International law firm Bird & Bird advises MOL Group on the contemplated takeover by MOL and its consortium partners of 100% of the shares in Alteo Nyrt., a publicly listed Hungarian company, with a diverse portfolio of 69 MW of renewable energy generation capacity composed mainly of wind and solar power plants, as well as balancing and VPP capabilities.
The transaction is part of MOL’s strategic plans to increase its footprint in green energy generation and trading in line with its 2030 strategy ambitions.
Bird & Bird has provided complex legal advice to MOL in connection with this transaction including the mandatory takeover offer, the share sale and purchase agreements and other transaction documents entered into with its consortium partners.
Pál Szabó, co-head of country and head of the M&A/Corporate practice in Hungary at Bird & Bird, says: “It has been a pleasure and privilege to support MOL Group with respect to this important and complex transaction. We are pleased that everything went according to plan as this has been highly time-sensitive process and required efficient cooperation of all parties involved. This transaction is another example of Bird & Bird Hungary being the ‘go-to’ law firm when it comes to high-profile, energy sector-related M&A, both in Hungary and in the region.”
András Bányai, Head of M&A at MOL Group, comments: “We are grateful to Bird & Bird for their invaluable support during this quite complex transaction. Their second-to-none knowledge and expertise in public takeovers as well as their understanding of the sector helped complete the deal within a challenging timeframe. Bird & Bird’s lawyers were very responsive and super-engaged in this project, and thanks to their dedication and support, the outcome turned out just the way we wanted it to.”
Bird & Bird’s core team consisted of Pál Szabó (Partner, Corporate), Konrád Siegler (Of Counsel, Capital Markets), Csongor Tompa (Counsel, Capital Markets), Dániel Arányi (Counsel, EU & Competition), Dária Szabó (Senior Associate, M&A/Corporate), Gábor Szabó (Senior Associate, Capital Markets), Gábor Kutai (Senior Associate, EU & Competition), Barnabás Simon (Associate, M&A/Corporate), György G. Boros (Associate, Capital Markets), and Balázs Rudinszky (Trainee Associate, M&A/Corporate).
