In a depleted market, Horváth & Partners – DLA Piper is the counter-current. The firm has been making waves in the market and has had a very successful year....
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In a depleted market, Horváth & Partners – DLA Piper is the counter-current. The firm has been making waves in the market and has had a very successful year. It is definitely one to keep an eye on. "DLA Piper is ambitious and they have nice juicy mandates," one rival says. Moreover, the firm has diversified its client base. While the core of the firm's clientele is made up of many prominent lenders such as Raiffeisen and UniCredit, it has also demonstrated expertise in representing borrowers. The firm is also proficient in the capital markets, and in January 2011, span off a standalone disputes and regulatory practice. This has enabled it to dedicate itself to key transactions where it advises on the financing aspects of high profile deals. "DLA is strengthened by new partner Gábor Borbély [hired in October 2010] from Allen & Overy," one peer says. This has been backed up by clients. "We're very satisfied by the performance because the person is important," one client says. "I know him from his former place, A&O, and it's very important that he's personally involved in the deal."
Deals
Horváth & Partners – DLA Piper last year advised a syndicate of banks, led by Raiffeisen, on the English and Hungarian law aspects of the €70 million financing of the local subsidiary of a prominent Korean tyre manufacturer. Furthermore, on the capital markets side, Gábor Molnár and István Szatmáry advised GEM on the provision of a €4 million equity line (an alternative stand-by capital increase facility) to Est Media, a Budapest Stock Exchange listed company. The equity line of credit served the client as working capital financing and the firm also advised on a related call option agreement.
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Horváth & Partners – DLA Piper is at the top of tier two and is threatening to break into the top bracket. "DLA is more visible....
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Horváth & Partners – DLA Piper is at the top of tier two and is threatening to break into the top bracket. "DLA is more visible. It generates work and has a steady workflow," one rival says. The firm has had yet another highly successful year and is making waves in a barren market. In fact, the firm's advice to the state on the purchase of a €2 billion shareholding in MOL is the most important deal in the CEE region. "DLA has good relations with the state and deserves the second tier," one partner says. Furthermore, the firm managed to expand its client base to include the Exal Group and Ontario Teachers' Pension Funds portfolio company. "They worked tireless hours and were bang on with advice over six months, which was a challenge," one client says. "I couldn't recommend them enough. The deal was one of the most complicated in Hungary. They put a dedicated team together and extended and constructed it according to the vagaries of the deal."
Deals
Horváth & Partners – DLA Piper has had a very busy year and was the exclusive legal advisor to the Hungarian government on its €2 billion purchase of a 21.2% stake in the Hungarian oil and gas company, MOL, from the Russian oil company, Surgutneftegas. Additionally, the firm acted for Exal Corporation, a portfolio company of Ontario Teachers' Pension Plan, on the €14 million acquisition of the packaging business of Szenna Pack, a company in bankruptcy. Moreover, the firm then advised on the client's instant €85 million sale to Ardagh Group (as part of the sale of Exal's European business).
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Undoubtedly a firm to watch out for, Horváth & Partners - DLA Piper is on the brink of entering tier two. Péter Györfi-Tóth leads the firm’s banking and finance practice which has been successful in attracting a diverse range of mandates from a broad base of public and private clientele....
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Undoubtedly a firm to watch out for, Horváth & Partners - DLA Piper is on the brink of entering tier two. Péter Györfi-Tóth leads the firm’s banking and finance practice which has been successful in attracting a diverse range of mandates from a broad base of public and private clientele.
Deals
The firm advised the Ministry of National Development on the re-structuring of numerous PPP/PFI (public-private partnership/private finance iniative) projects in the field of municipality, sport and culture infrastructure. This is inclusive of 30 PPP projects in the field of sport infrastructure development and the flagship Hungarian PPP project, the Palace of Arts. Additionally, it carried out the legal audit of contracts connected to the construction of the new metro line number 4. In this key project of the Transport Operational Programme, Horváth & Partners - DLA Piper advised KIKSZ in the preparation of the terms of the contracts.
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