Rába Properties Sell for HUF 780 mln at Auction

Automotive

Real estate of Rába has been sold at auction for HUF 780 million, the listed automotive industry company announced after the closing bell on Monday, according to a report by state news wire MTI.

Rába shareholders had mandated the board to sell the properties, which the company no longer used, at an annual general meeting in April.

State-owned N7 Holding owns a little more than 54% of Raba and the foundation of Széchenyi István University holds 20%.

Almost 26% of the company's shares are in free float, the report notes.

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