céltársaság

Céltársaság is a term used in Hungarian corporate finance to describe the target company in a merger or acquisition. It is the entity that a buyer seeks to acquire control over, typically by purchasing a majority stake or all of its shares. The céltársaság is distinguished from the bidder (vevő) and from other parties in the deal documents, and its existing operations, employees, and governance are usually central to the transaction’s terms. The outcome for the céltársaság after closing can vary: it may continue as an independent subsidiary, be restructured, or be merged into the acquirer.

In a typical deal, the céltársaság undergoes extensive due diligence and valuation. Buyers assess financial performance, legal risks, tax positions, and operational conditions to determine the price and deal structure. Valuation methods commonly used include discounted cash flow analysis, multiples from comparable companies, and precedent transactions. Negotiations cover price, payment structure, potential earn-outs, and closing conditions. Depending on the size and sector, regulatory clearance may be required from the Hungarian competition authority (Gazdasági Versenyhivatal, GVH) or, for cross-border transactions, the EU Commission.

Post-transaction, the céltársaság may be integrated into the acquirer’s group or retained as a stand-alone entity under new ownership. Employee communications, governance realignment, and integration planning are typical ongoing steps. The term céltársaság is widely used in Hungarian business press and deal documentation to denote the acquisition object, but it does not indicate a distinct legal status by itself.