Owners of troubled meat company clear way for local council to raise stake
The two biggest owners of Pápai Hús 1913 on Wednesday approved a capital raise that gives the Pápa local council a majority stake in the troubled meat company, Pápa mayor Tamás Áldozó told MTI. The transaction will involve raising the company's registered capital from HUF 590 million to HUF 1.3 billion, lifting the local council's direct and indirect stake in Pápai Hús 1913 to 88.4%, Áldozó said. The raise still requires the "contribution" of the Hungarian Development Bank and the Hungarian National Asset Management Company (MNV), he added. Public records show the two owners, Dedeko and Nyugat-Agro, each held 40% of Pápai Hús at the end of 2011. The local council's combined direct and indirect stake was 20%.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.