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A Closer Look: Jalsovszky's Agnes Bejo on Zambo Vagyonkezelo Sale of Tuzallotechnika

A Closer Look: Jalsovszky's Agnes Bejo on Zambo Vagyonkezelo Sale of Tuzallotechnika

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On November 28, 2022, CEE Legal Matters reported that Jalsovszky had advised Zambo Vagyonkezelo on the pre-exit restructuring and sale of Tuzallotechnika to Alba Industrial Holding. CEELM reached out to Jalsovszky Partner Agnes Bejo to learn more about the transaction.

CEELM: To start, when did the firm become involved in the deal?

Bejo: Luckily, we have been able to be involved at a very early stage, due to the fact that the deal had been preceded by a tax restructuring of the sellers’ group. Representing a family business on the sellers’ side almost inevitably brings up tax issues and we are able to assist from both a tax and an M&A perspective. This is something we believe gives us a competitive edge in the market – being able to assist clients with both the M&A and the tax side of deals is rather unique amongst law firms and our clients are really appreciative of that.

CEELM: Speaking of which, what were the specific areas you advised on, and who took the lead on each from your side? 

Bejo: Our tasks included carrying out a pre-deal restructuring. The Head of our Tax Planning group, Akos Barati, led the team there. The M&A group included me, coordinating the work, with the assistance of Associate Dora Nagy and Junior Associate Lajos Kerekes. Our real estate department was also involved. Levente Bihari, our Senior Associate heading the Real Property group, was taking care of that bit.

CEELM: What would you say was the most complex aspect of the deal?

Bejo: In fact, there have been quite a few challenges. We needed to sign the deal very fast, due to a tight deadline available for the buyer to have an engagement from the financing banks. As a result, some commercial issues have been left to be agreed on until closing, which leads to sometimes rather tense negotiations. Also, coordinating all (tax, commercial, real property) advice needed the close cooperation of all lawyers involved.

Jalsovszky

Jalsovszky is one of Budapest’s fastest-growing and most innovative law firms. The key to our success is a business-focused approach paired with logical thinking. Clients appreciate that we are never afraid to voice our opinion even in critical situations.

We regard ourselves as a boutique law firm. No matter how experienced our associates are, we cannot be fully conversant in every area of the law, even in the field of commercial law. But when it comes to what we specialise in, we consider ourselves to be among the best.

Whether with regard to our clients or our staff, it is a human-oriented thinking that defines us. It is important for us to build personal relationships with our clients. We believe a personal relationship does not get in the way of providing a high-quality professional service – on the contrary, it makes the co-operation even more effective. We aim, further, to provide our colleagues with a friendly and supportive environment in which they can find fulfilment and motivation.

Our firm’s market-leading role and the exceptional quality of our legal team is acknowledged year in, year out by numerous international rating agencies (including the publications Legal500, Chambers and Partners, IFLR and International Tax Review).

For further information, please visit jalsovszky.com