Opus to part with CIG Pannónia stake

Deals

Listed holding company Opus Global said it will sell its 24.85% stake in listed life insurer CIG Pannónia to insurance broker Hungarikum Biztosítási Alkusz, according to a report by state news wire MTI.

The transaction must be approved by the National Bank of Hungary (MNB) in its capacity as financial market watchdog.

Under the sale agreement, Opus will get a fixed price for the stake but could also share in CIG Pannoniaʼs earnings in the period 2021-2025, if certain conditions are fulfilled.

Opus earlier parted with its stake in listed property holding company Appeninn.

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