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Opus Global expands into alternative fuel

Deals

Listed holding company Opus Global said on the Budapest Stock Exchange on Wednesday that a company in which it has an indirect stake has fully acquired Hungarian-owned alternative fuel company Geosol. This follows the recent acquisition by Opus of a business share in the Mátrai Erőmű power plant.

Lőrinc Mészáros (left), pictured with Prime Minister Viktor Orbán.

Geosolʼs base is located in the industrial park of power plant Mátrai Erőmű, in which Opus and EPH, an integrated energy utility in the Czech Republic, are partnering to indirectly acquire a 72.6% stake. Geosol had net revenue of HUF 4.2 billion and income of HUF 1 bln in 2016, Opus said.

Geosol has been acquired by Status Geo Invest Kft., which is controlled by Status Energy Private Capital Fund, managed by Status Capital Venture Capital Fund Management, according to national news agency MTI. Opus has a 24.67% voting share in Status Capital, while Lőrinc Mészáros - the business oligarch and close ally of Prime Minister Viktor Orbán - owns 75% of the fund manager.

Status Capital has also acquired the parent companiesʼ of Geosol, Arcata Holding and Salinas, Opus said in a separate statement. Both transactions need to be approved by the Hungarian Competition Authority (GVH) and the European Competition Network (ECN).

Meanwhile, the Konzum group -  in which the biggest owners are Mészáros and Gellért Jászai -  declared its intention today to raise its stake in property holding company Appeninn to 51.34%.

Various acquisitions by Opus and Konzum have accelerated significantly this year, including:

- the acquisition by Konzum of a 24.85% share in insurance company CIG Pannónia through a share subscription worth HUF 8.21 bln;

- Konzumʼs acquisition of 23 hotels in Hungary and Austria by February next year;

- the aforementioned acquisition by Opus, in partnership, of Mátrai Erőmű;

- the indirect acquisition by Opus of a television content provider and TV sales house.

Konzum Investment and Asset Management is listed on the BÉTʼs Equities Standard Market, while Opus Global is listed on the Equities Prime Market.

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