Hungarian law firm Lakatos, Köves and Partners (LKT) has provided Hungarian legal advice to international law firm Hogan Lovells (HL) and EDF in relation to the sale of EDF DÉMÁSZ Zrt, EDF’s Hungarian subsidiary, to ENKSZ (“Első Nemzeti Közműszolgáltató Zrt.”).
The transaction closed on 31 January 2017. The announcement follows the receipt of both the approval by the Hungarian regulator of the energy sector and the authorization by the French Ministry of Economy.
The transaction values EDF DÉMÁSZ Zrt. at approximately EUR 400 million, and is a further step in EDF’s ongoing disposal plan.
LKT lead partner Péter Lakatos commented: “Having previously advised HL and EDF on the sale of Budapesti Erőmű (Budapest Power Plant / “BERT”), we are glad to have been able to assist EDF with another strategically important Hungarian matter. We note that, by size, this is the most significant deal on the Hungarian energy market in recent years.”
The HL team based in Paris acting for EDF comprised Xavier Doumen (partner), Arnaud Levasseur (Counsel), Mathieu Frick and Alexandre Jeannerot (associates).
Péter Lakatos, Managing Partner
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