Lakatos, Köves and Partners (“LKT”) advised Coats on its sale of its Thread Factory located in Újpest, Hungary.
The predecessor of the Újpest Thread Factory was founded in 1923 and during the 20th century, it was one of the dominant companies of the Hungarian textile industry under various names. Coats bought back the factory in the privatization process in 1990 and thus it could continue its original activities.
Coats is a world leader in thread manufacturing and structural components for apparel and footwear, as well as an innovative pioneer in performance materials. It has factories in various countries around the world, among others in Hungary (Coats Magyarország Kft.) which played a very important role throughout the last decades, however Coats decided to move its production operations from Hungary to Romania.
The LKT team was led by Attila Ungár partner and Katalin Losonci, senior real estate lawyer and included Fanni Balás, junior real estate lawyer.