4iG shareholders reject buyout offer
No shareholders of IT company 4iG accepted the mandatory public purchase offer for remaining shares made by a consortium of companies and funds controlled by the investor Lőrinc Mészáros by the August 21 deadline, the companies concerned announced on the website of the Budapest Stock Exchange (BÉT) on Tuesday.
Opus Global, Repro I Private Equity Fund, Konzum PE Private Equity Fund, and Konzum Investment Fund Management (the fund manager of Repro I and Konzum PE) announced the mandatory public purchase offer in June for 1.88 million shares of 4iG, with face value of HUF 1,000. The offer was made at a price of HUF 2,942 per share, the statutory minimum, recalled state news agency MTI.
Opus Global and its partners together hold 33.57% of 4iGʼs shares at present, but have reached agreements with other shareholders to raise that stake to 50.28%.
Opus Global wants to transfer to 4iG its 24.67% stake in Takarékinfo, which provides Hungaryʼs integrated savings cooperatives with IT and telecommunications support, with the aim of capitalizing on the two companiesʼ synergy.
Shares in 4iG shares closed at HUF 3,500 on Tuesday.
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.