Investment Policy Task Force members met online on June 23, 2020 to discuss the impact of the new Hungarian government decree on measures necessary for the protection of strategic companies.
The government decree of 25 May imposes a notification obligation on transactions involving the acquisition of certain shareholdings in so-called strategic companies and the related transfer of assets and collateral, as well as other rights. The definition of strategic company covers a wide range of industries and business activities, so the new rules will affect a significant number of transactions. The new obligation mainly applies to transactions of companies outside the EU and EEA Member States, but in some cases, it may apply to companies in EU and EEA Member States, or even to transactions between Hungarian companies owned by foreigners.
Our invited guest speakers from Baker McKenzie, József Vági, partner, Éva Dobos senior attorney and Dániel Orosz, attorney, shed the light on the impact of the new rules on transactions and the practical issues involved.
