Alteo acquires ALTE-A

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Hungarian energy supplier and trader Alteo has acquired full ownership of asset manager ALTE-A for HUF 600,000, the company said on the BSE website on Tuesday.

Alteo is now the only shareholder of ALTE-A.

Alteo's consolidated revenue rose more than 400% to HUF 5.66 billion in 2010. Its consolidated EBITDA was HUF 390 million in 2010, after being in the red in 2009.

Alteo is majority owned by Hungary's Wallis Asset Management.

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