October 2024 – Kinstellar has successfully advised Banque Fédérative du Crédit Mutuel S.A. (owner of Cofidis Bank) on the acquisition of BNP Paribas’s Hungarian subsidiary, Magyar Cetelem Bank. This transaction exemplifies the seamless and efficient teamwork across service lines at Kinstellar's Budapest office.
Kinstellar provided comprehensive assistance to Cofidis Bank throughout the entire transaction process, which included extensive corporate support, banking regulatory approvals, merger clearance, competition law considerations, and the closing of the transaction. It was an exceptionally complex deal, characterized by prolonged and detailed negotiations.
The Kinstellar team in Budapest was led by Gábor Gelencsér (Partner, M&A, Corporate) and Levente Hegedűs (Partner, Banking and Finance), with support from Bianka Kovács (Senior Associate), Áron Barta (Senior Associate), and Judit Sós (Associate) from our M&A and Corporate team. Additionally, Péter Vörös (Partner) and Orsolya Staniszewski (Associate) from our Competition team, along with Veronika Heiszer (Associate) from our Banking and Finance and Dániel Endre Nagy (Senior Associate) from our TMT and Data Protection team contributed to the success of this transaction. The process was further assisted and facilitated by Prague-based Partner Karla Rundtová, the firm-wide head of the Foreign Direct Investment Screening service line.