Appeninn acquires Milton Hitelezési
Property holding company Appeninn acquired financing company Milton Hitelézesi, which will continue to operate under the name of AppeninnCredit Hitelezési, Appeninn announced today on the website of the Budapest Stock Exchange, Hungarian news agency MTI reported.
Appeninn said the acquisition fits into its corporate strategy, as now it will have the option to purchase assets backed by real property or provide property leasing services through its subsidiary.
Appeninn is financing the purchase with treasury shares, paying 654,545 to Wallis group, the owner of Milton Hitelezési, for a total value of HUF 144 million.
The National Bank of Hungary has approved the acquisition.
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