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Hungary’s Dentons advises Adris grupa on €550m  sale

Hungary’s Dentons advises Adris grupa on €550m sale

BUDAPEST: The chiefly Hungarian team of Dentons acted as advisors for Adris grupa in the sale of TDR and other entities within Adris Strategic Business Units Tobacco and Retail, including among others Istragrafika, Hrvatski duhani and the iNovine and Opresa retail chains, for a total enterprise value of €550 million. The transaction, which is currently subject to the approval of the Shareholders’ Assembly of Adris as well as customary competition clearances, is expected to close in September 2015, Dentos said in an announcement.

The Dentons team in Budapest included Partners Rob Irving, Anita Horváth with Associates Eszter Fodor and Orsolya Szabó, being supported by a team from Dentons’ offices in London and Milton Keynes that included Partners Tom Leyland and Alex Thomas, Counsel Tatiana Kruse and Associates Suhail Qureshi, Christopher Colclough and Nick Harrison.

“We are very proud to have had the opportunity to support Adris grupa on this historic transaction that secures the future of TDR’s Kanfanar plant.” Rob Irving, the new co-chair of Dentons’ Global Private Equity Group, said. “This deal is a great example of Dentons’ ability to call upon lawyers located in CEE and the UK, from a broad variety of disciplines, to advise on strategic cross-border matters in the South Eastern Europe region,” Irving added.