Deloitte Legal assisted during acquisition and financing of Biztosítás.hu Biztosítási Alkusz Kft. by Netrisk.hu Első Online Biztosítási Alkusz Kft. (Netrisk)
Warsaw, December 2019
Deloitte Legal assisted the Hungarian company Netrisk.hu Első Online Biztosítási Alkusz Kft. (Netrisk) and its majority shareholder, MCI.EuroVentures 1.0., in a transaction to acquire 100% of shares in Biztosítás.hu Biztosítási Alkusz Kft. (Company). Netrisk is the largest web-based insurance broker operating in Hungary, while the Company is the second largest on-line insurance agent in that country. Obtaining a concentration permit from the Hungarian Anti-monopoly Office, which was issued on 12 December 2019, was the prerequisite for the Transaction. This has been another in a series of acquisitions performed by an MCI Group on Hungarian market, following the one carried out in December 2017 and involving Netrisk, the largest Hungarian web-based insurance broker. The transaction was partly funded by a loan granted by Bank Gospodarstwa Krajowego.
The advice provided by Deloitte Legal included comprehensive legal support in the process of developing the transaction structure, preparation and negotiation of its documentation, as well asassistance in negotiation of the loan and collateral documentation.
The Deloitte Legal team comprised M&A specialists:
- Paweł Moskwa (Partner);
- Karol Kicun (Partner);
- Diana Sofu (Senior Associate);
as well as Banking & Finance experts:
- Agnieszka Ziółek (Partner);
- Mariusz Banaś (Managing Associate).
The project team included also lawyers from Deloitte Legal in Budapest, specialising in Banking & Finance.
About Deloitte Legal
Deloitte Legal is a part of the international network of law firms associated with Deloitte. At present it employs over 2,500 lawyers in 85 countries and ranks among the largest global law firms. Deloitte Legal, Pasternak, Korba, Moskwa, Jarmul i Wspólnicy Kancelaria Prawnicza sp. k. has a network of offices in the largest Polish cities: Warsaw, Poznań, Wrocław, Kraków, Katowice, Szczecin, and Łódź. Services to our Clients in Poland are provided by a team of over 90 lawyers, mainly attorneys at law and barristers.
The MCI Group
MCI is one of the fastest-growing private equity groups in the CEE region. It specialises in digital transformation, invests in pure players, entities that transfer their business model from traditional to digital operations and in those operating on the Internet infrastructure development market. Its investments include expansion/buyout stage and growth stage, mostly in Central and Eastern Europe. Since February 2001 MCI Capital S.A. has been listed on Warsaw Stock Exchange.
About Netrisk.hu Első Online Biztosítási Alkusz Kft
Netrisk is a leading on-line insurance broker in Hungary.
About Biztosítás.hu Biztosítási Alkusz Kft.
Biztosítás.hu Biztosítási Alkusz Kft. is the second largest on-line insurance agent in Hungary. Its core business involves providing access to an Internet platform to allow comparing insurance, banking and telecom products.