Opus Global to acquire controlling stake in 4iG

Deals

Photo courtesy Budapest Stock Exchange

Listed holding company Opus Global announced Wednesday afternoon it has reached agreements with shareholders of 4iG to acquire just over 50% of the IT company始s shares, state news agency MTI reported.

Opus Global is acquiring the shares in concert with REPRO I Private Equity Fund, Konzum Private Equity Fund and Konzum Investment Management. Agreements on acquiring 50.28% of 4iG were reached on May 22-25. At present, Opus Global and the parties with which it is acting in concert hold 33.57% of the company始s shares.聽聽

Opus Global and its partners will make a public purchase offer for the rest of the company始s shares, as required by law.聽

Opus Global also said it has started talks with 4iG on the transfer of its stake in Takar茅kinfo as a contribution in kind.聽

In a separate statement, Opus Global始s PR agent said the company wants to transfer its 24.67% stake in Takar茅kinfo, which provides Hungary始s integrated savings cooperatives with IT and telecom support, with the aim of capitalizing on the two firms始 synergies.聽

Trade in shares of both Opus Global and 4iG were suspended just ahead of the opening bell on the Budapest Stock Exchange (B脡T) on Wednesday pending the extraordinary announcement. The suspensions were lifted after Opus Global said it would acquire the controlling stake in 4iG.聽聽

Opus Global closed up 0.69% at HUF 727 on Wednesday, while 4iG closed flat at HUF 3,860.聽

MTI reported that 4iG had consolidated revenue of HUF 17.3 billion last year. Opus Global is controlled by the investor L艖rinc M茅sz谩ros, a close ally of Prime Minister Viktor Orb谩n.

Late last year, suspicions of corruption surfaced related to Microsoft license contracts between the government and Humansoft Kft., owned by 4iG. Microsoft delegated a group specialized in investigations to verify contracts between its local subsidiary and several institutions of state administration.

ADVERTISEMENT

Business Confidence Worsens, Consumer Confidence Improves Analysis

Business Confidence Worsens, Consumer Confidence Improves

Parliament Negates Mandatory Membership in MOK Parliament

Parliament Negates Mandatory Membership in MOK

Haulier Koncsek Trans Invests HUF 150 mln in Garage Upgrade Transport

Haulier Koncsek Trans Invests HUF 150 mln in Garage Upgrade

Budapest Leaders Unveil Plans to Scale Back Traffic on Thoro... City

Budapest Leaders Unveil Plans to Scale Back Traffic on Thoro...

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.