The Hungarian M&A market continued its downward of from the last few years and ended with 98 deals on record. While the overall deal value also came down, the silver lining is that the average deal value increased to EUR 27.5m, up EUR 9.8m y-o-y.
There has been a trend for M&A activity in the telecoms & IT sector represented by an increase in the number of deals which were recorded in 2019, up six y-o-y. Despite real estate & construction deals being down y-o-y, they continue to make up the majority of deals in the region with 30 being concluded in 2019. Activity is mainly driven by domestic investors who were responsible for seven out of the top ten investments.
Volume and number of deals
Top five deals
| #1Target: Telenor Magyarorszag; Telenor Real Estate Hungary Sector: Telecoms & IT Stake: 25% Buyer: Antenna Hungaria Country of buyer: Hungary Deal Value: EUR 302,3m Value Source: 2 |
| #2Target: EMASZ – North-Hungarian Electricity; ELMU Sector: Energy & Utilities Stake: 26.83%; 27.25% Buyer: E.ON Country of buyer: Germany Deal Value: EUR 249,5m* Value Source: 3 *Deal value estimate based on E.ON offering HUF 31,701 per share for EMASZ and HUF 34,585 per share for ELMU. |
| #3Target: Duna, Corvin, Gyor and Miskolc shopping centres Sector: Real Estate & Construction Stake: 100% Buyer: Indotek Group Country of buyer: Hungary Deal Value: EUR 217,5m Value Source: 1 |
| #4Target: Magyar Gaz Tranzit Sector: Mining (incl. oil & gas) Stake: 100% Buyer: MOL Country of buyer: Hungary Deal Value: EUR 113,7m Value Source: 1 |
| #5Target: Sofitel Budapest Chain Bridge Sector: Real Estate & Construction Stake: 100% Buyer: Indotek Group Country of buyer: Hungary Deal Value: EUR 100m Value Source: 2 |
Value Source:
- Official data
- Market estimate provided by EMIS and based on publicly available information
- EMIS estimate
Top three sectors
Real Estate & Construction: 30 deals |
Telecoms & IT: 17 deals |
Manufacturing: 12 deals |
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