IFLR1000

Erste Bank acquisition of Citi's Hungarian retail bank business

21/12/2015
Private acquisition
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Completed

21/12/2015

Overview:

  • Erste Bank has acquired the Hungarian retail banking business of Citibank.
  • The acquisition was made jointly by Erste Bank Hungary and subsidiary Erste Befektetési.
  • The deal includes Citi's retail banking, consumer loans and card business.
  • Citi will remain in Hungary but focus on corporate banking.

Sam Duke - Editor

Jurisdiction:

Hungary

Deal type:

Private acquisition

Practice area:

M&A

Governing law:

Hungary

Industry sector:

Banking

Firms:
Clifford Chance

Party: Citigroup (Seller)

Lawyers: Melissa Fogarty, Nigel Wellings

CMS Cameron McKenna Nabarro Olswang

Party: Erste Group Bank (Acquirer)

Lawyer: Anikó Kircsi

Lakatos Köves & Partners

Party: Citigroup (Seller)

Lawyers: Iván Sólyom, Pál Rahóty, Péter Lakatos, Szabolcs Mestyán

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