Schibsted Classified Media, the Norwegian international media group, has acquired 50 per cent of the shares in Hasznaltauto Informatikai Kft., the company operating Hungary’s leading car classifieds online portal. Schibsted’s portfolio includes jofogas.hu, which was launched in 2010 and now holds Hungary’s largest classified database.
Hasznaltauto.hu is Hungary’s leading automotive portal for selling new and used vehicles with more than 80% of the country’s motor vehicles in its database. The site has 200,000 unique visitors and an average of 18 million page views a day.
Lakatos, Köves and Partners, the leading Hungarian law firm, advised Schibsted on this transaction.
Lakatos, Köves and Partners is active in the Hungarian M & A market as having advised on many of the main deals this year, In early 2012 it advised Dubai-based Al-Habtoor Group on the acquisition of the Budapest Le Meridien Hotel and recently advised both French Suez Environnement and German RWE on the sale of their interest in Budapest Waterworks to the Budapest Municipiality for EUR 400 million and advised Deutsche Telekom subsidiary Magyar Telekom on selling ProM Zrt.,the company operating the secure government communications network, to the Hungarian state for EUR 63 million.