4iG wins another big public procurement contract

In Hungary

4iG

Listed IT firm 4iG said Thursday that it has been selected, in a consortium with its recently acquired T-Systems Hungary, as the winner in an EU public procurement procedure invited by the state-owned KTI Institute for Transport Sciences to implement the Intercity Community Transport Information System (HKIR).

The value of the winning bid is HUF 11.156 billion plus VAT. The contract moratorium expires on August 5, state news agency MTI reported.

As reported earlier this month, 4iG is to acquire T-Systems Hungary under a preliminary agreement with Magyar Telekom.

KTI Institute for Transport Sciences Non-Profit is a research base of the Ministry for Innovation and Technology, MTI noted.

The project aims to harmonize the operations and set up a uniform ticket-selling system for intercity public rail and bus transport services, and create a real-time information system accessible through mobile phone and the internet. The HKIR system is expected to be operational nationwide by the end of 2020, 4iGʼs PR agent said.

Excluding the current one, 4iG has announced winning big state contracts with a combined value of over HUF 20.4 bln so far this year.

Investor Gellért Jászai recently acquired 32.01% of 4iG shares from his business partner and close government ally Lőrinc Mészáros, and intends to increase his stake to 40.2% after a mandatory public purchase offer. Mészáros currently owns a combined 29.77% of 4iG through Konzum PE Private Equity Fund and Opus Global.

The board of directors of 4iG said on Wednesday evening that the National Bank of Hungary (MNB), as market oversight authority, has approved the mandatory public purchase offer submitted by Jászai for the companyʼs outstanding shares, MTI reported separately.

Jászai announced on June 18 his offer for the outstanding shares of 4iG at a price of HUF 675.78 per share, the statutory minimum.

The starting date of the period for making a declaration of acceptance for the statutory public takeover bid is July 29, 2019, and the closing date is August 28, 2019.

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