Domestic holding company Konzum, partially owned by Felcsút mayor Lőrinc Mészáros, has started to carry out a capital increase to gain ownership of local hotel chain Hunguest Hotels.
Private equity fund Konzum PE Magántőkealap, one of Konzum's shareholders, is transferring its 71.5% indirect stake in Hunguest Hotels to Konzum.
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Konzum will pay for this package, valued at Ft 16.2 billion, with new shares to be issued in a private placement. As a result of the transaction, Konzum will indirectly control 99.99% of Hungest Hotels.
The total value of Hunguest Hotels has been estimated at Ft 51.4 billion.
The current transaction is the first step in a series of capital increases, which will help Konzum build a chain of 18 domestic and 5 foreign hotels.
