Hgroup Completes Investment in Professione Casa
Image by Shutterstock.com
Listed real estate broker Duna House announced that its Italian unit, Hgroup, completed an investment and cooperation agreement with Professione Casa, one of Italy's largest real estate agencies, according to an announcement on the website of the Budapest Stock Exchange.
Duna House had announced the signing of the agreement, subject to the fulfillment of certain conditions by Oct. 30, about a month earlier. Under the agreement, Hgroup acquired a 10% stake in Professione Casa and formed an exclusive cooperation to provide loan brokerage services to the real estate agency's clients for at least 15 years.
Hgroup will also cease the development of its own Realizza real estate network and integrate its real estate activity into Professione Casa.
Hgroup will pay a fixed fee of EUR 1.5 million in addition to a fee conditional on the quantity and quality of leads generated by the cooperation.
Duna House expects profits generated from the collaboration to reach an annual EUR 2 mln within 2 -3 years.
Government Acknowledges Drop in Motor Fuel Prices
EU Affairs Ministry, AmCham Sign Strategic Partnership Deal
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
