CERHA HEMPEL has advised the MK Group Global Limited ("MKG") in connection with the cross-border purchase of the loan portfolio of Heta Asset Resolution AG ("HETA") and the acquisition of the direct and indirect shareholdings of HETA in three Slovenian wind-down entities, which manage receivables from non-performing loans granted by the former Hypo Alpe-Adria-Bank International AG and its subsidiaries to inter alia customers in Slovenia.
The buyer was found as part of a complex, multi-stage bidding process that lasted several months, at the end of which the Republic of Austria, as owner of HETA, finally selected MKG as best bidder. The contracting parties agreed not to disclose any details regarding the purchase agreement. CERHA HEMPEL advised the buyer during the transaction.
Signing took place in September 2019, but the transaction was finally closed in June 2020 after the approval of the relevant competition authorities had been obtained.
MKG is a Cypriot holding company. The group comprises a large number of service companies active in the agricultural, wholesale, real estate and banking sectors.
The team at CERHA HEMPEL consisted of Albert Birkner (Managing Partner, Corporate/M&A, Takeovers) and Wolfgang Sindelar (Counsel, Corporate/M&A, Takeovers).
Albert Birkner as lead partner at CERHA HEMPEL for MKG: "We are very pleased that we were able to successfully advise MK Group Global Limited as one of our longest standing clients on this transaction and are proud to be able to support MK Group Global Limited in strengthening its market position. We would like to thank MK Group Global Limited for its many years of trust in CERHA HEMPEL".