Kinstellar has assisted the Swiss-based MET Group in entering into an agreement for the acquisition of 98.99% of the registered capital and voting rights in the Hungarian company Tigáz Zrt from the Italian oil & gas giant Eni, including Eni’s gas distribution operations in Hungary through its participations in Tigáz DSO and Turulgáz.
The deal, which is the largest M&A transaction in the Hungarian natural gas sector in 2017, is expected to be closed in the second quarter of 2018, subject to regulatory approval.
The Kinstellar team was led by Partner Anthony O’Connor who managed the preliminary legal due diligence process and the preparation and negotiation of the share purchase agreement with Partner and head of the firm-wide energy practice Kristóf Ferenczi, who advised on all intricate energy sector regulatory issues (such as unbundling matters). The team also included energy law expert and Managing Associate Balázs Sepsey and Partner Péter Vörös, who covered the competition law implications of the transaction.
