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Schoenherr Advises AG Foods and Cooperatief Avallon on Shareholder Settlement and Management Buyout

Schoenherr Advises AG Foods and Cooperatief Avallon on Shareholder Settlement and Management Buyout

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Schoenherr has advised AG Foods Group and Cooperatief Avallon MBO U.A. on settlement of minority shareholders' disputes and on a subsequent management buyout.

In addition to the settlement of several minority shareholders' claims, the transaction consisted of the exit of these shareholders from AG Foods. Schoenherr also advised the existing management on a buyout of Cooperatief Avallon (a majority shareholder in AG Foods), including on the acquisition financing with Czech financial institute Komercni banka, a.s.

AG Foods is a Czech company that develops, produces and distributes instant drink mixtures. It also focuses on the sale and service of mixtures preparation technology for the food and HoReCa industry. Cooperatief Avallon is part of the Avallon Polish investment fund, which promotes the involvement of managers in equity transactions. AG Foods was part of the EUR 50 million Avallon MBO Fund I.

The Schoenherr team was led by Partner Vladimir Cizek, who commented: "We were excited to support both companies in the complex matter of the minority shareholders' disputes in four separate jurisdictions. AG Foods benefited from the involvement of Cooperatief Avallon over several years and the management buyout was completed in a satisfactory fashion for both parties.

Cizek was assisted by Prague-based Attorneys at Law Jitka Kadlcikova, Natalie Rosova, Helena Hangler, and Denisa Assefova, and Associate Rudolf Bicek, Also involved were Warsaw-based Partner Katarzyna Terlecka, Bratislava-based Partner Sona Hekelova, and Budapest-based Attorney at Law Gabor Kordovanyi.

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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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