According to the information released by the companies and published on the Budapest Stock Exchange website, the transaction is expected to be closed by the end of May.
Konzum said in December last year that it planned to acquire a 24.85% stake in the insurer through a HUF 8.2 billion capital raise. Simultaneously with the closing of the transaction on May 31, CIG Pannonia will purchase a 5.04% packet of Konzum shares, as was also announced in December 2017.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
