper team included Country Managing Partner Marian Dinu, Senior Associate Sandra Cahu, and Associate Noemi Popa.

The East Grain in-house team was led by Corporate Legal Counsel Zsuzsa Nagy.

The Schoenherr team was led by Partner Madalina Neagu and included Bucharest-based Partner Georgiana Badescu, Local Partner Madalina Mitan, Senior Attorney at Law Mihaela Popescu, and Attorney at Law Alexandra Smahon, and Budapest-based Local Partner Kinga Hetenyi and Attorney at Law Adrian Menczelesz.

Czech Republic Knowledge Partner

PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.

PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.

Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.

PRK Partners has been repeatedly voted among the most socially responsible firms in the category of small and mid-sized firms and was awarded the bronze certificate at the annual TOP Responsible Firm of the Year Awards.

Our work is not only “business”: we have participated on a longstanding basis in a wide variety of pro bono projects and supported our partners from the non-profit sector (Kaplicky Centre Endowment Fund, Tereza Maxová Foundation, Czech Donors Forum, etc.).

Firm's website: www.prkpartners.com

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