BorsodChem sells Austrian subsidiary to VCP unit

Deals

Chemicals company BorsodChem Rt announced on Monday that it had sold its wholly-owned Austrian unit, BC-Handelsgesellschaft mbH, to CE Oil and Gas Trading AG, which is majority-owned by BorsodChem's biggest stakeholder Vienna Capital Partners. BorsodChem did not disclose the price, but said that BC-Handels has been carrying out trade activities within the organizational structure of CETAG since April 1, 2004, based on a cooperation agreement between the two companies. BC-Handels has registered capital of €730,000.
CETAG is 80% owned by Vienna Capital Partners (VCP), which is BorsodChem's largest shareholder with a stake of 21.52%. Other shareholders with stakes exceeding 5% in BorsodChem are Firthlion Limited, a company owned by Russian businessman Rahimkulov and his family with 10.02% of shares, HSBC Bank with 7.72%, and FTIF Templeton Eastern Europe Fund with 5.12%.

ADVERTISEMENT

MNB Int'l Reserves Rise EUR 579 mln in November MNB

MNB Int'l Reserves Rise EUR 579 mln in November

Gov't to Launch HUF 20 bln Workers Hostel Program Government

Gov't to Launch HUF 20 bln Workers Hostel Program

Retail Sales Fall 6.5% y.o.y. in October Retail

Retail Sales Fall 6.5% y.o.y. in October

Heineken Balaton Sound Announces 1st Phase Lineup In Hungary

Heineken Balaton Sound Announces 1st Phase Lineup

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.