DLA Piper has advised Eni S.p.A. and Eni International BV (Eni) on the sale and purchase of 100 per cent of shares in Eni Hungaria Zrt., a subsidiary of Eni.

The subject of the transaction has been the downstream business of the Hungarian subsidiary, which operates 183 petrol stations in Hungary under the Agip and Eni brand names, including its franchise partners' fuel stations .

The legal advisory work provided to Eni mostly focused on the vendor due diligence aspects and on the review, under Hungarian law, of the transaction documents drafted and negotiated by the Eni in-house legal team.

Country Managing Partner András Posztl led the Budapest-based DLA Piper team which included Corporate counsel Istvan Szatmary and Corporate senior associate Melinda Ujvari. During the transaction, DLA Piper worked closely with the Eni legal team led by Avv. Alessandro Benedetti, manager of International Refining & Marketing Business Legal Assistance.

Andras Posztl commented: “We are delighted to have been given the opportunity to advise Eni on this complex transaction and are proud to be the key legal partner of Eni in Hungary. Our professional partnership is based on the solid foundations of many years of cooperation in relation to Eni’s operations in the country."  

Closing of the transaction is subject to the fulfilment of certain condition precedents, including the competition clearance.