Cerha Hempel, working with the Italian offices of K&L Gates, has advised the EBRD on the sale of a 15% stake in Erste Bank Hungary to the Erste Group Bank. Addleshaw Goddard reportedly advised the Erste Group Bank.
According to Cerha Hempel, “the transfer of the shares was executed in line with a put and call option agreement dated 2016, and followed the Hungarian government’s recent exit from Erste Bank Hungary.”
The Cerha Hempel team included Austria-based Partners Peter Knobl, Heinrich Foglar-Deinhardstein, and Jakob Hartig and Associate Isabella Patt and Hungary-based Partners Edina Nagy and Marton Kocsis and Senior Associate Magdolna Macsuga.
The K&L Gates team was led by Partner Paolo Zamberletti.
