CMS: Business Expansion and Hungary’s New Wealth Tax

Hungary’s New Wealth Tax: What You Need to Know

Our upcoming business breakfast, Hungary’s New Wealth Tax: What You Need to Know, will explore the key considerations, valuation challenges and planning opportunities arising from the new wealth tax framework. 

The event will be held in a hybrid format, with the option to join us either in person or online. Please join us for an insightful and practical session exploring the implications of the new rules and how to prepare for the changes ahead.

Key topics

The session will cover the following subjects:

  • The New Wealth Tax in a Nutshell
  • The 1 billion forint question: How Much Is Your Wealth Worth?
  • Valuation challenge - Real Estate and Private Companies
  • Family Wealth and Wealth Management Structures
  • Cross-Border Assets: Non-Residents, Foreign Assets and International Structures
  • Double Tax Treaties and Relief Scenarios
  • Wealth Planning vs. Tax Avoidance: What Can Still Be Done?
  • Getting Ready: Key Actions Before and After 31 December 2026
  • Q&A and Discussion

Our experts will provide in-depth insights into how different types of assets may be valued, the specific challenges surrounding real estate and privately held companies, and the potential implications for domestic and cross-border wealth structures. We will also consider the distinction between legitimate wealth planning and tax avoidance, and discuss the key steps to consider before and after 31 December 2026.

The session will conclude with a Q&A, providing an opportunity to raise questions and discuss the practical implications of the new rules with our experts. 

We also welcome your questions in advance and encourage you to submit any topics or specific issues you would like our experts to address during the session.

To register and submit your preliminary questions, please visit our website.

 

Agenda

CMS advises Ahold Delhaize on €1.2bn acquisition of Tesco’s Czech and Slovak businesses

CMS is advising Ahold Delhaize as lead transaction counsel on its agreement to acquire 100% of Tesco’s businesses in Czechia and Slovakia. The transaction, announced on 30 October 2026, has an enterprise value of approximately €1.2bn, rising to approximately €1.7bn when lease obligations are included.

The acquisition will significantly expand Ahold Delhaize’s presence in Central and Southeastern Europe and mark its entry into the Slovak market. Tesco’s Czech and Slovak businesses comprise more than 360 self-operated supermarkets, hypermarkets and convenience stores, as well as more than 100 franchise stores. Together, the businesses generate approximately €3.5bn in sales and employ more than 14,000 people.

Following completion, the transaction will bring Tesco’s Czech operations together with Ahold Delhaize’s existing Albert business. Ahold Delhaize expects the combined businesses, following integration and store portfolio remodelling, to become the leading grocery retail brand in Czechia by market share, while establishing the group as a significant player in Slovakia.

CMS has supported Ahold Delhaize across a wide range of transaction workstreams. The mandate brought together CMS lawyers from several practices and offices across Europe.

Helen Rodwell, Partner and Head of the Corporate and M&A practice at CMS Prague, commented: “We are extremely proud to have supported Ahold Delhaize on this landmark transaction. Its scale and complexity called for a genuinely integrated effort across practices, offices and jurisdictions. What has stood out throughout has been the extraordinary collaboration of a large and diverse team of CMS lawyers, working closely together with the Ahold Delhaize team towards a common goal. It has been a tremendous team effort, and we are very grateful to Ahold Delhaize for the trust they placed in us.”

The CMS transaction team was co-led by CEE Corporate/M&A partner Helen Rodwell and Head of the CMS Corporate/M&A Group, Louise Wallace. Senior members of the wider cross-border team included Lukas Hejduk (Real Estate, CEE/Prague), Aaron Fairhurst (Tax, London), Ben Booker-Moore (Corporate/M&A, London), Frances Gerrard (Corporate/M&A, London), Yavor Danailov (Corporate/M&A, Sofia), Dominika Cichorek (Corporate/M&A, Warsaw), Maciej Olejnik (Finance, Warsaw), Johanna Dodgson (Corporate/M&A, London), Lucia Luptakova (Corporate/M&A, London) and Szabina Marsi (Corporate/M&A, Budapest) supported by lawyers across CMS’s Prague, London, Bratislava, Budapest, Sofia and Warsaw offices.

The transaction is subject to customary closing conditions, including regulatory clearances, and is expected to close in Q4 2027.

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