Konzum acquires more hotels


Listed holding company Konzum announced Tuesday it has agreed to buy 100% of Ligetfürdő Kft., thus acquiring two hotels in Austriaʼs Hohe Tauern National Park, a four-star wellness hotel in Montenegro, and the four-star Hotel Forrás and Napfényfürdő Aquapolis water park in Szeged (southern Hungary).

The Saliris Resort in Egerszalók, acquired earlier this year by Konzum.

Konzum PE Private Equity Fund will pay for the transaction on behalf of the Konzum holding company and will raise capital in Konzum. Konzum will issue new shares to pay for the receivables of Konzum PE, at HUF 3,141, the price set at the time when the series of capital raises was announced in December 2017, according to state news wire MTI.

The transaction will be completed subject to approval by the Hungarian Competition Authority (GVH).

The in-kind contribution will complete the series of Konzum capital raises announced on December 12, 2017, raising the companyʼs shareholdersʼ equity to over HUF 60 billion, exceeding the preliminary estimate of HUF 50 bln and further improving its income-generating capacity, the companyʼs PR agent said.

With the capital raises executed in the past six months, aimed at expanding Konzumʼs tourism portfolio, Konzum has directly or indirectly acquired or will acquire 18 domestic and five foreign hotels, as well as hotel operator Hunguest Hotels. The managementʼs aim is to develop Konzum into a major tourism investor in the Central and East European region, and Hunguest, which operates the companyʼs tourism holdings, into a major hotel operator in the region.

The website of the Budapest Stock Exchange (BÉT) shows that, as of May 15, Konzum PE Private Equity Fund is the biggest shareholder in Konzum, holding 33.28% of the shares, followed by investors Lőrinc Mészáros (19.57%) and Gellért Jászai (10.43%), and CB Germany Branch (6.18%).


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