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CMS advises Commerzbank AG on sale of Hungarian subsidiary

5 January 2022

International law firm CMS has advised Commerzbank AG, a major German bank, on the sale of its Hungarian subsidiary Commerzbank Zrt to Erste Bank Hungary Zrt., the Hungarian affiliate of Austrian headquartered Erste Group.

The transaction is subject to the approval of the Hungarian Central Bank as well as – amongst others – the Hungarian Competition Office. It is expected to close in the second half of 2022. 

Andreas Köhler, CMS Corporate partner and Co-Head of the CEE German Practice, comments: “We are delighted to have advised long-standing client Commerzbank AG on this strategic sale in line with its “Strategy 2024”, announced earlier this year. CMS is well-placed to advise clients on multi-jurisdictional transactions of this nature thanks to our top-tier banking and corporate expertise and our strong international presence.”

The CMS team was led by Erika Papp and Andreas Köhler, and included Eszter Török, Dorottya Varga-Giesz, Árpád Lantos and Sándor Kovács (Banking); Szabolcs Szendrő and Dóra Altziebler (Competition); and Eszter Kálmán and Judit Kresz (Tax).

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Erika Papp
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Andreas Köhler