Rheinmetall acquiring 25% stake in 4iG

Deals

Postmodern Studio / Shutterstock.com

German defense industry company Rheinmetall has signed a non-binding agreement to acquire a 25.1% stake in listed Hungarian IT company 4iG, the latter said in a disclosure released on the website of the Budapest Stock Exchange.

Under the agreement, also signed by 4iG and KZF Vagyonkezelő, the investment company of 4iG chairman-CEO Gellért Jászai, Rheinmetall would buy 4iG shares from KZF in an over-the-counter transaction. 

The German defense firm would also participate in a HUF 120 billion private placement, joined by iG COM Private Equity Fund, another Jászai interest, and a fund managed by Alpac Capital. 

The capital raise would take place with the issue of new shares at HUF 670 per share. There would be a lock-up period of "at least one year" for the subscribed shares. 4iG said Jászai's stake in his company would "not change significantly" due to the transaction.

ADVERTISEMENT

Sharp Rise in Energy Costs Putting Strain on Competitiveness Analysis

Sharp Rise in Energy Costs Putting Strain on Competitiveness

Parl't approves 2023 budget Parliament

Parl't approves 2023 budget

Danubius Hotels Appoints Group Director of Development Appointments

Danubius Hotels Appoints Group Director of Development

3 Downtown Districts Planning to Introduce 30 km/h Speed Lim... City

3 Downtown Districts Planning to Introduce 30 km/h Speed Lim...

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.