The Hungarian office of PETERKA & PARTNERS recently advised one of the market leaders in the heating industry, on a complex business transfer agreement in Hungary. The transaction, as a consequence of a prior global takeover, included the transfer of various assets, and contractual and employment relationships and resulted in a VAT-free business line transfer. Special attention had to be paid to the contracts, as the transfer of these was subject to the partners’ approval. Our advisory also included legal advice and assistance concerning the voluntary liquidation of the transferor company.