We are proud to have been part in the latest automotive industry acquisition by the AutoWallis Group by assisting the respective stakeholders in the acquisition of ShareNow Hungary by the Budapest Stock Exchange-listed company AutoWallis Nyrt. The transaction is another important step in implementing the AutoWallis Group’s ambitious strategy.
Kapolyi Law Firm’s experienced transaction team, led by Martin Gortva, LL.M., primarily advised Wallis Autómegosztó Zrt. and Wallis Asset Management Zrt. by playing a significant role in the thorough preparation, execution, closing, and post-closing matters of the transaction. The team also involved Vivien Benczik-Szekeres and Gábor Horváth, MBA. We also supported AutoWallis Nyrt. in the various corporate procedures required to prepare and, respectively, close the transaction and are acting before KELER to produce the new shares issued by AutoWallis Nyrt. as a result of the share capital increase.
Through the acquisition of Wallis Autómegosztó Zrt., the company operating Share Now in Hungary, AutoWallis Nyrt. has further expanded our services portfolio in car sharing, one of the mobility market’s most dynamically growing areas, and strengthened its position in the Hungarian mobility market. The transaction is expected to result in significant synergy both in operations and cross-selling within the AutoWallis Group.
Share Now has approximately 100,000 registered users and a fleet of almost 500 vehicles in Hungary; based on its revenue of HUF 2.2 billion, it is a market leader in its segment.
The significance of the transaction is shown by the fact that community car sharing has seen a huge jump in both Hungary and the region and is expected to form an organic part of urban vehicle and community transport. According to forecasts, the number of people using car sharing in Budapest may grow fivefold over the short to medium term.