M&A Hungary

LIFE-SIGHT: Cat-and-mouse Warranties (Summary)

LIFE-SIGHT: Cat-and-mouse Warranties (Summary) The extent and scope of warranties is one of the trickiest negotiation areas in selling or buying a private company. The buyer wants to make sure that the financial statements were true and fair and it had received all relevant information for his investment decision on closing, while the seller is afraid warranties will allow the buyer to claw back part of the purchase price after the deal. The most important areas to seek warranties are: the valuation of assets, off balance sheet items, related party transactions, pending litigations and potential tax liabilities.

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M&A Adventures of Domo (Summary)

Romania?s biggest electronic retailer is looking for an investor again. Since the company became a major player on the Romanian market, they have been sold two times already, and the current majority owner Equest-TBIL has put up 61 percent of Domo for sale once again. Loránd Szarvadi Téglás the founder of the company thinks that with a well excecuted restructuring plan Domo can be a very profitable enterprise again and it can remain the market leader in Romania. Couple of years ago Domo tried to expand its operations to Hungary with the acquisition of Electro World, but the results did not live up to the original expectations, so the company gave up its share in the company. However Domo still strives to become a significant player in the region, so they are actively looking for acquisition targets.read more »

M&A Adventures of Domo (Summary)

Acquisition with Added Value (Summary)

It was not long ago that TeleLink acquired Hungary?s Metalcom. The deal was a very important step for TeleLink on the road of becoming the strongest vendor independent network integration company in Central and Eastern Europe. In our last edition we made an interview with Lyubomir Minchev, the CEO of TeleLink and now we explore the other side of the deal.read more »

Acquisition with Added Value (Summary)

Mergers and Acquisitions are Back (Summary)

Mergers and acquisitions are back on the corporate agenda, according to dealmakers at Clearwater Corporate Finance (?Clearwater?) English member of IMAP. The announcement comes as the firm reports a landmark final quarter to its financial year after completing 13 deals in 12 weeks. In the financial year ending 31 March 2011, Clearwater advised on 31 deals with a total value of just over EUR 1 billion. read more »

Mergers and Acquisitions are Back (Summary)

Insider and Outsider Accountants? Which one is more suitable for you? (Summary)

Unfortunately the feedback comes too late most of the time in the area of accounting quality. When problems emerge we only have the chance to minimize the damage, so it is worth to list the pros and cons regarding the question of inside and outside accounting. Or shall we mix the two?read more »

Insider and Outsider Accountants? Which one is more suitable for you? (Summary)

A Market Finding its Feet Private equity transactions in Romania PART II. (Summary)

In our last edition Adrian Bulbacoa and Voichita Lefter started to summarise the most important part of legal framework for M&A transactions in Romania. Now they continue to sum up the most important aspects of M&A with short descriptions including: Consent matters; Shares and voting rights; Drag-along and tag-along rights; Giving up shares; Pre-emption rights; Swamping rights; Exits; Merger control; Financial assistance. read more »

A Market Finding its Feet  Private equity transactions in Romania  PART II. (Summary)

Enterprise Value and Contractual Purchase Price - Debt Free Cash Free Valuation (Summary)

The valuation of the target company is a substantial element of any given acquisition transaction. This article showcases the DFCF (debt free cash free) standard for enterprise valuation and the issues it raises in the context of transaction contracts. The DFCF valuation is a calculation that ignores the way how the target company?s business is funded. The DFCF valuation deducts the cash of the company and its debts outstanding (excluding trade debts). read more »

Enterprise Value and Contractual Purchase Price - Debt Free Cash Free Valuation (Summary)

Hungarian Invention Bought by Docler (Summary)

Docler Holding, one of the leading international players of the online multimedia market, have recently founded Docler Investment, which is the private investment arm of the Holding. In a very short time they bought several startup companies. Their newest acquisition is CeuData Kft. which developed a groundbreaking solution in the field of telecommunication security.read more »

Hungarian Invention Bought by Docler (Summary)