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 companyʼs shares.
Opus Global and its partners will make a public purchase offer for the rest of the companyʼs shares, as required by law.
Opus Global also said it has started talks with 4iG on the transfer of its stake in Takarékinfo as a contribution in kind.
In a separate statement, Opus Globalʼs PR agent said the company wants to transfer its 24.67% stake in Takarékinfo, which provides Hungaryʼs integrated savings cooperatives with IT and telecom support, with the aim of capitalizing on the two firmsʼ synergies.
Trade in shares of both Opus Global and 4iG were suspended just ahead of the opening bell on the Budapest Stock Exchange (BÉT) on Wednesday pending the extraordinary announcement. The suspensions were lifted after Opus Global said it would acquire the controlling stake in 4iG.
Opus Global closed up 0.69% at HUF 727 on Wednesday, while 4iG closed flat at HUF 3,860.
MTI reported that 4iG had consolidated revenue of HUF 17.3 billion last year. Opus Global is controlled by the investor Lőrinc Mészáros, a close ally of Prime Minister Viktor Orbán.
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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