Slaughter and May is advising Vodafone Group Plc (“Vodafone”) on the sale of Vodafone Magyarország Zrt (“Vodafone Hungary”) to 4iG Nyrt (a Hungarian listed telecoms and IT group) and Corvinus Zrt (a sovereign investment management company owned by the State of Hungary). Vodafone will receive a total cash consideration of HUF 660 billion (EUR 1.7 billion), subject to customary purchase price adjustments. Proceeds from the sale are intended to be used for deleveraging.
Completion of the transaction is subject to customary conditions and is expected to take place in January 2023.
Slaughter and May has been working closely with the Vodafone legal team, led by Rebecca Symondson and Fiona Campbell.