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16 May 2024
press release

Hungary: Schoenherr advises Fiberhome on its business setup and acquisition of industrial site

Schoenherr advised Chengdu Datang Communication Cable Co., Ltd, a member of the Fiberhome Group, on the establishment of its Hungarian subsidiary, Zettanet Kft., and the acquisition of a 25,000 sqm industrial site in Kisbér, Hungary.

The firm provided comprehensive legal support on Hungarian corporate, labour, real property, regulatory, FDI, import-export and customs laws in connection with the establishment of a subsidiary for the manufacturing of fibre optic cables.

Fiberhome is listed on the Shanghai Stock Exchange and is a significant producer of high-quality optical cables with around 4,000 patents.

The seller of the real property was the Hungarian subsidiary of Sumitomo Electric Wiring Systems Limited, the European company of the Japanese Sumitomo Group.

The Schoenherr team was represented by Kinga Hetényi (partner), Adrián Menczelesz (attorney at law) and Noémi Suller (associate) on the business setup, regulatory, FDI and employment workstream and László Krüpl (partner) and Viktória Magyar (associate) on the real estate acquisition workstream.

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