Raiffeisen lowers stake in Synergon before EGM

Deals

The Hungarian unit of Raiffeisen International Bank AG, an Austrian bank that does most of its business in eastern Europe, lowered its stake in Synergon Nyrt, a local computer-services company. Raiffeisen's holding fell to 14.8% from 15.01% on Aug. 15, the lender said in a stock exchange statement today. The Vienna-based bank had raised its stake from 12.48% a month ago. Synergon installs computer networks and sells technology to governments and corporate clients in Croatia, the Czech Republic and Hungary. Its shareholders will meet Sept. 8 to elect new management and supervisory boards after proposals at a meeting May 30 didn't garner enough support from investors.

Pannonplast Nyrt, a Hungarian maker of yoghurt pots and other plastic packaging, is seeking some control over Synergon after boosting its stake to 13.5% from 4.2% earlier this month. Synergon shares added 4.7% to Ft 950 as of 11:34 a.m. in Budapest today, valuing the company at Ft 9.1 billion ($42.6 million). The stock has been the benchmark BUX Index's best performer this year, gaining 87.9%. (Bloomberg)

ADVERTISEMENT

Business, consumer confidence improves - Századvég Analysis

Business, consumer confidence improves - Századvég

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

Martina Cifer joins Avison Young Hungary Appointments

Martina Cifer joins Avison Young Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.