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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.

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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