Lithuania's LAL to offer €120 mln for Malév


An indirect owner of Lithuanian airline LAL would offer €120 million for Hungarian airline Malév Zrt, Gediminas Ziemelis, representative of Lithuanian investment company Zia valde, told Lithuanian daily Lietuvos Rystas on Friday.

”We have offered to make further financial investments in the company and take over a share of funds guaranteed by the state. The total value of the project would reach 380-414 million litas (110 million-€120 million) in one or two years,” Ziemelis told the daily.
The State Privatization and Holding (ÁPV) Zrt announced the tender for a 99.5% stake in Malév on September 7. LAL is owned by investment group LAL investiciju valdymas, whose three main shareholders are IT company FIMA, investment company Zia valda and logistics company Sanitex.
The bidders in the current Malév tender are AirBridge Magyarország Zrt, which is controlled by Boris Abramovich, the owner of Russian airline KrassAir; LAL investiciju valdymas; the businessman Ofer Hava, backed by a group of Hungarian and Irish investors; and Sky Alliance Zrt, a company set up by former and current Malév pilots. (MTI)


POPIHN Raises Forecast for Fuel Consumption Energy Trade

POPIHN Raises Forecast for Fuel Consumption

Hungarian Lawmakers Ratify Finland's NATO Accession Parliament

Hungarian Lawmakers Ratify Finland's NATO Accession

Nolato Partners With Happy at Work HR

Nolato Partners With Happy at Work

Sümeg Castle Reopens History

Sümeg Castle Reopens


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.