Opus Global to acquire controlling stake in 4iG
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.
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