MultiHome Acquires Helvid
Image by Shuttestock.com
Listed Hungarian real estate broker MultiHome has signed an agreement on the purchase of 100% of Helvid, a packaging manufacturer and seller of home improvement products such as flooring, curtains and wallpaper, for EUR 450,000, MultiHome said in an announcement posted on the website of the Budapest Stock Exchange.
Helvid's commercial activities directly support MultiHome's real estate development activities, while its manufacturing activities would diversify MultiHome's scope of activity.
MultiHome plans to finance the purchase from its own resources and bank credit.
Helvid had a net sales revenue of HUF 481 million last year, according to public records.
MultiHome had a net turnover of HUF 460 mln. MultiHome's shares trade on the bourse's Xtend platform, tailored to SMEs.
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