Management buys out portfolio.hu

Competition

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The management of portfolio.hu has purchased the financial and economic news portal from its previous owner the CEMP media group, the buyers announced yesterday, according to online news service index.hu.

Screengrab of the website.

According to an announcement detailing the transaction, NT2016 Kft., a company owned by Gabriella Balogh and Zoltán Bán, purchased portfolio.huʼs publisher Net Média Zrt. from Central European Media & Publishing (CEMP) on October 26, 2016.

Balogh is a member of the board of directors of CEMP, while Bán is CEO of Net Média Zrt.

Besides portfolio.hu, Net Médiaʼs holdings also include household financial advice site penzcentrum.hu and specialist agricultural economics portal agrarszektor.hu. Within the framework of the transaction, the buyers also acquired CEMP Trade Kft., which offers FX and CFD trading services under the Alfatrader brand name.

The buyers financed the management buyout from loans and own resources, the announcement adds.

Besides other publications, CEMP is also the publisher of index.hu.

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