Dentons and Impact Advisory advise on the merger of the two largest on-line retailers in Hungary

  • March 26, 2019
Dentons’ Budapest office has advised Hungarian online consumer electronics retailer Extreme Digital and its shareholders in connection with the merger with eMAG Hungary, which belongs to South African Naspers Group. This is a monumental deal for Hungary as it represents the merger of the number one and number two online retailer in Hungary, and together, they will form one of the largest players on the CEE e-commerce market.

 

Dentons previously represented Steinhoff International, a South African integrated discount retailer on its acquisition of a majority stake in Extreme Digital.

The Budapest based transaction team of Dentons was led by partner Edward Keller with the support of associates Réka Szalóky and Sean Huber, and trainee associate Marcell Kővári. Counsel Tünde Gönczöl advised on the competition aspects of the deal.

Impact Advisory, a joint venture working in association with Dentons Europe advised on the financial due diligence and also on the financial terms of the transaction documentation. Impact Advisory’s team included Balázs Tüske, Zoltán Dömötör and Gergely Hézső.

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